Fed Forecast for July Month: Gold remains on track to post weekly losses. Next week, FOMC Chairman Jerome Powell will testify before Senate on Wednesday. If Powell suggests a 50 basis points (bps) rate hike in July, the yellow metal could gain traction, FXStreet’s Eren Sengezer reports.
Spot Gold
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Gold Forecast for Today By Neal Bhai [17-06-2022]
Gold Forecast for Today: Gold Price lost its bullish momentum on Friday. The Fibonacci 23.6% retracement level of the latest downtrend and the 20-day SMA form the first resistance at $1,850. In case gold starts using that level as support, it could target $1,868 (50-day SMA, Fibonacci 38.2% retracement) and $1,892 (100-day SMA).
Gold Price Forecast: Buyers need to Break $1,858 Level for Bulls
Gold Price Forecast: The Technical Confluence Detector shows that Gold Price is testing bids at $1,840, where the SMA10 one-day coincides with the Fibonacci 61.8% one-week.
Gold Near Term Target Price $1,868—$1880 | Yellow Metal is Bullish
Gold Near Term Target Price: The American dollar appreciated throughout the first half of the day but rotated south with Wall Street’s opening.
Bullish Chart Pattern, Risk-on mood Keep Gold Buyers Hopeful
Gold Forecast: Gold prices managed to keep the post-Fed gains towards the neckline of the weekly inverse Head-and-Shoulders (H&S) bullish chart pattern, backed by the upbeat MACD signals.
ग्रोथ चेतावनियों से सोने की हेवन अपील नरम पड़ गई – Neal Bhai
सोने की हेवन अपील नरम पड़ गई — वैश्विक आर्थिक मंदी की चेतावनी के साथ, सोना एक और रैली की ओर बढ़ सकता है, जो $ 1,930 प्रति औंस की ओर एक नए धक्का का मार्ग प्रशस्त कर रहा है।
Gold Price Outlook: Gold Strong Hurdle $1,885 | Focus Shifts To Fed
Gold Price (Yellow Metal) pulls back to $1,878, after rising to the highest levels since May 09, during Monday’s Asian session. The precious metal’s latest weakness could be linked to the US dollar’s broad gains ahead of this week’s Federal Reserve (Fed) monetary policy meeting, as well as the risk-off mood. Additionally, a short-term trend line resistance also challenges the bullion buyers.