26 April 2016


RESISTANCES : 30200/30122/29960/29840
RESISTANCES : 42500/43050/41760/41300
SUPPORTS : 29140/29050/28960/28710
SUPPORTS : 39850/39150 /38500/37950
BUY ABOVE 29450, TGT 29600/750, SL 29280
BUY ABOVE 40400, TGT 40700/40900, SL 40000
SELL BELOW 29290, TGT 29050/28930, SL 29400
SELL BELOW 39850, TGT 39500/100,SL 40350
Silver : Silver rose to an 11-month top last week and was trading below that level on Monday. Outlook : We expect silver prices to trade negative on the back of profit booking after sharp up-move in prices.
Gold : Gold ticked higher on Monday as the dollar gave back some of its recent gains, but caution ahead of the Federal Reserve policy meeting later this week curbed its advance. The Fed is not expected to raise interest rates at this week's meeting but markets will be looking for the U.S. central bank's take on global economy and its monetary policy outlook. Fed Chair Janet Yellen said
last month the central bank should proceed only cautiously as it looks to raise rates, following its first rate hike in nearly a decade in December. Higher rates could dent demand for noninterest-paying gold. The dollar rose to a three-week high against the yen on Friday after a report said the Bank of Japan is considering to expand its negative rate policy to bank loans. But it fell back slightly on Monday, with the dollar index down 0.2 percent.
Outlook: We expect gold prices to trade negative on the back of strength in US dollar

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