Gold Analysis covers:
Traders cautious to make big bets ahead of key US inflation data
COMEX Gold prices trades in a tight range before crucial US economic data and commentary from Federal Reserve speakers that could offer clues on the outlook for interest rates. Markets have already dialed back expectations for early and rapid Fed easing as hotter-than-expected data inflation and
on jobs data shifted bets on a first cut to June or July. Also, This ETFs cut gold holdings for the 12th straight day on Monday.
Exchange-traded funds cut 153,120 troy ounces of gold from their holdings in the last trading session, bringing this year’s net sales to 3.04 million ounces, according to data compiled by Bloomberg.
👉Will Gold Go up or down today? Gold Prediction Today with Technical Analysis
Updated for 27 February 2024
MCX Gold Price Today (5 MAR 2024 Future) Rs. 62149
Major Trend: Bullish.
Gold Price Projection for Today:
Now Based on technical analysis of gold price movements, today e.g. on 27 February, Tuesday, the MCX Gold Price is expected to show Weak openings.
Accordingly, for Tuesday, keeping stoploss of Rs. 62309, you may go short with target of Rs.62019
Very short-Term Trade Angle:
Target 1 Rs. 62019 on higher side
Target 2 Rs. 61889 on higher side
Stoploss Rs. 62309 on lower side.