Post
kamleshhborana1
Commodity Central
US Gold Index is respecting the previous support as the resistance now, and in the short-term, we can expect a fall of at least 50 points more.
The major contributors being :
1. Higher Interest Rates.
2. Inflation pressure easing
3. Investors shifting from Commodities to Fixed Income Assets as a hedge.
In the short term, since the asset is showing an oversold zone on the RSI, there can be some buying but the trend remains bearish.
Sep 28 7:57 PM
MCX:GOLD 05OCT2022 price when posted: 49,656