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.
Silver
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Gold testing bearish commitments at Critical Triangle Resistance on the Daily Chart
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.
Gold Forecast: MCX Gold is Nearing its Resistance of 51410
Gold Forecast: Concerns over slowing growth in the face of an aggressive Federal Reserve are stirring serious recession fears. We feel despite aggressive rate hikes, inflation will not subside considerably unless energy prices cool down.
Spot Silver Forecast: Focus to Friday official labour Report
Silver Forecast: A barrage of US labour market data in recent trade gave mixed signals, with ADP’s estimate of employment change for May missing consensus and adding some downside risks to the market’s expectations for a 325K gain in non-farm payrolls in May on Friday.
Gold Price Forecast: MCX Gold June Support 50700 and Resistance 51550, Buy on Dips
Gold Price Today, Gold Price Outlook, Gold Price Forecast: Weakness in the dollar index along with a fall in U.S. Treasury yields from their recent highs has provided a supportive environment for gold.
MCX Weekly Research Report 23 To 27 May 2022 [Bullion Market Up]
Top 5 Commodities MCX Weekly Research Report, 23 To 27 May, 2022 Weekly, Monthly MCX Live Research Reports Released by Neal Bhai Experts Research Teams, India.