Weekly Commodity Report 13 June2016 to 17 June 2016

Weekly Support & Resistance for Gold & Silver

Resistance: 30200-30500
Pivot: 29600
Support: 29100-28800

Gold: Last week MCX Gold Aug bounce from lows after early rate hike possibility fade by Fed chair as US nonfarm payroll data not show improvement. Weekly price range was 29176-30000.  Our stance of buying above 29150 works in our favor. In next week gold trades above 29600 then prices will rise up to 30200-30500

Silver : Silver also rose with gold and trade in the range of 38715 -41200.Silver trades above 40500 and close above can rise up to 41500-41700.