Gold Market Report, 19 July 2023: सोने की कीमत (Yellow Metal Price) एक महीने से काफी बढ़ रही है। भारत में इसकी कीमत 54 हजार प्रति 10 ग्राम के उपर चला गया है। शायद इसी कारण है कि पूरी दुनिया में सोने की मांग (Gold Demand) घटी है। लेकिन अपने यहां (भारत) की बात अलग है। भारत में तो इस साल पहली तिमाही में सोने की डिमांड में 43 प्रतिशत की तेज़ी आयी।
Gold Forecast: With the global central banks moving towards a higher interest rate environment, led by the US Fed, it’s not surprising to see the pressure on Gold prices.
Gold Forecast And Technical Outlook For Today: The spot gold price (Yellow Metal) is stalling at an hourly resistance zone near $1926—$19,33 while Russia promised at the peace talks in Istanbul to drastically scale down its military operations around Kyiv and the northern Ukrainian city of Chernihiv.
Gold Forecast For Next Week: Geopolitics is likely to remain the primary market driver next week. A de-escalation of tensions could trigger arisk rally andcause gold (Yellow Metal) to come under heavy selling pressure. On the other hand, a prolonged threat of a Russian invasion could provide another boost to gold by forcing investors to stay away from risk-sensitive assets.
Gold Forecast Today, Gold Price Outlook, Gold Trading Tips: Last 2 days Yellow Metal (Gold) gain can be attributed to weakness in the US Dollar. The US dollar came lower after U.S. private payrolls fell for the first time in a year in January as soaring COVID-19 infections disrupted business operations.
Gold prices today built on its goodish intraday positive move and climbed to three-day tops, around the $1720 region during the early North American session.
Spot Gold Below $1703 Downside Target $1690—$1682 – Don’t Panic @ Lower Level
Gold could reach $2,000 this year
An inverse head and shoulders pattern forms when an asset makes a low, a lower low, and a higher low – it implies a bottoming and change in trend direction.