Precious Metals – ABN AMRO’s Senior precious metals strategist, Georgette Boele, notes that gold prices have gained 17% this year and argues that gold prices have risen too sharply in a short period and are likely to make a correction in the coming months.
CRUDE OIL FUTURES ARE NOW IN OFFICIAL BEAR MARKET ??
Crude Oil prices fell more than 1% on Tuesday, with Brent crude settling near seven-month lows below $60 a barrel as trade tensions between the U.S. and China intensified worries about weakening global demand.
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.