Gold prices today struggled for direction today after a sharp gain in the previous session. On Free MCX Tips, gold was flat at ₹46961 per 10 gram while silver dipped to ₹63,160 per kg.
Neal Bhai
Silver Market Longer-Term Bullish Bias Maintained | Neal Bhai
Silver Market Longer-Term Bullish: “Silver saw complete rejection from the 200-day ma and sold off aggressively towards the long-term pivotal support at $21.87/17. It is considered to be a major band of support. Given that the market has spiked down to this area and recovered we will for now maintain our longer-term bullish bias.”
Gold Prices Blast or Not: Generates RSI Buy Signal
The gold prices appears to be unfazed by the stickiness in the US Consumer Price Index (CPI) as the headline reading holds steady at 5.4% for the second month, and it seems as though bullion will move to the beat of its own drum ahead of the Kansas City Fed Economic Symposium scheduled for August 26 – 28 as it reverses course ahead of the March low ($1677).
GOLD SPOT BUY TARGET $1830——$1920 (Positional Call)
Spot Gold retargets $1,700 on renewed USD strength: After moving sideways near $1,730 during the first half of the day on Tuesday, the gold pair came under bearish pressure and was last seen losing 0.6% on the day at $1,717.
Gold and Silver Bloodbath to Continue? | Gold Silver Reports
Gold and silver miners: Grim price action in the metals, and more be yet to come (looking at overnight price action, in all likehood we‘re done with shakeouts) – gold and silver usually do better once the waiting for taper is over.