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XAUUSD (Gold Spot) & MCX Gold Will Skyrocket?

  • XAUUSD Could Jump To $1858 - $1898 Before July End
  • MCX Gold Could Hit 49000 Soon
free gold spot (xauusd) daily chart & signals

In June, XAUUSD and MCX Gold crash due to FOMC events. It has recovered almost 60% to 70% loss in the July month.

You can read the previous articles of Gold Spot and MCX Gold to catch the next move.
June 27, 2021Outlook: Gold downtrend stopped at 46720

I have written, “It’s not sellable until following the above scenario. We can see the gold prices at 48000 – 49000+ in the upcoming days”.
And MCX Gold has completed the first target in the last week.

June 21, 2021Will Gold Spot Decline More?

free gold spot (xauusd) daily chart & signals

Weekly outlook of Gold Spot

Gold spot needs to break 1809 levels to retest support of 1793.6 – 1783.6. These support levels will push the gold price higher. Gold isn’t sellable until the breakout of 1766 (strong support).

XAUUSD will touch 1858 – 1898 levels soon.

free commodity gold daily chart tips

Weekly Outlook of Indian MCX Gold

This week gold may remain downside until it breaks the levels of 48520. It can be up to 47580 – 47200. But, once it crossover the 48520 levels, then it will become unstoppable again. And we will see 49000 – 49500+ levels soon.

Watch significant releases or events that may affect the movement of gold, silver, crude oil, and natural gas:

Wednesday, Jul 21, 2021
02:00 API Weekly Crude Oil Stock – Medium Impact
20:00 Crude Oil Inventories – High Impact
20:00 Cushing Crude Oil Inventories – Medium Impact

Thursday, Jul 22, 2021
20:00 Natural Gas Storage – Low Impact

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