Gold prices have steadily crossed the $2,170 mark after considerable deliberation and skepticism. The yellow metal market is projecting a prospering stance as gold futures have also risen, signaling a bullish streak. 

The last few weeks were particularly harsh for gold, as the metal was earlier struggling to breach $2,000. The resistance encountered by gold had the market analysts worried for a long time, floating in ideas that the traders may have pivoted towards other lucrative assets, leaving gold to bite the dust. 

Also Read: Gold & Cryptocurrency Surges Threaten the US Dollar’s Global Dominance

Why Are Gold Prices Rising?

With the CPI data scheduled to be unveiled later today, the prices of gold have already started to spark curiosity. Per an update via Wu Blockchain, the platform shared that the CPI data is set to be revealed on March 12th, which has already started to impact the prices of gold on speculation. 

After Bitcoin reaches its all-time high, there are still a large number of events that will cause price fluctuations in March, including CPI data, ETH Dencun upgrade, NVIDA conference, FOMC, SEC VS RIPPLE, etc. pic.twitter.com/hpRY2teU6u

— Wu Blockchain (@WuBlockchain) March 6, 2024

As a result, gold ETFs have noted a considerable spike. The SPDR Gold Shares ETF gained 4.5% over the last week. The iShares Gold Trust ETF has gained 4.6%.

The primary reason why gold prices are gaining market momentum is the looming fair of CPI data and rate cuts that may push the dollar into a corner. Investor sentiment seems bearish for dollars considering the ongoing economic meltdowns and geopolitical tensions.It seems organic for stable inflation resistance assets to gain momentum ahead of the CPI data reveal. 

In the midst of all this, gold price analysts and market experts have shared their opinions on why gold has been rising as of late. 

Also Read: Gold Attracts ‘Strong Buy’ Call: Forecast Suggests Price To Hit $2,700

“We expect gold prices to trade higher this year as safe-haven demand continues to be supportive amid geopolitical uncertainty with ongoing wars and the upcoming US election.” Warren Peterson, head of community and strategy at ING, told Benzinga

Another expert, Bill Baruch, president of commodities brokerage firm Blue Line Futures, has also shared his opinion on gold prices. 

“Although gold has been in a bull trend since 2019, silver, copper, and others have struggled. The tide is shifting. Be ready.”

Vancouver, British Columbia–(Newsfile Corp. – March 12, 2024) – Northstar Gold Corp. (CSE: NSG) (OTC Pink: NSGCF) (“Northstar” or the “Company“), announces results from recently completed LiDAR and MMI (Mobile Metal Ion) soil surveys at the Company’s 100%-owned, 1,150 hectare Rosegrove Property (Figure 1), situated immediately northwest of Northstar’s Miller Copper-Gold Property and 13 kilometres south of the town of Kirkland Lake, Ontario.

The primary objective of the Rosegrove LiDAR and MMI surveys was to substantiate exploration potential for gold and critical mineral deposits in areas with favorable geology and sparse outcrop, particularly along the Pacaud Fault Zone and northwest strike extensions of the Boston Creek Copper Trend.

A 2021 property-wide UAV magnetic survey (Northstar News Release dated July 29, 2021) and the recent Rosegrove LiDAR and MMI surveys have delineated multiple coincidental magnetic, structural and soil geochemical gold anomalies (up to 17 times background) associated with the regional first-order Pacaud Fault Zone, and two distinct copper trends and zinc anomalies (up to 122 times background) in Pacaud Assemblage metavolcanics. Pacaud Assemblage rocks host the volcanogenic massive sulphide (VMS) horizons recently confirmed by Northstar’s Cam Copper Mine drill program (Northstar News Release dated November 23, 2023) on the adjacent Miller Copper-Gold Property. (Figure 1)

The Rosegrove LiDAR and MMI surveys were partially funded by a recently awarded Ontario Junior Exploration Program (OJEP) critical minerals exploration grant of $80,532.50 from the Ontario Ministry of Mines. Grant proceeds cover up to 50% of Northstar’s eligible, 2023-2024 critical minerals exploration expenditures at the Rosegrove Property. (Northstar News Release dated December 18, 2023).

“Early-stage mineral exploration and target definition in highly prospective, drift covered areas is a lengthy process that requires a methodical, integrated approach utilizing proven techniques that include MMI, UAV magnetics and LiDAR surveys. Northstar is pleased with the number and magnitude of coincidental anomalies that clearly support the premise for gold and/or critical minerals deposit(s) occurring at Rosegrove,” states George Pollock, Northstar’s VP of Exploration. “Northstar plans to ground truth these new exploration targets this coming summer by geological mapping, prospecting, sampling and trenching.”

