Gold Forecast: The price of gold has stalled at the start of the week which could encourage the bulls to take profits in anticipation of a significant correction to test prior resistance on the daily chart. At the time of writing, gold is losing over 0.20% and has dropped to test the low of $1,860.99 so far. $1,860 is a key level on the hourly chart.
Spot Gold
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Spot Gold Hold Above $1,850 level ahead of US Data
Gold (Yellow Metal) Reports: Spot gold is holding the lower ground just above $1,850, maintaining its consolidative mode after facing stiff resistance near the $1,868 region. The improving market mood appears to be weighing down on gold price, as the bulls fail to benefit from a broad retreat in the US dollar from yearly highs.
Gold Is Back in Vogue With Bulls Loving Faster Inflation Again
For much of this year, rising inflation has been bad news for gold. Now it’s giving the metal a shot in the arm.
Spot Gold Price Could Rise $1,880 if Hold June 16 Highs Give Way
Spot Gold Price: Will US inflation trigger a sustained move above $1,834 in spot gold? This was a rhetorical question to which the response was aptly provided after the US Consumer Price Index (CPI) jumped to the highest levels in 31 years in October, arriving at 6.2% YoY.
Spot Gold Surges to Multi-Month Highs Above $1850
Spot gold (Yellow Metal) prices have spiked higher in response to the latest US Consumer Price Inflation (CPI) report. Prior to the data release, Gold was just under $1827, but it now trades well above the $1850 mark with on-the-day gains of about more than 1.0%. gold comex prices are up around 1.7% from earlier session lows around $1823.
Gold Gains Ground As Treasury yields Pull Back After Fed Decision
Gold futures price rebounded Thursday, building on support found as Treasury debt yields declined after the Federal Reserve announced its plans to taper its bond purchases on Wednesday.
Gold Price Reports: Gold Hurdle Zone $1820—$1827 | Neal Bhai Reports
Gold Price Reports: Gold has rallied to and so far failed at the $1813, 55-week moving average. Gold slip to the $1721 September 2021 low.