MCX Gold prices edged lower on Wednesday as a key technical resistance acted as a deterrent for the metal and the yuan weakened against the dollar on fears the U.S.-China trade war could escalate.
Gold MCX Tips
Gold Spot Fails to Break Upside Hurdle $1308 Level
Gold Silver Reports (GSR) – Gold Spot Fails to Break Upside Hurdle $1308 Level – Gold managed to temporarily break above trendline resistance, but with the inability to push above the $1307 mark, there is still a strong chance of near-term downside to build on the weakness seen over the past month.
Gold Prices Kiss Top Rs 32000 Jewellers Buying
Gold Silver Reports (GSR) – Gold Prices Kiss Top Rs 32000 Jewellers Buying – Traders said fresh buying by local jewellers and retailers at existing lower levels at the domestic spot market and a firm trend overseas, as political uncertainty in Italy and concerns of a possible China-US trade war spurred safe-haven demand, mainly led to the rebound in gold prices.
Gold Bullish Over $1344.50 and Bearish Under $1330.30, Volatility is Coming
Gold Silver Reports – Gold Bullish Over $1344.50 and Bearish Under $1330.30, Volatility is Coming – Gold futures are swinging with the movement in the U.S. Dollar, first hitting its highest level since September 11 before turning lower for the session.
Gold MCX Below 29955 Fresh Selling Support Key at 29520
Gold Silver Reports – ⭐⭐⭐⭐⭐ Gold MCX Below 29955 Fresh Selling Support Key at 29520 — Technically Gold market is under fresh buying as market has witnessed gain in open interest by 1.32% to settled at 5973.
