Comex Gold prices surged past $2,735 per ounce, hitting a record high as safe-haven demand grew and is on track for a weekly gain of over 2%.This rally in Bullions is largely driven by expectations of further interest rate cuts by major central banks, with the European Central Bank lowering its deposit rate to 3.25%—its third cut this year—indicating that inflation control is progressing. Heightened tensions in the Middle East also boosted gold, after Israel confirmed the death of Yahya Sinwar, a key Hamas leader, sparking fears of wider regional conflict. Meanwhile, investors turned to gold as a safer asset amid disappointing fiscal policies from China, aimed at addressing its ongoing property crisis, and concerns over the US presidential election’s potential impact on global markets.
MCX GOLD Gann Angle Chart
Gold is trading well above its 3×4 gann angle and made a fresh all time high Heading towards 79057 till holding 76797.
MCX GOLD Supply Demand Zone
MCX GOLD Supply Demand Chart : Demand in range of 76400-76467, Supply in range of 77841-78000.
MCX GOLD Harmonic Analysis
Gold is heading towards 79507 till holding above 76797.
GOLD Astro/Gann Trend Change Date
22 October Important Gann/Astro Date for Trend Change
Weekly Trend Change Level:78004
Weekly Resistance:78280,78557,78834,79108
Weekly Support: 77727,77450,77173,76896
Levels Mentioned are for Current Month Future
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