Trump slaps 30% tariffs on EU, Mexico
MCX - Market open Gap UP today also in Gold and
Continue 2 SL in MCX GOLD in 2 days
Spot gold surged to a new all-time high of around $3499.92 per ounce, fueled by escalating US-China trade tensions and a declining US dollar.
Meanwhile, US June gold futures climbed to approximately $3509.06 per ounce during morning Asian trading hours.
In India, the MCX market opened with a strong gap up, pushing domestic gold prices to a record high of ₹99358 per 10 grams during the morning session.
The sharp drop in the U.S. Dollar Index to its lowest level in three years further boosted gold’s attractiveness among global investors.
MCX - Intraday and weekly trading Strategy for Gold June Futures
Gold hit a fresh all-time high today.
Swing Intraday Call:
Look to sell Gold June Futures in the 99350-99450 range.
Set a stop loss at 99790
Watch for the following downside targets in the coming hours:
Target (NYSE:TGT) 1: 98000
Target 2: 97000
Target 3: 96000
Gold has started pulling back — wait for Target 1 to be tested soon as the market shows signs of a sharp decline.