Gold is headed for a third weekly gain after turbulent equity markets sent investors hunting for haven assets amid global growth concerns. Futures breached $1,300 an ounce in New York and spot gold flirted with the level in early London trading, before dropping back as stocks in Europe and Asia recovered some of their losses ahead of fresh trade negotiations between the U.S. and China next week.
Spot Gold
At Gold Silver Reports, we provide real-time updates on Spot Gold (XAUUSD) with live prices, expert analysis, and daily trading insights. Stay ahead with accurate forecasts, support & resistance levels, and global gold market trends to guide your trading strategies.
Spot Gold Above $1285 Ultimate Target 1303—1318 Report By Neal Bhai
The Gold markets rallied a bit during the trading session on Wednesday as traders came back from the New Year’s Day holiday.
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Gold Prices Up Amid Weaker Dollar, Equities Sell-off
Spot gold rose 0.9 percent to $1,254.06 per ounce at 8:02 a.m. ET, after declining the most since Nov. 27 in the previous session.
Spot Gold May Rise into $1253 —$1258 Level
Gold Silver Reports (GSR ) – On the daily chart, the gain on Monday confirms a break above the former resistance at $1,238, the 14.6 percent projection level of a downward wave C from $1,366.07. The next Resistance will be at $1,305.
Spot Gold May Rise into a Range of $1258-$1266 per Ounce
Spot gold may rise into a trading zone of $1258—$1266 level per ounce, as it has broken a resistance at $1245, Technical Analyst Neal Bhai.
Global stocks extended their slump on worries over slowing growth and fears that a fresh flare-up in tensions between U.S. and China could quash chances of a trade deal.
Spot Gold was up 0.1 Percent at $1,248.96 Per Ounce
Spot gold was up 0.1 percent at $1,248.96 per ounce, as of 0432 GMT, after hitting its highest since July 11 at $1,250.55 earlier in the session.