“Gold Correction Awaited” in India, US Monetary Policy “Gives No
“Gold Correction Awaited” in India, US Monetary Policy “Gives No Reason to Change Bullish View on Gold”
London Gold Market Report
THE SPOT gold price hovered above $1660 per ounce Wednesday morning in London, slightly up on the week so far, before dropping through that level ahead of US trading.
“[Gold] continues to consolidate last week’s down move from $1694 to $1627,” says the latest technical analysis from bullion bank Scotiabank.
“Our bias remains lower with $1627 our next line in the sand.”
Gold buying in India meantime slowed Wednesday, dealers report.
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