AIRLINK 73.00 Decreased By ▼ -1.10 (-1.48%)
BOP 5.05 Increased By ▲ 0.05 (1%)
CNERGY 4.34 No Change ▼ 0.00 (0%)
DFML 29.95 Increased By ▲ 0.41 (1.39%)
DGKC 84.40 Increased By ▲ 0.85 (1.02%)
FCCL 22.59 Increased By ▲ 0.16 (0.71%)
FFBL 34.20 Decreased By ▼ -0.70 (-2.01%)
FFL 10.25 Increased By ▲ 0.38 (3.85%)
GGL 10.33 Increased By ▲ 0.33 (3.3%)
HBL 112.21 Increased By ▲ 0.21 (0.19%)
HUBC 140.35 Increased By ▲ 2.66 (1.93%)
HUMNL 8.03 Increased By ▲ 1.05 (15.04%)
KEL 4.33 Decreased By ▼ -0.07 (-1.59%)
KOSM 4.60 Increased By ▲ 0.01 (0.22%)
MLCF 38.75 Increased By ▲ 0.20 (0.52%)
OGDC 135.20 Decreased By ▼ -1.40 (-1.02%)
PAEL 26.55 Increased By ▲ 1.41 (5.61%)
PIAA 26.30 Decreased By ▼ -0.21 (-0.79%)
PIBTL 6.62 Decreased By ▼ -0.03 (-0.45%)
PPL 122.40 Decreased By ▼ -3.00 (-2.39%)
PRL 28.20 Decreased By ▼ -0.01 (-0.04%)
PTC 13.89 Decreased By ▼ -0.41 (-2.87%)
SEARL 54.99 Increased By ▲ 0.39 (0.71%)
SNGP 70.30 Decreased By ▼ -0.90 (-1.26%)
SSGC 10.50 No Change ▼ 0.00 (0%)
TELE 8.66 Increased By ▲ 0.14 (1.64%)
TPLP 11.11 Increased By ▲ 0.17 (1.55%)
TRG 61.00 Increased By ▲ 0.30 (0.49%)
UNITY 25.26 Decreased By ▼ -0.07 (-0.28%)
WTL 1.28 Increased By ▲ 0.02 (1.59%)
BR100 7,661 Decreased By -4.2 (-0.05%)
BR30 25,062 Increased By 36.3 (0.15%)
KSE100 73,050 Increased By 286.2 (0.39%)
KSE30 23,747 Decreased By -28.8 (-0.12%)
Markets

Spot gold remains neutral in $1,802-$1,822 range

  • This could be a pause before a deep fall or an accumulation of bullish momentum
Published August 4, 2021

SINGAPORE: Spot gold remains neutral in a range of $1,802-$1,822 per ounce, and an escape could suggest a direction.

A break below $1,802 could cause a fall to the July 23 low of $1,789.98, while a break above $1,822 could lead to a gain into $1,832-$1,853 range.

Regardless of the following direction, the metal may approach $1,822 first, as it managed to stabilize in the support zone of $1,802-$1,810.

On the daily chart, gold remained above a support at $1,806. This could be a pause before a deep fall or an accumulation of bullish momentum.

Gold prices slightly changed

A break below the support could cause a fall to $1,784 while a break above $1,841 could confirm the continuation of the wave c towards the $1,869-$1,897 range.

Each reader should consult his or her own professional or other advisers for business, financial or legal advice regarding the products mentioned in the analyses.

Comments

Comments are closed.