Gold Price Forecast: Gold Price Remains Vulnerable

Gold Price Forecast: Gold price is pressuring lows near $1765. Gold eyes $1750 after rejection at the critical 200-Daily Moving Average (DMA) at $1796. Dynamics in the yields and dollar will be closely followed by gold traders.

Gold Price Forecast

Gold Price Forecast: The rising inflationary concerns-led earlier Fed’s tightening calls keep the buoyant tone intact around the Treasury yields, which limits the upside attempts in gold. Gold is looking to extend Friday’s decline towards the horizontal 21-DMA support at $1761.

A sustained break below the latter could bring the last week’s demand area at $1750-$1745 back into play. Further south, the multi-week lows of $1722 could be on the sellers’ radars. Gold bulls will need to recapture the 50-DMA at $1778 to revive the bullish interests. The next relevant target awaits at $1795, the confluence of the 100 and 200-DMAs. Buyers will then aim for the $1800 round number.

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Gold Price Forecast: Gold Price Remains Vulnerable via @marketinvestor
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