MCX Gold Buy on Dips Target 49650-50500

MCX Gold Buy on Dips: Since the beginning of this month, gold has continued to be in an upward trend. Especially post the mixed FOMC minutes, gold held high. The minutes didn’t hint at any timeline for scaling-back the asset purchases by the Federal Reserve so that has been a positive factor for gold. Also, the focus on the rising delta virus cases, the worries over lockdown kept the gold prices steady.

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Spot Gold Forecast: Gold Price Sustain Near $1903

Spot Gold Forecast: Gold Current TrendGold 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.

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GOLD Weekly Forecast (January 22 – 29, 2020)

Gold Uptrend Forecast :

Gold weekly forecast uptrend may be expected to continue, while market is trading above support level $1827, which will be followed by reaching resistance level $1875 and if it keeps on moving up above that level, we may expect the market to reach resistance level $1905.

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