MMI Soil Survey Results – Highly Anomalous Responses Showing Gold and VMS Potential

The Rosegrove MMI soil survey has identified 4 significant gold anomalies (Figure 2 – Areas A, B, C, D) associated with the regional Pacaud Fault Zone. Anomalies with a “response ratio” up to 17 times background have been identified proximal to the fault zone, often associated with parallel or splay structures within the larger deformation corridor. Several other elements known to correlate closely with gold in the Kirkland Lake camp and the Miller Copper-Gold Property, including Mo, Pb and Bi, also produced isolated but highly anomalous response ratios of 217, 49 and 16 respectively, proximal to the Pacaud Fault Zone. This suggests the northwest striking deformation corridor represents a conduit for gold-bearing hydrothermal fluids with possible deposition of gold into second order structures or alkaline intrusive centres.

Several critical minerals anomalies (Figure 3 – Areas A, B and E) have also been identified by the MMI survey associated with the Pacaud Fault Zone and Pacaud Assemblage metavolcanics in the south portion of the Rosegrove Property. Copper anomalies correspond with two distinct trends with a northern northwest striking trend (Areas B and E) correlating with the northeastern flank of the Pacaud Fault Zone, including one coincidental gold anomaly (Area B – Figures 2 and 3). A southern copper trend correlates strongly with zinc which produced a response ratio 122 times above background in the southern part of the Rosegrove Property (Figure 3 and 4 – Area A).

Anomalous Fe and Ti response ratios, indicative of magnetite mineralization proximal to Area A Cu and Zn anomalies may represent footwall stringer type mineralization, similar to that observed at the nearby Cam Copper Mine. Area A sample D00434803 produced highly anomalous responses in Au, Ag, Cu and Zn, indicating potential for gold-rich VMS mineralization. These results are strongly suggestive that volcanogenic exhalite horizons with possible polymetallic VMS lenses are present in the south portion of the survey grid, within or along the contact with Pacaud assemblage metavolcanics. This rock assemblage hosts the former producing Boston Creek Copper Trend – Amity, Patterson and Cam Copper mines, 3.5 kilometres south of the Rosegrove Property.

Figure 1. Rosegrove / Miller Copper-Gold Property Geology and 2023 MMI Soil Sampling Area

To view an enhanced version of this graphic, please visit:

https://images.newsfilecorp.com/files/6839/201332_93469b77b416fa17_002full.jpg

MMI soil sampling was completed on the Rosegrove property from September 25 to November 3, 2023 and conducted at 200 metre station spacing covering a 636-hectare area. A total of 207 samples were collected and shipped to SGS Canada Inc. (“SGS”) in Burnaby, BC for trace and major elements (Mobile Metal ION standard package) by ICP-MS following element extraction using a weak organic and inorganic solution. Response ratios >10 times background are considered strongly anomalous.

Figure 2. Map Showing Rosegrove Property Gridded MMI Response Ratio for Au with Anomalous Areas A, B, C and D



To view an enhanced version of this graphic, please visit:

https://images.newsfilecorp.com/files/6839/201332_93469b77b416fa17_003full.jpg

Figure 3. Map Showing Rosegrove Property Gridded MMI Response Ratio for Cu with Anomalous Areas A and E

To view an enhanced version of this graphic, please visit:

https://images.newsfilecorp.com/files/6839/201332_93469b77b416fa17_004full.jpg

Figure 4. Map Showing Rosegrove Property Gridded MMI Response Ratio for Zn with Anomalous Area A



To view an enhanced version of this graphic, please visit:

https://images.newsfilecorp.com/files/6839/201332_93469b77b416fa17_005full.jpg

Rosegrove LiDAR Survey

In the fall of 2023 Northstar commissioned KBM Resources Group to acquire property-wide LiDAR and high-resolution orthophoto imagery over the entire Rosegrove Property. The survey successfully traced the regional Pacaud Fault Zone and splay structures (2nd order structures) that potentially host gold or gold-telluride mineralization like the Miller Copper-Gold Property. Several prominent N-S and ENE trending structures were also identified in the southern and western areas of the Property where bedrock was not obscured by a floodplain (Figure 5). The LiDAR and orthophoto imagery survey was flown using a Piper Seneca Twin Engine aircraft with the Riegl VQ780I LiDAR system. Due to a lack of ground control points, the absolute vertical accuracy was not assessed. Survey parameters are listed are listed below in Table 1.

