Gold Prices

Gold Prices Down Below Rs. 34000 On Weak Global Cues — GSR

Gold Silver Sentiment remained bearish on the back of a weak trend overseas as the dollar strengthened to a 10-week high against the yen, boosted by better-than-expected US gross domestic data for the fourth quarter, making bullion less attractive as a safe-haven investment, traders were quoted as saying in the PTI report. Gold prices had fallen by Rs. 570 in the previous two days.

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Gold @ Two Week High on Trade Deal Hopes

Gold Silver Reports (GSR) – Spot gold had gained 0.1 percent to $1,322.41 per ounce as of 0747 GMT. The metal touched $1,325.30 earlier, just below a 9-month peak of $1,326.30 an ounce marked on Jan. 31.

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The easing in the US-China trade war has put pressure on the price of gold denominated in US dollars.

MCX Gold Strong Support @32900 – Neal Bhai

Gold Silver Reports (GSR) – Gold fell pressured by a stronger dollar, but worries over slowing global economic growth and the spectre of another U.S. government shutdown kept the safe-haven metal above the key $1,300 level.

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Gold Price Intraday Technical Forecast By Neal Bhai [08-06-2022]

Gold Hovers Around $1300 Bulls Have Momentum

Gold Silver Reports (GSR) – European and Asian stock markets were mostly weaker overnight. U.S. stock indexes are pointed toward lower openings when the New York day session begins. There is some risk aversion in the marketplace to start the trading week, which is also benefitting the safe-haven gold and silver markets.

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MCX Gold Resistance Level 31833, Sell On Rise – Neal Bhai

Gold Silver Reports (GSR ) – Gold Prices remain positive as the ongoing US government shutdown drags on risk appetite, and the uncertainty surrounding fiscal Policy may ultimately push the FOMC to endorse a wait-and-see approach at the next interest rate decision on January 30.

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