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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Union Budget 2022 expectations: Market hopes cut in gold import duty to 4%

Gold Prices Jump Today But Silver Rates Drop

In global markets, gold prices today edged higher supported by a softer dollar and weakness in the equities market. Overnight, the US Federal Reserve hiked interest rates by 25 basis points, as widely expected, but what took markets by surprise was the US central bank’s commitment to retain the core of its plan to tighten monetary policy, despite rising uncertainty about global economic growth. Spot gold prices rose 0.5% to $1,249.46 per ounce.

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