Gold: Gold:
Aug. Gold prices have moved higher to hit an intraday high of 31550 levels.
Failure to sustain above 31550 levels though will trigger a correction towards
31350/31300 areas. The pullback will advance further if prices break out
decisively above 31550. 31690/31725 levels will be the upside targets for the
counter in that case.
Outlook: We expect gold prices to trade negative
on the back of US non-farm payroll data released on Friday.
R2
|
R1
|
S1
|
S2
|
TREND
|
||
GOLD
|
31500
|
31400
|
31250
|
31150
|
SIDEWAYS
|
Silver: Silver: Silver prices have moved higher after a gap-up
opening. If prices sustain
above 47000 levels then the counter will advance further towards 47700/48155 levels. Traders can buy into intraday dips until prices trade above 46940 levels. Sustenance below this level will see prices slip towards 46625/46480 levels.
above 47000 levels then the counter will advance further towards 47700/48155 levels. Traders can buy into intraday dips until prices trade above 46940 levels. Sustenance below this level will see prices slip towards 46625/46480 levels.
Outlook: We
expect Silver prices to trade negative on the back of US non-farm payroll data
released on Friday.
R2
|
R1
|
S1
|
S2
|
TREND
|
||
SILVER
|
46900
|
46600
|
46300
|
46200
|
SIDEWAYS
|
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