MCX Gold settled down 2.33% at 38894 dropped sharply posting their largest one-day dollar loss in almost three years to settle at a two-week low.
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Spot Gold Break $1480, Bears can Target a Deep Retracement back to the $1440 — $1408
Spot Gold Updates : The absence of further escalation, on a break back below the $1480, bears can target a deep retracement back to the $1440—$1408.
Spot Gold Bulls Will Need to Break Above 1,511 – Gold Silver Reports
The Spot Gold bulls will need to break above 1,511, the 2019 high, to travel north towards 1,530.00 and 1,555.00 resistances.
Gold is trading above its main simple moving averages suggesting bullish momentum in the medium term. Support is seen at 1,472.00 and the 1,452.00 levels.
MCX Gold (Oct) Hit New Life Time High of Rs 38,488
Gold prices on Wednesday surged Rs 1,113 to hit an life-time high of Rs 38,488 per 10 gram in the national capital on sustained buying from jewellers amid strong trend overseas as fresh trade tensions between the US and China prompted investors to move towards gold as safe haven asset.