Page 35 - Bullion world volume 4 issue 6 june 2024
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Bullion World | Volume 4 | Issue 6 | June 2024
Gleaming Futures: Technical Outlook for
Gold, Silver, and Platinum
Mr Prathik Tambre, Bullion Analyst, Bullion World
As we navigate through a volatile financial
landscape, the technical outlook for
precious metals—gold, silver, and
platinum—presents a compelling narrative
for investors. Let's delve into the nuanced
projections for each of these metals based
on current market analysis.
Gold: Poised for a Potential Breakout
Gold has always been a safe haven for investors, and its
current technical setup indicates significant movements
ahead. The first key support level to watch is $2275,
where a substantial amount of buying interest has been
observed. This level acts as a crucial floor, and any price
action around this zone could set the stage for future
movements.
On the upside, gold could rally to the $2500-$2550
range, but this scenario hinges on the metal's ability
to breach and sustain above $2450. A recent liquidity
grab at $2430 suggests that a correction is imminent. Mr Prathik Tambre
The market will likely see further downward pressure as
buy-side liquidity is taken out around the $2270 level,
prompting cautious observation of price reactions at this
critical juncture.
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