Gold Price Forecast: Keep Eyes on $1,707 and $1,692

Gold Price Forecast: Keep Eyes on $1,707 and $1,692

Gold (Yellow Metal) exposed to additional downside risks: “The critical ADP Employment Change report will be published after a two-month break, potentially driving the next leg higher in the buck. An upside surprise in the ADP numbers cannot be ruled out, given the lower estimates at +200K in August. Gold’s next price direction remains south against a backdrop of higher rates and upbeat US data.”  

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Gold Price Forecast: China Can Recover From The crisis of Recession

Gold Price Forecast: China Can Recover From The crisis of Recession

Gold Price Forecast: Expectations that China may overcome the recession woes and Fed’s Powell may repeat his cautious statements at the Jackson Hole also seemed to have tested the DXY bulls. “Various Chinese state media agencies are coming to the rescue of the local currency, the yuan, after the recent depreciation, justifying that the country’s strong exports should offset a stronger dollar and hawkish Fed rate hikes,” mentioned Reuters on Wednesday. Concerns about China become important for gold traders due to the dragon nation’s status as one of the world’s largest gold consumers.

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धीरे-धीरे 3 से 4 भागों में सोना खरीदें

Spot Gold slip to a one-week low of $1,772 [16-08-2022]

Spot gold (Yellow Metal) fell to a one-week low of $1,772 a troy ounce on Monday as risk aversion benefited the American currency against all of its major rivals. gold managed to bounce after the US opening, as Wall Street opened in positive territory despite the ruling dismal market mood. Softer-than-anticipated Chinese data released at the beginning of the day spurred risk aversion as the focus returned to a potential economic setback.

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Spot Gold High $1720 and Silver $18.97 | Gold Silver Boom Boom

Spot Gold High $1720 and Silver $18.97 | Gold Silver Boom Boom

Gold Price extends bounce off an upward sloping support line from March 2021. That said, the corrective pullback from the yearly low also takes clues from the oversold RSI (14) to direct Yellow Metal buyers towards a horizontal area comprising multiple levels marked since early 2021, surrounding $1,727.

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सोने की कीमत का समर्थन $1700 के स्तर पर है [HINDI]

सोने की कीमत मंगलवार को नौ महीने के नए निचले स्तर पर गिर गई, एक बिंदु पर $ 1725 से नीचे गिर गई। 1720-1740 डॉलर के क्षेत्र में, पिछले 15 महीनों की गिरावट में सोने को समर्थन मिल रहा है, और दैनिक चार्ट स्पष्ट रूप से दिखाते हैं कि सोने के विक्रेता हाल ही में धीमा हो रहे हैं।

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सोने की कीमत का पूर्वानुमान: सोना नई ऊंचाई के करीब, लक्ष्य 2,400 डॉलर है

Spot Gold Price Forecast: Next Crucial Support Near the $1,712 Level

Spot Gold Price Forecast: The combination of diverging forces held back traders from placing aggressive bets and led to subdued price moves for the third successive day on Monday. Nevertheless, the bias still seems tilted in favour of bearish traders as the focus now shifts to the latest US consumer inflation figures, due on Wednesday. Apart from this, the US monthly Retail Sales data and Prelim Michigan Consumer Sentiment on Friday will influence the USD price dynamics. Traders will further take cues from the broader market risk sentiment to grab short-term opportunities around gold.

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