Last week gold price melted below 1100$ as we expected we already indicated you that gold looking weak and we even gave a positional sell call at 1130$ on our twitter , gold closed at 1107$ a good support this week in gold price comes at 1075$ once market break this and close below this level then expect major correction upto 1049$ – 1020$
Fed interest rate cut will have major impact on gold prices this week so one need to wait for fed interest rate decision before taking any major position in gold a major trade should be taken only after fed interest rate decision is out but one need to watch a major resistance in gold at 1131$ once gold price break this and close above this level then expect gold to fire upto 1165$ – 1199$ this week
Gold this week forecast conclusion : Gold trend is weak only but major Fed interest rate decision and fed commentary will decide further movement so wait till fed decision and then you may take any trade in gold
More will update in daily gold price update