Therefore, both markets damaged their charts and are likely to set back to consolidation support at recent lows of $1,950 in August gold and at $23.00 in July silver.

 

On the one hand, Chinese trade desks are suggesting buyers there are waiting on the premium and/or flat prices to cheapen before becoming buyers, but that should be offset by a move by the Indian government to reduce the gold import price basis for taxation...[MORE]

 

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