Gold: Aug.
Gold prices are trading with a cut of 0.50% currently. Counter has immediate
support between 31000—30950 zones from hereon. Failure to sustain below 30950
levels will trigger a pullback rally towards 31215/31280 levels by close today.
Momentum above 31300 levels will push prices higher towards 31550 areas.
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
|
31400
|
31300
|
31100
|
31000
|
SIDEWAYS
|
Silver: Silver prices have bounced after testing its immediate
support around 47000 levels today. Intraday view though will stay negative
until prices trade below 47633 levels.
Sustenance below 46950 will open
downside targets of 46775/46563 levels for Silver. A daily close above 47633
will trigger a retest of 48240—48450 zones.
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
|
46500
|
46000
|
45700
|
SIDEWAYS
|
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