The gold (yellow metal) has clearly broken the resistance of the channel down pattern. It occurred in a sharp four hour jump, which also passed the resistance of the 55, 100 and 200-hour simple moving averages. Eventually, the metal’s price was stopped by the 1,765.00 level’s resistance.
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Spot Gold Price Regained For Target $1765—$1778 | Neal Bhai
Gold price has regained poise and looks to take on the key resistance & target at $1765—$1,778, which is the convergence of the previous day’s high and Fibonacci 38.2% one-month.
MCX Gold 46580 Silver 59653 All Target Hit – Neal Bhai Reports
Gold (Yellow Metal) reversed an early North American session dip closer to multi-week lows and shot back above the $1,741 level in the last hour, albeit lacked follow-through. The uptick was exclusively sponsored by the softer US dollar, which tends to benefit the dollar-denominated commodity.
Gold Price Could Remain Volatile in Range Between $1,742—$1,806
Gold price snapped its three-day recovery momentum and returned to the red on Wednesday, hurt by the US Federal Reserve’s (Fed) hawkish surprise and the renewed optimism over China Evergrande repayment story. In the early part of the day, gold remained in a consolidative mode in familiar ranges around $1778, in a typical pre-Fed caution trading.
Gold Rate Today Dropped After US Federal Reserve Signalled
Gold Rate Today Dropped: Gold and silver rates fell sharply in Indian markets today, tracking a drop in international rates. On MCX, gold futures were down 0.6% to ₹46,377 per 10 gram while silver rates slumped 1%.