Gold, Coin and Dollar Price Forecast for Thursday, Mehr 23 | Will Dollar and Gold Reach Previous Highs?

Yesterday's trading saw rising demand in the gold and currency markets. This increase could continue the long-term upward trend. In a pessimistic scenario, some believe yesterday's price growth was an exit opportunity and the market is about to activate its support floors.

Economic Group - Mehdi Safai: The gold market starts trading today in a situation where, on the one hand, the domestic exchange rate continues to affect the price of 18 carat gold, and on the other hand, the drop in the global ounce can be an obstacle to the continued growth of prices. In such a situation, it is important to maintain the price support to continue the upward trend, and the loss of these levels can provide the basis for a short-term correction.

After the increase of political risks in Iran and the possibility of the resumption of military tension in the Middle East, the dollar rose in price last day. If this trend continues, precautionary demand in the market will rise and price ceilings will be the most likely scenario.

Today, the probability of the dollar price fluctuating between 258,000 tomans and 267,000 tomans is greater than any other interval. Of course, the publication of good political and economic news can decrease to a level lower than 258 thousand tomans.

18 karat gold; Important support in the range of 25 million and 800 thousand tomans

18 karat gold has been affected by exchange rate changes and global market fluctuations in recent transactions. While a rising dollar could support the domestic market, a decline in global ounces may offset some of the upward pressure. Therefore, the path of gold today will depend on the outcome of these two factors and the amount of domestic demand.

In the downward scenario, the range of 25,800,000 to 26,000,000 tomans can be considered as a support area. Maintaining this range strengthens the possibility of price stabilization and the return of buyers; But its failure could pave the way for a retreat to lower levels.

On the other hand, if the demand in the domestic market strengthens and the price crosses the range of 26 million 500 thousand tomans, it will be possible to move towards higher resistances. Based on this, the possible fluctuation range of 18-karat gold in today's transactions is estimated at 25,700,000 to 26,600,000 tomans.

Imami coin; In the spotlight of the market

In addition to the changes in the dollar and domestic gold rates, the Emami coin is also affected by the fluctuations of the price bubble in Thursday trading. If the demand in the coin market strengthens, it is possible for the price to move towards higher resistances; But the decrease in demand can cause the coin to face sales pressure even in case of relative stability of 18 carat gold. In this situation, the range of 260 to 263 million Tomans can be considered as a support area and the range of 270 to 273 million Tomans as possible resistance.

Considering the dependence of the coin on the exchange rate and the price of domestic gold, the high stabilization of the aforementioned resistance can be a sign of strengthening demand; Conversely, a loss of support could provide the basis for a further price pullback. Based on this, the possible fluctuation range of Imami coin in Thursday transactions is estimated at 264 to 275 million Tomans. This range is not definitive and changes in the dollar, global ounce and coin bubble can change the price direction.