Spot Gold Forecast: Gold price failed to break above $1,800 in August, with the downtrend continuing. Key supports of $1,700 and $1,675 have been broken. Strategists, Expect Gold (XAU/USD) to dive towards $1,624.
Spot gold Price
Gold Steadies After Sinking to Two-Year Low as Rate Hike Looms
Gold steadied after plunging to its lowest level in two years, as economic data from the US increased the likelihood of prolonged monetary tightening and stoked fears of recession.
Gold Price Short Term Forecast [08-09-2022]
Gold Price Short Term Forecast: The Gold (Yellow Metal) pair neared a critical Fibonacci resistance level before resuming its slide, the 61.8% retracement of its July/August rally at $1,730, a sign that bears are willing to add on spikes. In the daily chart, the bright metal is developing below bearish moving averages, while technical indicators hold within negative levels, the Momentum flat but the RSI turning lower, in line with further slides ahead.
Spot Gold Heads for Fifth Monthly Drop as Fed Stays Hawkish on Rates
Spot Gold headed for a fifth straight monthly drop, the longest losing run in four years, as more robust monetary tightening by the Federal Reserve looks likely.
Buy Spot Gold Above $1750 Target Price $1775—$1792 | Neal Bhai
The spot gold technical outlook remains bearish with gold failing to break above the 20-day SMA for the 18th straight trading day. Additionally, the Relative Strength Index (RSI) indicator on the daily chart stays slightly below 50, confirming the view that sellers are looking to remain in control of gold (Yellow Metal) action.
Spot Gold Price : Keep Eye on $1758 as support – Neal Bhai
Gold Price Technical Forecast : Spot Gold Price Trading Tips : Keep Eye on $1758 as support. Above $1758 Target Price $1845.