The gold price is oscillating around US$ 1,900 in the spot market going into Wednesday’s trading session as markets lie in wait for the Federal Reserve’s Jackson Hole economic symposium to get underway on Thursday.
2nd Update: MCX Gold Tips Today: 2nd Target Hit, Profit 1 Lot Profit 32,000; 327 points done.
Update: MCX Gold Tips Today: 1st Target Hit, Low 58524. 1 Lot Profit 20,000 MCX Gold 1st Target Hit. low 58,524
Free MCX Gold Tips Today: Sell Between 58730—58750 For Target 58550—58480—58330 SL 58959
Gold has been a valuable and sought-after precious metal for centuries, serving as a store of value, a medium of exchange, and a safe haven investment. As an investor or someone interested in the financial markets, you may be wondering what the future holds for gold prices. In this article, we will explore the factors that influence gold prices, examine historical trends, consider expert opinions, and outline potential scenarios for the future. So, let’s dive in and explore the fascinating world of gold price forecasting.
Spot Gold Weekly Forecast (August 8 – 12, 2022)
Gold Uptrend Key Level 👈️👈️👈️
The uptrend may be expected to continue in case the market rises above resistance level $1800, which will be followed by reaching resistance level $1820 – $1840.
Gold Price Forecast: Gold attracted some buying near the $1,785 region on Monday and ended the day in the green, snapping three consecutivedays of the losing streak to the lowestlevel since December 16. As investors digested a more hawkish tone coming out of the FOMC meeting last week, the US dollar witnessed aggressive longunwinding trade and recorded its biggest drop in nearly three weeks. This, in turn, was seen as a key factor that extended some support to the dollar-denominated commodity.
Gold Price: After falling below $1200 per ounce in 2018, gold rebounded sharply over the next 12 months, and a significant bullish trend began. Its yield increased by almost 20%, whereas its quotes went up to $1,556 per ounce. The rally continued in 2020. The COVID-19 pandemic increased the popularity of the precious metal as a hedging instrument, which has led to an increase in its price.
Gold Fundamental Forecast: Gold bulls scored another win last week, with gold prices rising nearly a full percentage point, pulling the yellow metal’s monthly gain performance into positive territory. Treasury yields pulled back across the curve into the weekend.