GOLD TECHNICAL ANALYSIS: From a technical standpoint, the gold outlook remains biased to the downside. Falling resistance from August is keeping prices under pressure.
Spot Gold
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82% of the Retail Gold Traders are Net Long Gold – Neal Bhai Reports
Gold Traders : Gold prices rebounded from a key support level of US$ 1,870 amid favorable market sentiment as traders counted down to the US election.
MCX Gold High 50935 Silver High 62100, Bola Tha 1000–500 Lots Buy Karo – Neal Bhai
MCX Gold High 50935 Silver High 62100, Bola Tha 1000–500 Lots Buy Karo – Neal Bhai
US PRESIDENTIAL ELECTION TO DICTATE GOLD PRICE ACTION
Gold Price Action : Gold’s inverse relationship with the US Dollar could see the precious metal continue to track lower in the near-term, given that the upcoming US presidential election on November 3 will more than likely stoke volatility up until the point that a winner is announced.
Gold Spot : Buy Above $1858, Target $1900 — $1920 (Buy 1000—500 Lots)
Gold Spot : Buy Above $1858, Target $1900 — $1920 (Buy 1000—500 Lots)
GOLD PRICE DAILY CHART – DESCENDING TRIANGLE IN PLAY?
Gold Prices Today Up in Tight Range. Will US Election Trigger Breakout?
Gold prices today consolidated at above US $1,900 this week amid souring market sentiment due to a resurgence in coronavirus cases around the globe.
For Nine years the $1,920 level loomed large for Gold prices, As this was the prior All-Time-High set in 2011
It’s now been a couple of months that the bullish trend in Gold has been on pause; and this comes after an aggressive topside trend had taken-over this summer. After digesting over a two-month pattern from mid-April into mid-June, bulls took over to build a rally that drove for much of the next two months.