Gold Below $1960 Down Trend Target $1862—$1834, Gold rebounded Wednesday, extending a series of wild swings that saw the metal hit a record on Friday before plunging to below $1,900 an ounce.
Spot Gold
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Gold MCX Yesterday Hit 1st Target 55400, Above 54900 Target 2nd 56500
Gold MCX Yesterday Hit 1st Target 55400, Above 54900 Target 2nd 56500
Gold and silver prices moved higher today in Indian markets amid a global rally. On MCX, gold futures hit a new high of ₹55,390 per 10 gram after it rose 1.35%. Silver futures surged 4% to ₹72,654 per kg. In the previous session, gold futures on MCX had rallied about ₹900 or 1.7%, hitting ₹54,612 at intra-day high. Silver had surged ₹4200 or 6.4% in the previous session.
Gold Spot I Told You Above $1930 Target $1972—$2020, 1st Target Hit Next Wait 2nd Target.
While the rally appeared to pause, analysts who say gold is overvalued aren’t expecting a substantial decline. A correction probably will be measured, thanks to the weak dollar and chronic turmoil in the global economy, BNP Paribas SA said.
Gold Spot Above $1930 Target $1972—$2020 – Neal Bhai Reports (NBR)
he gold market made its historic move Sunday evening during the Asian trading session. First gold spot hit its all-time high above $1,920 and then August futures quickly followed suit. August gold last traded at $1,922.70 an ounce, up more than 1% on the day.
GOLD EXTENDS BULL TREND TO 1900
Overbought markets can be complicated things: While the backdrop is less assuring for continuation, there’s usually a reason for why the market became overbought in the first place. And, those reasons can certainly continue… and continue and continue, just as we’ve seen in Gold.