MCX Gold Price Forecast

MCX Gold Price Forecast: Buy or Sell MCX Gold – Neal Bhai

MCX Gold Price Forecast: Gold is trading at 2.5 year low in COMEX. The big news is GBP falling to an all time low after unveiling a mini budget on Friday. Indian rupee followed its peers and opened at fresh all time low giving some cushion to gold prices in MCX. Looks like this dollar rally is not peaking.

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Gold Price Prediction

MCX Gold Price to Trade Sideways, Trading Zone 49900 To 51300

MCX Gold Price to Trade Sideways: MCX Bullion prices ended higher, reporting the first weekly gain in the last four weeks supported by dollar decline and safe haven buying. The traders and investors weighed on the dollar dragging down from 20 year highs over inflation worries and slowdown fears.

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Gold Price Forecast

Bullion Forecast Today: Gold High 50685, Resistance Key 50800

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.

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Gold Forecast

Gold Weekly Update : Bullion Trend Sideways, Trading Zone 50800 to 49500

Gold Weekly Update: The CFTC data showed that money managers have decreased their net long positions in gold by 9600 lots in last week. Silver prices traded lower with spot silver prices at COMEX plunged by 4.53% to $18.04 per ounce for the week. MCX Silver December futures declined by 3.91% to Rs 52637 per KG for the week. Silver prices traded down on demand worries over China economic growth and stronger dollar. The CFTC data showed that Money managers have increased their bearish silver bets by 5,425 net-short positions to 21,059 to three year high.

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