Table 1. Technical Parameters for LiDAR and High-Resolution Orthophoto Imagery Survey

Lidar	System	Riegl VQ-780I
	Laser pulse repetition frequency (PRF)	1649 kHz
	Laser scan frequency	300 Hz
	Flight height	1174 m above ground level
	Maximum scan angle	±30° from nadir (60° field of view)
	Pulse density (average per swath)	106.36/m2; last only 49.69 points/m2
	Absolute accuracy – vertical	not assessed
	Relative accuracy – vertical	19 cm
	Average pulse density	20 pulses/m2
Camera	Camera	Phase One IXM-100F
	Lens focal length	50 mm
	Average ground sample distance	10 cm
	Along track overlap	60%
	Side overlap	25%

Figure 5. LiDAR Hillshade and Related Observations for the Rosegrove Property

To view an enhanced version of this graphic, please visit:

https://images.newsfilecorp.com/files/6839/201332_93469b77b416fa17_006full.jpg

Follow Up Plans

Northstar plans to ground truth anomalous MMI, LiDAR and earlier 2021 UAV magnetic survey features (Northstar News Release dated July 29, 2021) in 2024, in addition to zones where syenite intrusions are known to outcrop or possibly reflect observed overlaying magnetic features. Detailed bedrock sampling and infill MMI soil sampling around highly anomalous sample locations proximal to the Pacaud Fault Zone, syenite intrusions and potential extension of VMS horizons to the west of the current survey grid is planned for the spring and summer of 2024.

MMI Quality Control

A quality control procedure was implemented to ensure best practice in the sampling and analysis of the MMI samples. This procedure includes cleaning extraction tools (shovel, plastic scoop and hands) at every new sample site and including duplicates and replicates into the sample stream. During the MMI sampling program, 194 samples were collected and 13 samples were control samples for a total of 207 samples submitted for analyses. All samples were shipped to the SGS Canada Inc. (“SGS”) in Burnaby, BC, for analysis and analyzed for trace and major elements (Mobile Metal ION standard package) by ICP-MS following element extraction using a weak organic and inorganic solution.

Data Analysis Procedure and Interpretation

MMI is a high-resolution soil geochemistry technique which aims to:

• Detach adsorbed ions from the exterior of soil particles;

• Leave the substrate relatively undissolved;

• Provide better signal to noise (background) ratio;

• Better spatial resolution.

MMI is a partial extraction technique and therefore the absolute values are less than those obtained by strong acid extraction and do not represent an assay of the sample. Analysis and interpretation of the MMI data was conducted using the procedures outlined in SGS Minerals (2005) “Processing and presenting MMI geochemical data.” Technical Bulletin 23. To eliminate biases in the data (dissolution variable during extraction and sampling in different regolith units) a response ratio was calculated. Each select element was normalized to the predetermined background value to calculate the response ratio. The background value for individual elements was determined by calculating the lowest quartile of the data for all samples analysed. Once the lowest quartile is determined, the average of the samples with a value equal to or less than the lowest quartile is averaged to obtain the background value. The response ratio is determined by dividing the value for each sample by the background value. A response ratio lower than 2 is considered background, a response ratio between 5-10 is considered significant depending on the regolith/landform and sample spacing. Response ratios >10 times background are considered strongly anomalous.

All scientific and technical information contained in this News Release has been prepared under the supervision of Brian P. Fowler, P.Geo. President, CEO and Director of Northstar Gold Corp., a Qualified Person within the meaning of National Instrument 43-101.

About Northstar Gold Corp.

Northstar’s primary exploration focus is to advance and expand our near-surface, bulk-tonnage gold-telluride and more recently discovered VMS copper mineral deposits on the Company’s flagship, 100%-owned Miller Copper-Gold Property, situated 18 km southeast of Kirkland Lake, Ontario. The Company’s strategy is to develop a material (+1M ounce gold / high-grade copper) mineral resource base to either supplement a nearby mining operation or support a stand-alone mining operation at the Property.

