Spot Gold Bearish traders are likely to aim towards testing the $1440 support area. Gold maintained its bid tone through the mid-European session on Wednesday and for now, seems to have snapped four consecutive days of losing streak.
Spot Gold
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Gold Spot If Close Below $1480 Sell MCX Gold Again 100–500 Lots – Neal Bhai Reports
Gold Spot If Close Below $1480 Sell MCX Gold Again 100–500 Lots – Neal Bhai Reports
News that the U.S. and China agreed to work toward a fresh round of trade talks next month provided a boost to the U.S. and global stock markets, and a stronger-than-expected private-sector employment data also helped to ease worries about a slowdown in the economy, damaging the metal’s haven appeal.
Spot Gold Kiss New 2 week Lows Below $1500 Level – Gold Silver Reports
![Gold Price Intraday Technical Forecast By Neal Bhai [08-06-2022]](https://goldsilverreports.com/wp-content/uploads/2018/12/gold-silver-shop-neal-bhai-reports.jpg)
Spot Gold resumed the decline, falling again below $1,500/oz. Price bottomed at $1,497 the fresh two-week low. It bounced back to the upside and as of writing is hovering around $1,500 down for the day but off lows. On the flip side, under the daily, the next support emerges at $1,492.
Precious Metals: Near Term Correction Due
Precious Metals – ABN AMRO’s Senior precious metals strategist, Georgette Boele, notes that gold prices have gained 17% this year and argues that gold prices have risen too sharply in a short period and are likely to make a correction in the coming months.
Spot Gold Break $1480, Bears can Target a Deep Retracement back to the $1440 — $1408
Spot Gold Updates : The absence of further escalation, on a break back below the $1480, bears can target a deep retracement back to the $1440—$1408.