Spot gold eased on Friday as the dollar edged higher, denting bullion’s appeal and setting it on track for a second weekly decline, while lingering concerns over the path to recovery from the coronavirus limited losses.
Spot Gold
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Gold Below $1960 Down Trend Target $1862—$1834 – Neal Bhai
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.
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.