Spot gold prices fell 1% to $1,851.50 per ounce by 10:10 a.m. EST (1510 GMT), retreating from a two-week high hit on Thursday. The metal was up 1.4% so far this week.
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Gold Edged up, Bullion Has Been Pressured lately By Stronger Dollar
Gold edged up, recovering from an almost seven-week low, amid caution in markets as investors assessed the outlook for the dollar and the timeline for a U.S. stimulus package.
Gold Price Forecast 2021 : Gold 1Q Outlook Bullish Headed, Target $1965
![MCX Gold Target 98,500 Very Very Soon, Buy on Dips [21 April 2025]](https://goldsilverreports.com/wp-content/uploads/2020/03/gold-052904-gsr.jpg)
What started with a bang is now ending with a whimper. After a meteoric rise in gold prices through the first three quarters of 2020 (gaining +24.3% from January 1 through September 30),gold prices cooled off in 4Q’20, having lost around -1% at the time this forecast was written in December 2020.
Spot gold Prices Have Been on The Front Foot in Recent Trade
Spot gold prices have been on the front foot in recent trade, with a boost coming at 13:30GMT in the form of slightly softer than expected US Consumer Price Inflation numbers. Spot gold popped above the $1840 level and Wednesday Asia session highs at $1842, but has so far failed to break above $1850. As things stand, the precious metal trades with gains of close to $8 or 0.5% on the day.
GOLD TECHNICAL ANALYSIS : Gold Support Zone $1840—$1838, Below Target $1810 ——$1780 – Neal Bhai Reports
GOLD TECHNICAL ANALYSIS : Gold prices are under down trend now-familiar range support in the 1840-$1838 Level. Breaking below this barrier on a daily closing basis looks likely to open the door for target $1810/oz figure to challenge former resistance in the $1780 zone. Alternatively, an upswing past the $1910 inflection region probably targets the swing top @ $1958.
Silver Turns Positive After Touching Two-Month Low – Gold Silver Reports
Silver turns positive after touching two-month low. Gold prices reversed course and turned positive on Thursday, after touching a two-month low, as the dollar retreated slightly and as Federal Reserve officials reaffirmed to keeping monetary policy loose.
Spot Gold Melt Like ICE – $1960 To $1911.24 – Neal Bhai
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.