Allied Gold Zone

Since going public by IPO in late 2020, Northstar has spent over $5.6 million in exploration at Miller, resulting in the discovery of a series of broad, near-surface, shallow dipping sheeted quartz-gold-telluride vein structures in the Allied Syenite (Allied Gold Zone) and Planet Syenites and numerous 70 – 750 gold gram/metre drill hole intercepts. Drilling to date at the AGZ has returned near-surface gold intercepts that include 6.6 g/t Au over 117.0 metres, 4.0 g/t Au over 50.6 metres, 1.4 g/t Au over 118.5 metres, and 1.2 g/t Au over 107.3 metres. Step out AGZ drilling in 2021 intersected peripheral steeply dipping copper-gold bearing structures (CG1 and CG2 Zones) returning intercepts that include 9.41 g/t Au, 1.03% Cu over 3.0m. The AGZ shares numerous compelling similarities to Agnico Eagle’s nearby Upper Beaver Deposit, currently in the pre-development stage.

In April, 2022, as a precursor to a Mineral Resource Estimate and for reporting purposes, the Company commissioned Ronacher Mackenzie Geoscience and SRK Consulting (Canada) to conduct an Exploration Target Study of the Miller Property Allied Gold Zone and No. 1 Vein. An upper range exceeding 500,000 ounces of gold averaging 2.04 g/t Au has been referenced in this study. Reported results (Northstar News Release dated July 26, 2022) verify the significance, size and gold grade potential of the Allied gold mineralizing system. Results provide the Company and investors a fact-based conceptual tonnage and gold grade range for the Allied Syenite Gold Zone, and basis for continued expansion drilling and mineral resource development.

Cam Copper Mine

On November 23rd, 2023 Northstar announced results from a 720 metre, 4-hole diamond drill program completed on the historic high-grade Cam Copper Mine, located 2.5 kilometres southwest of the Allied Gold Zone and also on Northstar’s 100%-owned Miller Property. The Company reported all drill holes intersected lenses of Cu-rich volcanogenic massive sulphides, including massive and stringer chalcopyrite in drill hole CC03-23 grading 14.8% Cu over 2.45m from 116.55m to 119m in Zone 2 (See Northstar News Release dated November 23, 2023). These results suggest Zone 2 is thickening in a southeast and down-plunge direction. Zones 1, 3 and 4 also remain open along strike and at depth.

Cam Copper is a road accessible shaft mine and small-scale, past producer of high-grade ‘direct shipping’ copper ore centred on the historic Boston Creek Copper Trend.

Cam Copper Mine is centred on a newly recognized high-grade “Besshi-type” volcanogenic massive sulphide (VMS) copper system situated at the northwest end of a 0.9 km long southeast trending belt of VMS horizons. Besshi-type VMS deposits are an important global source of base metals, simplistically characterized as vented, broad sheet-like layers of magnetite, iron-copper-lead-zinc-arsenic sulphides, cobalt, sulphosalts, silver and possibly gold deposited on an ancient sea floor, hosted in volcano-sedimentary rock packages.

Northstar is positioned to conduct down-hole and grid-scale EM geophysical surveys at Cam Copper Mine to define Phase II drill targets in late Q1, early Q2, 2024.

Northstar is seeking a senior partner to conduct Allied Gold Zone lateral and depth expansion diamond drilling on the Miller Property.

Northstar’s 3 additional 100%-owned exploration projects in northern Ontario, include the recently acquired 1,150 ha Rosegrove Property situated 0.5 km from the Miller Property, the 4,650 ha Bryce Gold Property (includes the recently optioned Britcanna Lease), an intrusive-gold / PME VMS project located along the projected east extension of the Ridout Break, and the recently expanded Temagami-Milestone Cu-Ni-Co Critical Minerals Property located in Strathcona Township. Northstar is seeking exploration partners to advance all 3 properties.

On behalf of the Board of Directors,

Mr. Brian P. Fowler, P.Geo.

President, CEO and Director

(604) 617-8191

bfowler@northstargoldcorp.com

Connect with us on Twitter | LinkedIn | Instagram

Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

Cautionary Note Regarding Forward-Looking Statements

This news release contains certain forward looking statements which involve known and unknown risks, delays, and uncertainties not under the control of Northstar Gold Corp. which may cause actual results, performance or achievements of Northstar Gold Corp. to be materially different from the results, performance or expectation implied by these forward looking statements. By their nature, forward looking statements involve risk and uncertainties because they relate to events and depend on factors that will or may occur in the future. Actual results may vary depending upon exploration activities, industry production, commodity demand and pricing, currency exchange rates, and, but not limited to, general economic factors.

