Bullion Forecast: Yesterday gold prices came under pressure as after recovering till $1680, it dropped sharply to $1661 on account of a jump in US dollar. The US Dollar jumped as GBP saw sharp drop after Bank of England Governor Andrew Bailey warned fund managers they have until the end of this week to wind up positions as BOE is looking to end its bond buying program.
Neil Bhai
MCX Gold Silver Prices Slip, Analysts Say ‘Sell on Rise’
MCX Gold Silver Prices Slip: The safe-haven metals are being hit hard by a higher U.S. dollar index and rising U.S. Treasury yields. Traders are looking ahead to key U.S. inflation reports on Thursday. Yesterday the psychological level of $1700 has been breached and is once again testing the levels of $1650-1640.
Silver Price Analysis: Silver to trade at $20.50 by year-end
Silver Price Analysis: Silver (White Metal) is trading slightly above the $20.50 mark. This price is the year-end forecast of strategists at Commerzbank for the precious metal.
Gold Price Forecast: Will Gold chart a bull penant on weak US NFP?
Gold Price Forecast: Gold price is trading on the back foot but holding above the $1,700 mark on the final trading day of the week. Despite a three-day downtrend, the bright metal is on track for the largest weekly gain since March, up 3% so far this week.
Spot Gold Weekly Forecast: Keep Eyes on $1,700 as next target
Spot Gold Weekly Forecast: The turmoil in global bond markets caused by the UK gilt sell-off at the beginning of the week weighed on the low-yielding gold. With the benchmark 10-year US Treasury bond yield rising toward 4% on Monday, gold (XAU/USD) turned south and registered its lowest daily close since March 2020 at $1,622.
Gold Weekly Forecast (September 26 – 30, 2022)
Gold (XAU/USD) Weekly Forecast:
Gold Uptrend scenario
An uptrend will start as soon, as the market rises above resistance level $1670, which will be followed by moving up to resistance key level 1700.