Gold Silver Reports — Technically MCX Gold is getting support at 28444 and below same could see a test of 28324 level, And resistance is now likely to be seen at 28775, a move above could see prices testing 28820.
Gold Forecast
MCX Gold Support Level at 28570
Gold Silver Reports — Technically Gold market is under long liquidation as market has witnessed drop in open interest by 8.93% to settled at 3091 while prices down 145 rupees.
Gold Set to Soar to $1,500 as Inflation Makes a Comeback
Gold Silver Reports — Gold is poised to rally to levels last seen four years ago as rising inflation and negative real interest rates combine to boost demand, according to Incrementum AG, which says that the precious metal may be in the early stages of a bull market.
Yellow Metal Stays Bearish Ahead Of Weekend
Gold Silver Reports — Gold continued to slip in afternoon as a firm opening in European equities kept the metal under check. The commodity has extended a drop from about two month highs extended. Traders are eyeing the weekend and taking some money off the table after the sharp array of gains in the metal this week. The counter is quoting at $1248 per ounce, down 0.25% on the day. MCX Gold futures are also down 0.14% at Rs 28760 per 10 grams. Worries over poor speculative demand seem to be weighing on the metal.
GOLD FORECAST: GOLD SEES SHARP RECOVERY AFTER TESTING LOWS NEAR $1200
Gold Silver Reports — A sharp recovery was noted in Gold following the slightly dovish stance of US Fed. COMEX Gold futures soared around a two week high as continued weakness in the dollar following the Federal Reserves cautionary stance on the pace of interest-rate increases this year boosted the sentiments.
Gold Spot Weekly Forecast Report March 6-10
Gold Silver Reports ⭐⭐⭐⭐⭐ — Gold prices declined in last week’s trading as the US dollar index (DXY), which measures the greenback’s strength against a basket of six major currencies, rallied. Gold prices fell to a low for the week on Friday, at $1,223 an ounce, the lowest level traded since February 15. At week’s end, however, the contract for April settlement on the COMEX division of the New York Mercantile Exchange ended well off the low of the day at $1,235/ounce. This represented a loss of 1.8% for the week overall.