Forward-looking statements in this news release are made as of the date hereof and the Company assumes no obligation to update any forward-looking statements, except as required by applicable laws.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/201332

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The price of gold today, as of 9:08am, was £1,703.69 per ounce. That’s up 0.02% on yesterday’s closing price of £1,703.39.

Compared to last week, the price of gold is up 3.52%, and it’s up 5.69% from one month ago.

The 52-week gold price high is £1,694.60, while the 52-week gold price low is £1,581.70.

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Gold Prices Today

Gold Price Over Time

How to invest in gold

Many investors consider gold to be the ultimate safe-haven asset, relying on the theory that when the prices of shares, bonds and property drop sharply, gold may hold its value – and its price can even increase as nervous investors rush in to buy.

Investing in gold is also a way to add diversification to your investment portfolio. When you hold a diversified mix of different assets, including gold, varying returns can protect the value of your investments.

There are several ways to invest in gold. Each has pros and cons…

One option is to buy gold in physical form:

• Gold bars. Known as bullion, gold bars tend to be a popular choice for buying gold. Bullion is typically sold by gram or ounce. Purity, manufacturer and weight should be stamped on the face of the bar.
• Gold coins. The Sovereign and Britannia are popular collectables that command a premium over what you would get for the same amount of gold in the form of bullion.
• Gold jewellery. Like gold coins, you’ll probably be paying extra for gold when you buy it in the form of jewellery – a premium that could be anywhere from 20% to 300%, depending on the manufacturer.

Alternatively, investors can invest in gold indirectly:

• Gold shares. Buying the stocks of gold mining or processing companies is another way to invest in the yellow metal. You don’t get to own physical gold, but you do get exposure to the rise and fall of the price of gold in the market.
• Gold funds. There are a range of funds that provide exposure to gold. They may invest in gold stocks, or they may trade gold derivatives in the options and futures markets.

Should you invest in gold?

You should consider investing in gold if you’re looking to hedge against risk or diversify your portfolio. Gold would probably not be your first choice to earn long-term capital growth.

Over the past five years, the price of gold has appreciated approximately 36% while the total return of the S&P 500 has been 60%.

Gold prices can be extremely volatile, and that means that gold isn’t an entirely stable investment. In fact, you can easily craft a well-diversified investment portfolio entirely without gold.

It should also be noted that gold in its physical form, unlike other investments, does not produce an income or yield.

If you buy physical gold, you also need to consider where you are going to keep it, and whether there will be costs associated with secure storage.

Is gold an inflation hedge?

Studies have found that gold may be an effective way to defend your wealth against inflation, but only over extremely long periods of time, measured in decades or even centuries.

Over shorter time periods, the inflation-adjusted price of gold fluctuates dramatically, typically making it a poor near-term hedge for inflation.

Gold prices opened on the Multi Commodity Exchange (MCX) on Tuesday at Rs 65,932 per 10 grams and hit an intraday low of Rs 65,932. In the international market, prices hovered around $2,179.08 per troy ounce.

Meanwhile, silver opened at Rs 74,459 per kg and hit an intraday low of Rs 74,459 on the MCX. The price hovered around $24.44 per troy ounce in the international market.

Manav Modi, Analyst, Commodity and Currency, MOFSL, “Gold prices steadied just below record highs, with focus turning largely to upcoming US inflation data for more cues on when the Federal Reserve will begin cutting interest rates.”

Expectations of rate cuts saw bullion prices rise sharply to record highs last week on the back of weak economic data from the US, rate cut expectations, a fall in the dollar index and US Yields and an increase in speculative net long positions.

“Hawkish comments from Fed officials, however, have capped the gains on the higher side. Middling labour market data, which indicated some cooling in US employment, also aided bullion prices,” said Modi.

“US non-farm payroll data was reported at 275,000 against expectations of 195,000; however, this was offset by an increase in the unemployment rate, which was reported at 3.9% against the previous data of 3.7%. US inflation will be closely watched this week, especially after Powell and a string of Fed officials signalled that anxiety over sticky inflation was the central bank’s biggest consideration in lower interest rates,” said Modi.

The reading is expected to show some cooling inflation through February, although inflation is still expected to remain well above the Fed’s 2% annual target.

Also read:  Gold and silver prices today: Yellow metal remains at record high as dollar falls

Also read:  I want to sell my house and buy two other residential properties. The capital gain on it will be around Rs 3 crore. Will I have to pay any tax?

Also read: What 5 things should one keep in mind to make tax-efficient investments?

