Gold Prices are expected to trade sideways with a support level seen at $1,910 an ounce for the precious metal in the week ahead.
Analysts believe that the yellow metal’s future moves will largely depend on how rapidly the US Federal Reserve pursues further rate hikes, or whether it errs on the side of caution.
Gold prices closed at $1,921.49 per ounce on the weekend. In the UAE, the Dubai Gold and Jewellery Group data showed 24K trading at Dh232.75 per gram, 22K at Dh218.75, 21K at Dh208.75 and 18K at Dh178.75.
Naeem Aslam, chief market analyst at Ava Trade, said for bulls to be fully confident about the gold price, they need to see two things: firstly, that the price needs to stay above the $1,900-price mark, and secondly, it needs to break above the $2,000 price level.Source: