Daily Reports

Gold trading at critical support of $1950-60

Daily Report

Gold is trading at critical support of $1950-60, breaking this will lead to the break of a medium-term ascending channel. This will lead prices to fall to $1935 (Rs 59200) and $1900 (Rs 58400) with resistances of $2000 (Rs 60400) and $2025 (Rs 61000).

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Gold making a base around $1950

Daily Report

As a result of the disappointing economic data, the gold market has experienced a strong rebound off of support just above $1950. The probability of a rate pause was 35% a week ago, 75% on Friday, and 77% today, according to the CME’s FedWatch.

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