Gold prices fell and was on the way to its first weekly decline in three weeks on Friday, as fading chances of a U.S. stimulus agreement before the Nov. 3 presidential election dented the metal’s appeal as an inflation hedge.
Gold prices had coiled into a falling wedge pattern but a failed break has muddied the outlook (2020)
Gold prices looked primed for a topside break out last week as it coiled into a falling wedge formation. The pattern was marked by a descending trendline to the topside, derived from the August high, and a trendline on the lower end around the $1,850 mark.
Hedge funds cut bullish bets on U.S. crude as demand outlook worsens
Crude as demand outlook – Hedge funds and money managers cut bullish wagers on U.S. crude, data showed on Friday, as rising coronavirus cases around the world weakened the demand outlook, and a rise in OPEC output last month also weighed on the market.
Gold Spot Above $1870, Short Term Up Side Target $1907—$1918 – Neal Bhai
![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 "Gold Spot Above $1870, Short Term Up Side Target $1907—$1918 - Neal Bhai 3")
Gold Spot Above $1870, Short Term Up Side Target $1907—$1918 – Neal Bhai
SELL MUTHOOTFIN 1190 TARGET 1170-1140 SL PAID
SELL MUTHOOTFIN FUTURE 1190 TARGET 1170-1140 SL PAID
“The interaction was purely in the nature of information sharing, and the Company and its officials have extended full cooperation to the authorities,” the company said in response to news agency PTI report.