Gold and silver prices followed Friday's breakdown with further notable losses this morning off dollar strength.
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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