Gold, Coin and Dollar Price Forecast for Wednesday, October 14 | Will Dollar and Gold Prices Return to an Upward Trend?

After prices fell over the past three days, some short-term traders have moved to pull their capital out of the gold and currency markets, while others are looking for a good opportunity to buy near price floors. Even so, it is worth knowing which scenario asset prices are likely to follow today.

Economic Group - Mehdi Safai: The gold and foreign exchange market is facing two possible paths in Wednesday's transactions; Stabilizing prices and returning demand could provide the basis for renewed growth, but continued selling pressure also keeps alive the possibility of a further pullback. In the meantime, the support ranges of the dollar and 18 carat gold, as well as the behavior of the coin bubble, are very important to determine the direction of the market movement.

dollars; Trying to return to the channel is 260 thousand tomans

The trend of the dollar in today's transactions will depend more than anything on the balance between supply and demand. If the buyers are active in the current ranges, there is a possibility of the rate moving towards higher resistances; But an increase in supply or a decrease in expectations of growth can prevent continued growth.

The range of 258 thousand tomans can be considered as the support area of the dollar. Maintaining this range can help stabilize the rate, while losing it increases the likelihood of a move to lower levels. On the opposite side, crossing the range of 265 thousand tomans can be a sign of strengthening demand.

In general, the possible range of dollar fluctuations in Wednesday's trading is estimated at 252 to 263 thousand tomans; However, changing market conditions can affect this forecast.

18 karat gold; Support of 25 million and 500 thousand tomans under the supervision of the market

18-karat gold still depends on two main variables, i.e. the domestic dollar rate and the world price of an ounce, to determine its path. The simultaneous growth of these two factors can provide the basis for an increase in the price of gold; But if the ounce drops or the dollar weakens, there is a possibility that the correction will continue in the domestic market.

In Wednesday's trading, the range of 25 million and 500 thousand tomans can be considered as a support zone for gold. Maintaining this range strengthens the possibility of the price returning to higher levels; However, the failure of the mentioned support can provide the basis for further decline.

In the increasing scenario, crossing the range of 26 million Tomans can be a sign of increasing power of buyers. It is estimated that 18 carat gold will fluctuate between 25 million and 300 thousand to 26 million and 100 thousand tomans in today's transactions.

Imami coin; The bubble, the determining factor of fluctuations

The behavior of the Imami coin is not only affected by the price of the dollar and domestic gold, and the amount of its bubble can also change the range of fluctuations. If the demand for the coin increases, it is possible for the price to move towards higher resistances; But reduced demand could prevent the coin from keeping pace with any potential gold growth.

The range of 260 million Tomans as a sensitive area of the coin that can be investigated, exchange from this level requires an increase in demand, and if the selling pressure continues, the possibility of returning to the lower support ranges will still be raised.

The possible fluctuation range of Emami coin in Wednesday trading is estimated at 252 to 265 million tomans.

summary; The future direction of the market depends on maintaining the support

All in all, the gold and foreign exchange market is still associated with uncertainty, and the continued growth or continuation of the correction cannot be considered certain. Maintaining support ranges can help stabilize prices and restore demand; Conversely, breaking these levels increases the likelihood of a further pullback. The global ounce trend, exchange rate changes and the amount of demand in the coin market are among the most important factors that can determine the direction of Wednesday's transactions.

In such a situation, professional investors carefully monitor the conditions so that if the prices are reasonable, they will buy at the reliable floors. However, the rise or fall of prices currently depends more than anything on political news.