Gold Price Forecast: Q1 is not winding down in the way that many Gold bulls had imagined, myself included. For the past two weeks Gold prices have been stuck in a fairly consistent albeit relatively small trading range, spanning about 2% of Gold spot price as a couple of Fibonacci levels have helped to define this mean reversion.
Gold imports, which have a bearing on the country’s current account deficit (CAD), fell 3.3% to $26.11 billion during April-February 2020-21, according to the commerce ministry data.
spot gold price forecast 2021 : Gold bulls take a breather after the 2% recovery rally witnessed on Tuesday. The haven demand for the US dollar has returned amid a cautious market mood, as investors await the House of Representatives vote on the Senate’s $1.9 trillion stimulus bill this Wednesday.
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.
Will gold prices continue to fall? The rise in interest rates and low liquidity created pressures on the international gold prices during February 2021.
Gold silver futures prices slip on Tuesday, even as analysts believe the recent risk-off sentiment may revive safe-haven bets for bullion. Analysts said the upcoming announcement of further stimulus measures by the newly elected US government may support gold, as a perfect hedge against possible inflation.