Gold Price Forecast: Gold is edging lower but holding above $1,800. In the opinion of FXStreet’s Dhwani Mehta, a corrective decline is likely to resume amid risk-off mood and a bear pennant.
Gold futures are edging lower early Friday, but the precious metal remains in a position to post its fourth consecutive weekly gain after U.S. Federal Reserve Chairman Jerome Powell dampened investor fears of a faster tightening of monetary policy earlier in the week.
Gold Price Forecast: Gold markets have rallied to kick off the trading session on Thursday initially, but then gave those gains back to show signs of confusion still. Ultimately, the 50 day EMA underneath could offer support, and it is worth paying close attention to gold at this point in time, because there is a huge argument about inflation going on right now.
Gold Price Forecast: Gold bulls take a breather around $1,826 as European traders brace for Thursday’s bell. In doing so, the yellow metal clings to the key 200-DMA resistance after rising the most in six weeks to refresh the monthly high.
Gold Price Forecast: Gold once again showed some resilience below the $1,800 mark, instead attracted some dip-buying and reversed modest intraday losses. The momentum extended through the Asian session on Wednesday, though the upside seems limited ahead of Fed Chair Jerome Powell’s semi-annual congressional testimony, according to FXStreet.
Gold Price Forecast: Gold is changing hands above $1,800, benefiting from the upbeat market mood. As FXStreet’s experts notes, the bull-bear tug-of-war continues while focus remains on US CPI. A positive tone around the US Treasury bond yields might keep a lid on any further gains.
Gold Forecast: Gold markets have initially pulled back a bit during the course of the trading session on Monday, only to turn around and reach towards the 200 day EMA. The $1800 level is a bit of a magnet for price as well, so with that being the case I think that this is a market that is trying to figure out where to go for the longer-term move.
Gold Forecast: Gold futures closed higher for a third straight week while posting its best performance in seven as Treasury yields dropped to their lowest levels since February, dragging down the U.S. Dollar.
Gold Price Forecast: Gold rises above the $1,800 level extending the previous day’s gain on Monday, but failed to preserve the upside momentum. A rebound in US Treasury yields from the lower levels exerted pressure on the yellow metal. An uptick in the US 10-year benchmark bond yields underpins the demand for the US dollar.
Gold Price Forecast: Gold price appears to lack a clear directional bias, ranging in Thursday’s trading band near $1800. Thursday’s Doji keeps sellers hopeful amid dollar’s rebound. Gold traders remain hopeful that recovery headwinds would compel central banks to maintain a prolonged accommodative monetary policy stance.