Thursday, October 15, 2026

Technicals

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Gold prices set to advance further, decline to be limited-Go long around 1240 with targets 1262/ 1280,SL 1226

The yellow surged higher on Thursday as dollar eased and equity market retreated, increasing demand for yellow metal as alternative asset. Gold is likely to advance further as the demand for the yellow metal is set to in…

By Karin Verspoor
1 min read
EconoTimes — Reading the Times. Understanding the Future.

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  • The yellow surged higher on Thursday as dollar eased and equity market retreated, increasing demand for yellow metal as alternative asset.

  • Gold is likely to advance further as the demand for the yellow metal is set to increase further in the coming days.

  • Currently the commodity is approaching to test support level at 1254.

  • To the upside, the strong resistance can be seen 1262, a break above this level would expose the commodity towards 1272 levels.

  • To the downside immediate support can be seen at 1254, a break below at this level will open the door towards 1244 levels.

    Recommendation: Go long around 1240 with targets 1262/ 1280,SL 1226

    Support levels: S1-1254, S2-1244, S3-1226

    Resistance levels: R1-1262, R2-1272, R3-1282

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