Gold Forecast: Gold prices held firm after a rally witnessed in the past few sessions, hovering near two-week high, helped by a subdued dollar, while investors awaited U.S. inflation data that could provide cues on the Federal Reserve’s interest rate hike path.
Bullion Forecast Today: Gold prices recovered sharply from a six-week low as a worsening energy crisis in Europe drove up safe haven demand. Metal price also witnessed gains, after U.S. data showed moderate wage growth in August and a rise in unemployment rate to 3.7% suggested the labour market was starting to loosen.
Gold Forecast: Gold steadied a bit around $1750 after witnessing a fall in past few sessions. Dollar eased off a 20-year high, offsetting some pressure from expectations of the Fed keeping interest rates higher for longer to combat inflation.
Gold Price Forecast: Gold prices were trading flat in India on Tuesday, on weak global cues. On Multi Commodity Exchange, gold August futures were trading lower at …
Gold Price (Yellow Metal) pulls back to $1,878, after rising to the highest levels since May 09, during Monday’s Asian session. The precious metal’s latest weakness could be linked to the US dollar’s broad gains ahead of this week’s Federal Reserve (Fed) monetary policy meeting, as well as the risk-off mood. Additionally, a short-term trend line resistance also challenges the bullion buyers.
Bullion Forecast: Gold Price picked up renewed bids on Thursday and stormed through the $1,850 hurdle to hit fresh monthly highs at $1,871, surpassing the previous week’s top of $1,870. In doing so, the yellow metal extended Wednesday’s upturn from ten-day troughs of $1,829.