Gold Forecast for Today: “A sustained move below the $1,744 psychological level will be on their radars to aim for the next downside target near the $1,732—$1,724 region.”
“Acceptance above the 21-Daily Moving Average (DMA), now at $1,765, is crucial to initiate any meaningful recovery. However, the bearish 50 DMA at $1,775 will be a tough nut to crack for bulls. Fresh buying opportunities above the latter could warrant a retest of Wednesday’s high at $1,785.”
- Gold Falls to Lowest in Almost Two Weeks as Bond Yields Rise
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- Investment Demand to Lift India’s Silver Imports to Record High
- Gold Lifetime High Low | Gold All Time High Low
Open interest in gold futures markets rose for the second session in a row on Thursday, although this time by just 481 contracts according to CME Group’s flash data. Volume, instead, remained choppy and shrank by around 14.1K contracts, partially reversing the previous daily build.
