Spot Gold Forecast Report: March Durable Goods Orders data and the Conference Board’s Consumer Confidence Index for April will be featured in the US economic docket on Tuesday. Ahead of Thursday’s first-quarter Gross Domestic Product report, however, investors are likely to ignore Tuesday’s data.
Spot Gold
Gold Prices Near Highest Since November as Traders Seek Inflation Hedge
Gold prices held near the highest level in almost two months amid demand for an inflation hedge, while the bond market sell-off stalled and U.S. equities continued to retreat.
Spot Gold Current price $1,772, Bearish breakout $1,745
Gold Price Forecast: Gold prices plunged heading into London’s close, hitting $1,766.38 a troy ounce. The dollar gathered momentum following the release of the US Producer Price Index, which hit a record 9.6% YoY in November, higher than anticipated.
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 REPORTS : Gold Current Price $1741 Target PC | Neal Bhai
Gold (Yellow Metal) price in India dropped below Rs 46,000-mark on Tuesday. Gold price remained under pressure since last week despite an unchanged monetary policy by the US Federal Reserve.
Spot Gold Forecast: Above $1730 Target $1770——$1792 | Neal Bhai
Spot Gold Forecast: Biden scaled back on his infrastructure bill. However, with all the remaining cards still in play, his economic agenda should be positive for gold.
Spot Gold Holds Near $1,790, Upside Seems Limited | Neal Bhai
Spot Gold traded with a mild positive bias through the mid-European session, albeit continued with its struggle to find acceptance or build on the momentum beyond the $1,790 round-figure mark.