Spot Gold May Rise into a Range of $1258-$1266 per Ounce

Spot gold may rise into a trading zone of $1258—$1266 level per ounce, as it has broken a resistance at $1245, Technical Analyst Neal Bhai.

Global stocks extended their slump on worries over slowing growth and fears that a fresh flare-up in tensions between U.S. and China could quash chances of a trade deal.

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MCX Silver Tips – Sell Karo Aur So Jaao Next TARget – 35510—34734 – Neal Bhai Reports

MCX Silver Tips – Sell Karo Aur So Jaao Next TARget – 35510—34734 – Neal Bhai Reports

December gold futures were last down $5.60 an ounce at $1,222.40. December Comex silver was last down $0.257 at $14.245 an ounce. silver prices are sharply lower in early U.S. trading Friday, pressured by a firmer U.S. dollar index on and sharply lower crude oil prices.

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MCX Silver Intraday Support 36420

Gold Silver Reports (GSR) – New York Fed President John Williams said the Federal Reserve “will be likely raising interest rates somewhat.” The recent winning streak began when Fed Chairman Jerome Powell warned last Wednesday of slowing demand abroad, fading fiscal stimulus at home and the lagged economic impact of the Fed’s past rate increases, suggesting that a pause in tightening may well come in 2019.

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Why Gold Prices Are Rising

Goldman Sachs Group Inc. says that “fear” has made a comeback and gold is benefiting as stocks slide and investors fret more about the possibility that the US economy may tumble back into recession.

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