Domestic ROUND FIRM Axis security It was noted that gold prices showed signs of stress between the Macro transfer keys, with concerns that flowed into a critical band of supporting a critical band.
Brokerage Firdi promoted the expectations of the additional US Federal Reserve cutting rate is cooled, impacted the need for Safely safety assets like gold. In addition, fear-related fears related to the war, lead to the reaps of bonds, which further moves the appeal of gold.
To offer gold with no harvest, the increase in interest rates less attractive as an investment asset, further further.
According to the securities of the axis, gold is currently testing the lower band of a 50-day displacement of the envelope (+ 3%), successfully supported all dips since November 2024.
They identified a key timeframe from May 16 to May 20 as crucial for a potential trend reversal. The report also pinpointed $ 3,136 as a critical support level in the international markets, with a break below this point potentially opening the doors for further declines toward the $ 2,875- $ 2,950 range.meanwhile, Renisha chainani, shared similar concerns, stating that Gold prices have been under considerable pressure, driven by a combination of geopolitical tensions and weakening demands.Sa, he noticed, “Gold prices opened about $ 100 (RS 1,500 to payments in the affirmation of inspends
Chainani also emphasized potential buying opportunities to emerge between pressure pressure.
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“As gold prices broke double-top neckline support of $ 3200, more expected $ 3000-50 – 88,000 – 88,000 – 88,000 – 88,000
Technical views for gold also pointed to the vital risk of decline. According to the report from Augmont, Indian The level of gold support Standing at Rs 92,000 / 10 GM, while resistance level is at Rs 94,000 / 10 gm. This indicates a narrow trading range, but in the wider market sentiments leaning downside, additional inserts cannot be executed.
Gold Outlook ahead
Prhithviraj Kothari, the management of director of riddisiddhi bullyon, expressing more optimistic views, that long terms of gold remain uninterrupted.
“While Gold’s Long-Term Fundamentals are fundamentally intact, a short-term view of its price trajectory remains vulnerable to macroeconomic sea-changes. Investors still need to be especially attentive with a diversified strategy in the event of the event of the event of a daily downside tail, ‘he said.
Kothari also warns a potential correction to correct if global economies start to recover in a faster step than expected.
“However, a steep correction can also be on the horizon. If the global economies begin to see the quick believes, which make the end of risk trades, gold can enter the $ 3000- $ 3050 range.
Adding to this optimistic sentiment, Prathamesh Mallya, DVP- Research, Non-Agri Commodities and Currencies and Angel One Stated That Easing Geo-Political Tensions Between India-Pakistan, Russia-Ukraine Between US-China, Shifting Inflation Expectations in the US, Are A Combination of factors driving gold prices correction in the recent week.
However, he noticed that the new correction of gold prices gives investors a path to buy at the lower level.
“Our advice to investors is to accumulate dipbuts around 90,000 / 10gm marks. The upward potential for Gol.97000 / 10 Gyle prices,” Muryna added.
The current scenario gives a complex sight for investors of gold, with a lot of Analysts indicate reduced risks, but also highlight potential buying opportunities for long-term investment investments.
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(Matan -re: Recommendations, suggestions, views and opinions given to experts themselves. This does not represent views of economic times)
