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Gold demand in India remained tepid this week despite a recent correction in prices, as buyers postponed purchases in the absence of any major festivals, while premiums in top consumer China slid on weak consumer sentiment and elevated spot prices. “Retail buying is not picking up. Buyers are hoping prices will fall further and are delaying purchases,” a ...
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Main scenario: consider short positions from corrections below the level of 2388.89 with a target of 2218.46 – 2161.56. Alternative scenario: breakout and consolidation above the level of 2388.89 will allow the pair to continue rising to the levels of 2500.00 – 2560.00 Analysis: the fifth wave of larger degree (5) is forming on the daily chart, with wave 3 ...