Deveya Gaglani, Research Analyst—Commodities, Axis Securities, said, “Gold prices posted their best weekly gain of 4% last week as the probability of a rate cut increased in June. Due to geopolitical tension, Gold gained traction because of its safe-haven nature. Prices reached a record high of Rs 66,300 in the domestic market.”

“Investors will focus on CPI data, which is due in the evening. If inflation data comes hotter than expected, gold prices may correct down by 2-3%. However, the outlook remains positive as long as the 64500 level is intact on the downside,” said Gaglani.

Ravindra Rao, Head Commodity Research, Kotak Securities, said, “COMEX Gold prices rose for the eighth consecutive day as signs of a slowdown in the US economy raised the odds of a Fed pivot this year, weighing down on dollar index and treasury yields. According to Bloomberg forecasts, US CPI is expected to rise 0.4% m/m (3.1% y/y) in February, while core CPI is expected to rise 0.3% m/m (3.7% y/y). If the ongoing disinflationary trend continues, that might add to rate cut bets and boost gold prices.”

© IE Online Media Services Pvt Ltd

first published: March 12, 2024, 09:22 IST

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Gold traders and investors are acutely aware of the dynamic impact that tomorrow’s CPI report will have on multiple financial sectors, including gold prices. Gold futures basis, the most active April contract traded to a higher low, and a lower high than Friday. Although gold is trading fractionally higher than Friday’s close, today’s trading range and the open and closing prices have formed a Japanese candlestick called a “doji” which means “the same thing” in Japanese.

A doji (dо̄ji) is the name given to a trading session (on a daily chart) in which the opening and closing levels are virtually equal. This is represented by a candlestick on a chart that looks like a plus sign, although it can contain longer or shorter wicks to either side or both. Based on this shape, market technicians make assumptions about price behavior. A doji generally signals either a trend reversal indication for analysts, but it can also signal indecision (consolidation) about future prices.

The key takeaway from this kind of Japanese candlestick is that neither the bullish nor bearish faction was able to gain control, which would create a green candlestick (when the close is above the opening price), or a red candle (when the session’s closing price falls below its opening price). The larger the candlestick, the more the controlling faction was able to move pricing in their desired direction,  that’s why little to no body size indicate neither side was successful.

The chart above is a daily chart of gold futures. Today April gold opened at $2187.60, and as of 5:23 PM ET is currently fixed at $2188.60 which means that the price differential between the opening price and the current fixed price is only one dollar. To the Japanese trader, the open, and closing relationship is a much more important factor than the Western trader assumes. To the Western trader, the most important relationship is between the closing price of the prior session and the current closing price, which is why gold is noted as trading up $3.10, because it is comparing the current close to Friday’s close.

This is the first time that gold has not traded to a higher high in the prior seven trading sessions. It indicates that neither the bullish nor bearish faction controlled the outcome of today’s trading session, and suggests that gold prices may either pivot or consolidate. The direction will largely be dependent on the outcome of tomorrow’s CPI report.

The dollar traded fractionally higher today, up +0.16% taking the dollar index to 102.85. The chart above is a daily Japanese candlestick chart of the dollar index, it shows that Friday’s trading range created a “doji” candlestick which had its wick fall below the 50% retracement which occurs at 102.59. However, the real body (the rectangle drawn between the open and closing price) was small when compared to the upper and lower wicks. Also, the last three days created a candlestick pattern called a “Three River Morning Star”.

The fact that the dollar formed a “doji” on Friday and that today’s session in gold created a “doji” candlestick could potentially signal a pivot in both gold and the dollar. If so, this would predict that the dollar index could move higher, and gold prices could move lower.

For those who wish to learn more about our service, please go to the links below:

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Wishing you as always good trading,

Gary S. Wagner

Ahmedabad: Continuing its rally for the ninth consecutive session, the gold price climbed to Rs 67,800 per 10g in the Ahmedabad market on Monday. The price increased marginally compared to Rs 67,700 per 10g on Saturday’s closing in the local markets. The precious metal prices have been touching new record highs by the day. In the international markets, spot gold was trading at $2,176.75 per ounce around 6.45pm, as reported by the World Gold Council. Gold prices continued their upward trend, inching towards $2,182 per ounce. This price surge can be attributed to various macroeconomic factors and geopolitical tensions, which have heightened the demand for gold as a safe-haven asset. Silver price remained consistent at Rs 74,000 per kg. tnn

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