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Gold prices are well supported, but lower highs and lower lows indicate a potential pullback – ForexLive’s Low
- With gold’s rebound extending to its fourth consecutive session on Tuesday prices are proving to be well supported above $2,000 per ounce, but a significant correction could be in the cards before the precious metal makes new highs, according to Justin Low, currency analyst at ForexLive. - Although the gold market is holding critical support above $2,000 an ounce, it lacks any significant bullish momentum; however, one U.S. bank still sees substantial potential for the precious metal.
- Rising gold prices are boosting the growth rate of India’s jewelry consumption, which could be as much as 50% higher than the initial projections for 2024, according to ICRA Limited, a Moody’s affiliated investment information and credit rating agency.Crypto funds see record inflows as institutions clamor for access to BTC ETFs
Digital asset investment products saw a record $2.45 billion in inflows last week as institutional FOMO for Bitcoin starts to rise, with U.S.-listed ETFs driving demand. - Gold and silver continue to defy the odds as the precious metals hold critical support even as inflation fears prompted hedge funds to liquidate their bullish positionings and increase their speculative bets, according to the latest trade data from the Commodity Futures Trading Commission.
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