WEEKLY BULLION OUTLOOK FOR 28 NOV 02 DEC 2016

yesterday’s CALL UPDATE:

GOLD HIT all TGT 28650 MADE HIGH OF 28386 !!!

silver HIT all TGT 39850 MADE HIGH OF 39860!!!

SELL GOLD DEC @ 28800 SL 29000 TGT 28620-28500.

SELL SILVER DEC @ 40600 SL 40850 TGT 40280-39850.

Gold:  Gold trading range for the day is 28562-28882. Gold fell as the dollar strengthened on growing expectations of Fed rate hike in December following positive U.S. economic data. Fed policymakers appeared confident that the economy was strengthening enough to warrant interest rate increases soon. New orders for U.S. manufactured capital goods rebounded in October, driven by rising demand for machinery and a range of other equipment

Outlook: Technically market is under long liquidation as market has witnessed drop in open interest by -1.65% to settled at 5370, now Gold is getting support at 28654 and below same could see a test of 28562 level, And resistance is now likely to be seen at 28814, a move above could see prices testing 28882.

	R2	R1	S1		S2	TREND
GOLD	29100	29000	28500		28400	SIDEWAYS

Silver: Silver trading range for the day is 39921-40621. Silver prices eased as the dollar traded within reach of an almost 14-year high hit on positive U.S. economic data. The minutes from the Fed’s meeting said an interest-rate increase was possible “relatively soon” if data indicated that the economy is improving. Some Fed officials explicitly called for a rate hike in December, the minutes showed.

Outlook:  Technically now Silver is getting support at 40117 and below same could see a test of 39921 level, And resistance is now likely to be seen at 40467, a move above could see prices testing 40621.

	R2	R1	S1		S2	TREND
SILVER	41200	41000	40500		39900	SIDEWAYS