COMMODITY (B-TRAMS):
Spot gold prices forecast might drop into a scope of $1,884 to $1,897 per ounce, as a wave c from $1,809.27 may have finished. The splitting of this wave c into five smaller waves is the most convincing sign that the process is finished.
The Fifth Wave is unlikely to extend above $1,938 because wave 3 has extended so much. When gold breaks $1,905, the strategic target range of $1,883 to $1,897 will be established.
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If the price breaks above $1,925, it could move into the $1,938-$1,951 range. The large spinning top that formed on Wednesday on the daily chart indicates that the market is hesitant.
The $1,917 support level for spot gold may be retested.
While gold prices forecast in Pakistan as per Sarafah Bazar Association is as under the link below
