28 October 2016

BULLION OUTLLOK FOR 28-29 OCT 2016

BUY GOLD DEC @ 29800 SL 29600 TGT 29900-30050.MCX

Gold:  Gold trading range for the day is 29624-29974. Gold prices slipped as the dollar strengthened on growing speculation that the U.S. Federal Reserve would hike interest rates in December. Recent positive economic data and comments from central bank officials have bolstered expectations of a rate hike. Hedge funds and money managers cut their net long positions in COMEX gold for the third straight week in the week to Oct. 18.

Outlook: MCX Gold price are trading in a consolidation range at 29800 levels on hourly chart. On the other hand, prices have been trading below 21 HEMA on hourly chart. In addition, COMEX Gold price has shown breakdown above its horizontal trend line support at $1265 levels. Moreover, Momentum Indicator RSI is trading below 50 levels on hourly time frame. For now we expect prices should move lower towards 29450 levels in the coming trading sessions.

           
R2
R1
S1
S2
TREND
GOLD
30000
29900
29700
29600
SIDEWAYS

27 October 2016

BULLION OUTLOOK FOR 27-28 OCT 2016

BUY GOLD DEC @ 29740 SL 29600 TGT 29880-30000. MCX

BUY SILVER DEC @ 41850 SL 41500 TGT 42150-42400. MCX

Gold: Gold trading range for the day is 29681-30077. Gold prices inched down as the U.S. dollar steadied, but underlying demand for bullion was seen as robust ahead of major festivals in India. Bank of England Governor Mark Carney cast doubt on expectations for more monetary stimulus. SPDR gold trust holdings dropped by 1.49% i.e. 14.24 tonnes to 942.59 tonnes from 956.83 tonnes.
Outlook: Technically now Gold is getting support at 29758 and below same could see a test of 29681 level, And resistance is now likely to be seen at 29956, a move above could see prices testing 30077.
           
R2
R1
S1
S2
TREND
GOLD
30000
29950
29700
29600
SIDEWAYS
Silver:  Silver trading range for the day is 41730-42762. Silver dropped as investor appetite for riskier assets such as equities, denting demand for bullion, often considered a safe haven. Data released by the U.S. Department of Commerce showed that new home sales rose 3.1 percent to an annual rate of 593,000. The U.S. central bank’s next meeting is in November, but a rate hike ahead of the presidential election is seen as unlikely
Outlook:  Technically market is under fresh selling as market has witnessed gain in open interest by 3.66% to settled at 16321, now Silver is getting support at 41923 and below same could see a test of 41730 level, And resistance is now likely to be seen at 42439, a move above could see prices testing 42762.
           
R2
R1
S1
S2
TREND
SILVER
42600
42400
42000
41800
SIDEWAYS

26 October 2016

BULLION OUTLOOK FOR 26-27 OCT 2016

yesterday’s CALL UPDATE:
gold HIT TGT 29880 MADE HIGH OF 30000!!!

BUY GOLD DEC @ 29850 SL 29700 TGT 30000-30100.

BUY SILVER DEC @ 42250 SL 42000 TGT 42560-42750.

Gold:  Gold trading range for the day is 29645-30131. Gold gained as the U.S. dollar retreated from multi-month highs and physical demand rose before India's late-October festival season. SPDR gold trust holdings gained by 0.34% i.e. 3.27 tonnes to 956.83 tonnes from 953.56 tonnes.
Outlook: Technically market is under short covering as market has witnessed drop in open interest by -1.25% to settled at 7927 while prices up 179 rupee, now Gold is getting support at 29794 and below same could see a test of 29645 level, And resistance is now likely to be seen at 30037, a move above could see prices testing 30131
           
R2
R1
S1
S2
TREND
GOLD
30120
30000
29900
29700
SIDEWAYS
Silver:  Silver trading range for the day is 42034-42648. Silver rose buoyed by rising physical demand with investors cautious of a sentiment shift as the Fed nears a widely expected rate hike at the end of the year. U.S. home prices rose 5.1 percent in the year to August as home buyers competed for fewer properties, helped by low mortgage interest rates. The gain comes after money managers cut their net-long position in silver futures and options for a third week to the lowest in more than six months.
Outlook:  Technically now Silver is getting support at 42224 and below same could see a test of 42034 level, And resistance is now likely to be seen at 42531, a move above could see prices testing 42648.
           
R2
R1
S1
S2
TREND
SILVER
42800
42600
42300
42000
SIDEWAYS

25 October 2016

BULLION OUTLOOK FOR 25-26 OCT 2016

BUY GOLD DEC @ 29750 SL 29600 TGT 29880-30050.MCX

Gold:  Gold trading range for the day is 29624-29974. Gold prices slipped as the dollar strengthened on growing speculation that the U.S. Federal Reserve would hike interest rates in December. Recent positive economic data and comments from central bank officials have bolstered expectations of a rate hike. Hedge funds and money managers cut their net long positions in COMEX gold for the third straight week in the week to Oct. 18.
Outlook: MCX Gold price are trading in a consolidation range at 29800 levels on hourly chart. On the other hand, prices have been trading below 21 HEMA on hourly chart. In addition, COMEX Gold price has shown breakdown above its horizontal trend line support at $1265 levels. Moreover, Momentum Indicator RSI is trading below 50 levels on hourly time frame. For now we expect prices should move lower towards 29450 levels in the coming trading sessions.
           
