Analysis
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Gold Pullback Before New Uptrend – Gold Silver Reports
The Gold triangle chart pattern is respecting the shallow Fibonacci re-tracement levels of wave 4 vs 3 which is typical behavior for a wave 4 (blue) pattern.
Union Budget 2019 India : Duty Hike May See Gold Smuggling Rise
![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 Silver Reports (GSR) – The 2.5% hike in customs duty on gold and precious metals proposed by Nirmala Sitharaman may see a rise in smuggling and illegal sale of the yellow metal. Traders last week had rued that the quantity of smuggled gold sold in the black market was rising due to skyrocketing prices.
Gold Prices Today Fell Sharply in India – Gold Silver Reports
Gold Silver Reports (GSR) – Gold prices today fell sharply in India, mirroring a big decline in global prices. On MCX, gold futures for August delivery fell below the ₹34,000 per 10 gram, when they declined 1.2% to ₹33,810. The October gold contracts on MCX also fell sharply but managed to hold on to ₹34,000 level.
Gold Technical Analysis Unless Breaking $1,403 Support Turned Resistance – Neal Bhai
The long road to have a trade deal with the US, statements like Mexico and China can be partners against US pressure are likely showing Chinese media’s lack of appreciation to the recent trade truce.
Gold Pani Pani – 40,000—38,000 ke Sapne Mat Dekho – Phele Niche Fir Upar Aayega – Abhi Toh Party Shuru Hui Hai
Gold Pani Pani – 40,000—38,000 ke Sapne Mat Dekho – Phele Niche Fir Upar Aayega – Abhi Toh Party Shuru Hui Hai
Gold Prices May see Mild-Correction soon – Gold Silver Reports
Use the Mild Correction
While the fundamentals are still intact, experts feel that there may be a mild correction in gold prices after the recent spurt. Gold has seen five weeks of continuous gains and therefore, events like the upcoming US Federal Reserve meeting, G-20 meeting, etc can trigger a correction.