MCX Gold Looks Like Descending Hawk Pattern, We See Big Move Here 500—800 Point
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Gold Silver Reports (GSR) – In global markets, gold prices remained steady today after Thursday’s fall. Gold was little changed at $1,417.96 an ounce. In India, on MCX gold futures for August delivery fell 0,02% to ₹34,209. Investors remained cautious ahead of today’s US jobs data for indications on rate cuts from the US Federal Reserve’s July meeting, analysts said.
Gold Silver Reports (GSR) – The need to have a diversified foreign currency and asset reserve will keep the Reserve Bank gold deposits glittering, opined economists and industry watchers.
Gold Silver Reports –Gold prices on Thursday declined by Rs. 405 to Rs. 32,385 per 10 grams on reduced buying by local jewellers, reported news agency Press Trust of India (PTI) quoting the All India Sarafa Association.
Gold fell to its lowest since end-December on Thursday as indications that the global economy might not be as pain-stricken as previously feared prompted investors to take risks ahead of a slew of economic data.
Gold edged higher on Friday as weak economic data from the euro zone exacerbated fears of a global slowdown, weighing on risk sentiment and putting bullion on track for its best week in nearly two months.
Gold MCX dropped as the dollar regained some ground and uncertainty over Brexit eased, but downside seen after tepid U.S. inflation data.