Spot Gold Price Technical Analysis: Boosted by a weaker dollar and growing inflationary pressures, gold prices rose to a near five-month high on Tuesday. The spot gold was up 0.2 per cent at $1,911.45 per ounce by 0255 GMT, after hitting its highest since Jan. 8 at $1,914.26 earlier in the session.
Gold price seesawed between tepid gains/minor losses through the early North American session and was last seen trading in the neutral territory, around the $1,880 region.
Spot Gold price (Yellow Metal) extended its choppytrend into the second straight session on Thursday, although remained within a familiarrange below the three-month highs of $1890.
Spot gold kept positive tone on Thursday despite warning technical signal of indecision and possible stall from Wednesday’s long-legged Doji candle.
Gold Price Analysis; Gold finally broke out of its intraday consolidative trading range and surged to near three-month tops, around the $1,843 region during the early North American session.
MCX Gold Mini All Target Hit: It has finally happened – Gold has staged a convincing break above the $1,800, hitting a high of $1,814.58 at the time of writing. Falling US Treasury yields have prompted investors to buy gold, and cascading stop-losses have also been attributed to the upswing in the price of the precious metal.