Gold Price Prediction: A Week of Critical Decisions

After reaching record highs, gold prices have experienced a slight downturn. Investors are now keenly watching global cues to strategize their next moves in the gold market.

Global Cues Influencing Gold Prices

Recent developments, including eased trade tensions between the U.S. and China and mixed U.S. economic signals, have shifted investor interest towards the dollar and bonds, pressuring gold prices. Geopolitical strategies and economic data from the U.S. have also played a significant role in the current market dynamics.

Strategy for Gold Investors

View sideways to higher. Sell, for target of Rs 90,500-90,000; Resistance: Rs 93,500-94,000. The focus this week shifts to Services PMI data from major economies and the Fed policy meeting, where Governor Powell's statements will be crucial for market direction.

Disclaimer: Recommendations and views on the stock market and other asset classes given by experts are their own. These opinions do not represent the views of The Times of India.