Spot Gold Price Forecast: The short-term technical outlook for Gold price remains more or less the same, with any recovery attempts likely to be short-lived as long as the 14-day Relative Strength Index (RSI) stays bearish.
Spot Gold
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Gold Investors Await Fed’s Response and US Inflation Report
Spot Gold Forecast For Today: Stock markets in the US will remain open on Veterans Day on Monday but bond markets will be closed, limiting the market volatility at the beginning of next week.
As Expected, Spot Gold Fell from $2640 to $2590
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Gold price today: Yellow metal declines after Fed cuts rates by 25 bps
Gold price today: Gold rates declined in the domestic futures market Friday morning on profit booking at higher levels after the US Fed cut rates by 25 bps on expected lines.
Downside Momentum likely to Accelerate Gold Below $2600
Gold Outlook: “The momentum break experienced on election day typically marks the end of such moves. But if that is the case, what can we expect from here? The melt-up has created a notable margin of safety for macro fund positions, which now hold significant paper profits on their extremely bloated length. Large scale selling activity from CTAs will only kick off below $2600/oz.”
Geopolitics, US election uncertainties drive gold’s record rally
Gold prices extended gains and scaled another record high on Monday, steered by elevated Middle East tensions and U.S. election uncertainty, while silver hit a near 12-year peak.
MCX Gold Tips: Buy Gold Above 76000 Target 76520——76740
We expect gold and silver prices to remain volatile this week amid volatility in the dollar index and geo-political tensions. Neal Bhai added.
Reason for rise in gold prices? Fed’s intentions, Israeli-Palestinian, North-South Korea tensions
Spot Gold tests resistance at $2,670. Gold pauses after bouncing following the end of a pullback. The precious metal appears to resume its dominant uptrend after a three-wave (abc) correction concluded at the October 10 lows.
अमेरिकी सीपीआई डेटा के बाद सोने की कीमत बढ़ी, फिर भी 2,630 डॉलर से नीचे रही (Hindi)
उत्तरी अमेरिकी सत्र के दौरान गुरुवार को सोने की कीमतों (Gold Prices) में कुछ सुधार हुआ, जो उम्मीद से ज़्यादा गर्म अमेरिकी मुद्रास्फीति रिपोर्ट के बाद लगभग 0.67% बढ़ गया, जिसे नरम अमेरिकी नौकरियों के आंकड़ों ने कम कर दिया। फिर भी, फेडरल रिजर्व (फेड) के एक अधिकारी की हाल की आक्रामक टिप्पणियों ने कीमती धातु (Precious Metal) की बढ़त को रोक दिया। Gold $2,603 के दैनिक निचले स्तर से उछलने के बाद $2,629 पर कारोबार कर रहा है।
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Gold Short Term Technical Forecast [24 Sep 2024]
Gold Technical Forecast: In the near term, and According to the 4-hour chart, some unconfirmed bearish divergences hint at a potential correction. Technical indicators pulled back from their recent highs with neutral-to-bearish slopes, supporting a near-term retracement. At the same time, Gold (Yellow Metal) keeps developing above bullish moving averages, with the 20 SMA accelerating north above the longer ones and acting as dynamic 1st support at around $2,597, and 2nd support at $2574.