R2
R1
S1
S2
TREND
GOLD
30000
29900
29700
29600
SIDEWAYS
Silver:  Silver trading range for the day is 41547-42825. Silver prices gains tracking base metals prices despite gold dropped amid stronger dollar and rising expectations of a Fed rate hike. Fed only needs to nudge up interest rates despite being close to its targets, Bullard says. San Francisco Fed President John Williams said that "this year would be good" for a rate hike. BUY SILVER DEC ABV 42100 SL 41900 TGT 42340-42560.MCX
Outlook:  On hourly chart, MCX Silver prices are trading in rectangle pattern formation at 42000 levels. On the other hand, COMEX Silver prices are trading near its trend line support on hourly time. In addition, MCX Silver are hovering near its 21 HEMA on hourly time frame. Moreover, Momentum indicator RSI is trading in oversold zone on hourly basis. For now we expect prices to move higher towards 42650 levels in few trading sessions.
           
R2
R1
S1
S2
TREND
SILVER
42600
42400
42000
41800
SIDEWAYS

24 October 2016

BULLION OUTLOOK FOR 24-25 OCT 2016

SELL GOLD DEC @ 30000 SL 30150 TGT 29880-29750.

SELL SILVER DEC @ 42200 SL 42550 TGT 41820-41640.

Gold:  Gold trading range for the day is 29745-30075. Gold prices settled flat as a strong dollar limited gains, but prices notched its first weekly rise in four as seasonal demand from Asia kicked in. Demand from Asia, including China, India and exchange-traded funds (ETF), has helped prop up prices. Dealers in India were charging a premium of up to $2 an ounce over official domestic prices in the week.
Outlook: Dec. Gold prices couldn’t sustain at its intraday highs at 30063 levels yesterday. The counter will witness intraday bounce towards 29980/30000 areas. Sustenance above 30000 levels will trigger a retest of 30063 levels. Support for the counter is seen between 29800— 29750 zones. Weakness below 29750 will push prices lower towards 29565/29460 levels again.
           
R2
R1
S1
S2
TREND
GOLD
30000
29900
29600
29500
SIDEWAYS
Silver:  Dec. Silver prices will witness a bounce into resistance between 42080—42150 areas until support at 41800 levels hold. Weakness below this support will push prices lower towards 41560 levels. Prices needs to breakout above 42150 levels again to recover towards 42390/42477 levels again.
Outlook:  Silver trading range for the day is 41695-42199. Silver prices ended with small gains as rising demand was offset by a strong dollar. Prices were hurt in recent weeks by the strength of the dollar, which has been helped by a slew of data indicating an improvement in economy. Holdings at ishares silver trust gained by 0.89% i.e. 100.36 tonnes to 11395.28 tonnes from 11294.92 tonnes
           
R2
R1
S1
S2
TREND
SILVER
42350
42200
42000
41800
SIDEWAYS

21 October 2016

WEEKLY BULLION OUTLOOK FOR 21-28 OCT 2016

YESTERDAYS CALL UPDATE

GOLD HIT TGT 30020 MADE HIGH OF 30060 !!!
SILVER HIT TGT 42350 MADE HIGH OF 42390!!!

SELL GOLD DEC @ 29950 SL 30100 TGT 29820-29700.

SELL SILVER DEC @ 42100 SL 42450 TGT 41720-41540.

Gold:  Gold trading range for the day is 29769-30133. Gold eased slightly as dollar rose and ECB left interest rates unchanged, maintaining the parameters of its 1.74 trillion euro asset buying scheme. Fed’s Dudley said the U.S. central bank will likely raise interest rates later this year if the economy remains on its current trajectory. India's gold imports in the first nine months of 2016 are estimated to have slumped 59 percent from a year ago to 268.9 tonnes.
Outlook: Technically market is under short covering as market has witnessed drop in open interest by -1.6% to settled at 7642, now Gold is getting support at 29839 and below same could see a test of 29769 level, And resistance is now likely to be seen at 30021, a move above could see prices testing 30133.
           
R2
R1
S1
S2
TREND
GOLD
30000
29900
29800
29700
SIDEWAYS
Silver:  Silver trading range for the day is 41499-42641. Silver prices fell with a stronger dollar and the rising chances of rate hike weighing on the hedge commodity. The ECB left interest rates across the euro zone unchanged at record lows of zero and kept the deposit facility rate at -0.4%. Initial jobless claims in the U.S. rose by more than expected in the week ended October 15th, according to a report
Outlook: Technically market is under fresh selling as market has witnessed gain in open interest by 3.63% to settled at 17146, now Silver is getting support at 41748 and below same could see a test of 41499 level, And resistance is now likely to be seen at 42319, a move above could see prices testing 42641.
           
R2
R1
S1
S2
TREND
SILVER
42200
42000
41700
41500
SIDEWAYS