Gold Price Prediction: Gold price falls by Rs 3,000/10 gram. More downside ahead?
After Iran and Israel officially announced a ceasefire, Gold August futures contracts at MCX slipped by Rs 3,000 or nearly 3% to hit their low of Rs 96,422/10 grams in early trade, while the silver July futures contracts also fell by Rs 760 or 0.6% to their day’s low of Rs 1,06,011/kg. However, on Monday,
Gold Price Forecast: Profit Booking May Continue Unless Trade War Updates Surface- Should Buy Or Sell?
Markets now look to comments from Fed officials for policy cues. Unless President Trump or Chinese officials release any updates on the trade war, this profit booking may persist. As gold reacts to changing global fundamentals, investors need to be watchful of such important signals as US economic indicators, interest rate directions, and geopolitical uncertainties.