Spot Gold Forecast: Gold Current Trend – Gold price are consolidating near $1903 in the morning session after a moderate increase the day before, which was supported by the weakness of USD. The US currency remains under significant pressure after last Friday’s US labor market report for May reflected slower-than-expected growth in Nonfarm Payrolls.
Gold Forecast: Gold (Yellow Metal)Under Selling Zone – On the daily chart, the third wave of the higher level (3) formed, a downward correction developed as the fourth wave (4), and the formation of the fifth wave (5) started.
Gold Price Forecast & Current trend: Gold prices have declined for the second session in a row, retreating from record highs since the beginning of the year and testing 1900.00 for a breakdown.
Gold Forecast And Current Trend: Gold continues its corrective growth, trading at 1906.0 amid the formation of new factors that act as global support for quotations. The day before, Reuters published statistics on Chinese gold imports, according to which the PRC imported 52.821 tons of precious metal in April only through Hong Kong, which is 219% more than in the previous month.
XAU/USD Forecast And Current trend: : Gold prices are showing ambiguous dynamics during the Asian session, consolidating at 1900.00.
Gold Uptrend scenario
Gold Forecast : An uptrend will start as soon, as the market rises above resistance level $1759, which will be followed by moving up to resistance level $1815.
Gold Forecast : Uptrend scenario – An uptrend will start as soon, as the market rises above resistance level 1880, which will be followed by moving up to resistance level 1951.
Gold Price Forecast 02/02/2021 – Downtrend scenario : An uptrend is not expecting today. The downtrend maybe expected to continue, while market is trading below resistance level 1863, which will be followed by reaching support …
Gold Forecast For Today and Gold Analysis : Bullion Short-term under buy zone between $1835 – $1815 target price $1900 – $1907 Stop Loss for Paid Members.