Gold Forecast, Gold Rate For Today, Gold Price Report: Gold rate was flat on Tuesday as traders await rate hike announcements from central banks across the globe, while silver rate was up 0.56%.
MCX Gold Forecast and Bullion Report by Neal Bhai: किसी भी लंबी स्थिति को बुक करने के लिए मौजूदा समय में सावधानी बरतने की आवश्यकता है और किसी भी लंबी स्थिति को शुरू करने के लिए 53300-53000 तक मूल्य के सही होने की प्रतीक्षा करें।
Spot Gold headed for a fifth straight monthly drop, the longest losing run in four years, as more robust monetary tightening by the Federal Reserve looks likely.
Jackson Hole Economic Symposium: Federal Reserve officials maintained their hawkish view and were committed to getting inflation back to its 2% target, minutes from the July 26-27 meeting showed. Participants at the session said that for the central bank to scale back its rate hikes, inflation reports due to be released before the next meeting would need to confirm that the pace of price growth was cooling.
Gold traded at the lowest level in more than three weeks as Federal Reserve officials reiterated their commitment to tighter monetary settings to curb inflation.
Spot Gold Forecast: “As the Fed is still committed to raising rates, so as to fight escalating prices, this is negative for gold, especially when the USD looks firm. The outlook for Fed policy and global growth is likely to prove USD supportive over the short to medium term, even though the path to this further USD strengthening over the coming months is unlikely to be a straight line upwards.”
Bullion Weekly Forecast : Gold (Yellow Metal) has shown some good strength recently as it comes off support created via a couple of lows formed during 2021. The $1685—$1690 area is looking like a good floor for now, but the bounce may be put to the test this coming week.