Chicky_Bunch

Chicky_Bunch

Forecasting the gold price trend, although gold is falling, Everett Millman, market analyst at Gainesville Coins, believes that the gold market will continue to attract safe haven flows due to the Israel-Hamas conflict. He forecasts that gold will fluctuate above the $1,900/ounce range until there is some kind of ceasefire or the conflict subsides. Currently,...

Chicky_Bunch

Historically, the fourth quarter has been the time to see consumer gold demand in India skyrocket with an average of 243 tons purchased during this period, compared to the average quarterly demand of 163 tons.

Chicky_Bunch Updated 

At 6 a.m. on October 18, the world gold price was trading at 1,924 USD/ounce, up 4 USD compared to the price at the same time the previous day which was 1,920 USD/ounce. According to analysts, despite the USD still increasing in value and US bond interest rates reaching 4.8%/year, gold prices today still went up as the market remained skeptical that diplomatic...

Chicky_Bunch Updated 

World gold prices maintain an upward trend and are still "holding their position" amid price consolidation following recent solid increases. Rising US Treasury yields this week are a factor limiting gold's rise. However, the market is witnessing investors stepping up buying as most believe that gold prices will increase in the near future. Although gold is down,...

Chicky_Bunch Updated 

In early trading on Monday in the US, gold and silver prices were weaker due to a downside correction following last week's solid gains. Rising US Treasury yields to start the trading week were also a bearish daily factor for precious metals markets. It is not surprising to see speculators trying to "buy at low prices" in the context that risk aversion is still...

Chicky_Bunch Updated 

Last night, the world gold price sometimes dropped to 1,908 USD/ounce. The reason is said to be the rising international stock market. In particular, on Wall Street, the Dowjones increased sharply by 314 points, the S&P 500 increased by 45 points and the Nasdaq increased by 160 points. Perhaps, because stocks in the US and Europe increased in price, many...

Chicky_Bunch Updated 

On October 13, gold increased by 3.4% - the largest one-day increase in the past 7 months due to strong safe-haven demand from political, financial and short-term solvency instability. While business investors await further updates on the Israel-Hamas war, Fed Chairman Jerome Powell's speech later this week will also be closely watched for more clarity. US...

Chicky_Bunch Updated 

According to technical analysis, gold price is still in the bearish channel on the daily chart. If next week's gold price breaks the 1,940 USD/oz zone, it will exit this downward channel. However, after overcoming this zone, next week's gold price will face a strong resistance zone at 1,970 - 1,987 USD/oz. Here, the pressure to take profits will be huge,...

Chicky_Bunch Updated 

Next week's gold price may continue to increase due to the escalation of the Israel-Hamas conflict “ETFs continue to hesitate to return to buying gold, which could put short-term gold prices under profit-taking pressure, especially when gold prices approach the 1,950 - 1,980 USD/oz range. However, if ETFs return to buying gold, the short-term gold price will...

Chicky_Bunch

Expert Bart Melek, commodity strategist at TD Securities, said investors taking profits and being cautious with risky assets have put pressure on gold prices. Gold prices are likely to head towards $1,880/ounce and could soon break the $1,900/ounce threshold. According to Mr. Edward Moya, in the short term, this is the time to buy, even if bond yields rise...