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Gold price trades higher around $1,930 a troy ounce, rebounding from the losses registered in the previous week. The pullback in the USD is providing support in strengthening the prices of Gold, which could be attributed to the lower likelihood of the US Fed keeping interest rates unchanged in the upcoming September.
GOLD SELL : 1926
TP. : 1920
TP....
Nevertheless, the XAU/USD remains on track to register losses for the first time in the previous three weeks. In the absence of any relevant market-moving economic data from the US, the US bond yields will continue to play a key role in influencing the USD price dynamics. Apart from this, the broader risk sentiment will drive demand for safe-haven assets and...
Alternatively, Gold price will need to recapture the 50 DMA support-turned-resistance at $1,932 on a daily closing basis to make another run toward the 100 DMA hurdle at $1,951.
Further up, the static resistance of $1,970 and the July 27 high of $1,982 will challenge the Gold price recovery.
GOLD BUY : 1919
TP : 1925
TP : 1930
TP : 1935
SL : 1910
Gold oscillates between $1,935 and $1,915, US PMIs eyed
Gold Price seesaws within a key trading range despite the previous day’s heavy loss. Fears of economic slowdown in Beijing contradict US soft landing chatters and weigh on the Gold Price. US ISM Services PMI, Fed talks eyed for fresh impulse.
Gold buy 1925
Target 1929
Target 1932
Target 1935
Sl1913
Gold price touched its highest level in a month above $1,950, gaining more than 1% for the second straight week. The yellow metal benefited from retreating US yields after disappointing employment-related data releases from the US.
Gold buy 1926
Target 1930
Target 1935
Target 1943
Sl 1920