yeterday’s call update:
gold hit tgt 31050 made high of 31100
silver hit tgt 46380 made high of 46690
BUY GOLD OCT @ 30900 SL 30650 TGT 31050-31200.
BUY
SILVER DEC @ 45950 SL 45650 TGT 46380-46850.
Gold: Gold trading range for the day is
30776-31124. Gold steadied ahead of a two-day U.S. Federal Reserve meeting that
investors are betting will leave interest rates unchanged. Investors will
listen closely to Fed Chair Janet Yellen's speech for any hint that the central
bank could raise rates before the end of the year. SPDR gold trust holdings
dropped by 0.41% i.e. 3.86 tonnes to 938.75 tonnes from 942.61 tonnes. Technically
market is getting support at 30850 and below same could see a test of 30776
level, And resistance is now likely to be seen at 31024, a move above could see
prices testing 31124.
Outlook: We
expect gold prices to trade positive .
R2
|
R1
|
S1
|
S2
|
TREND
|
||
GOLD
|
31325
|
31100
|
31000
|
30800
|
BULLISH
|
Silver: Silver trading range for the day
is 45684-46472. A range of mixed economic figures and conflicting remarks by
key Fed policymakers have kept investors guessing over the timing of the next
U.S. rate increase. Silver rose as the dollar dropped ahead of a two-day U.S.
Federal Reserve meeting that investors are betting will leave interest rates
unchanged. New residential construction in the U.S. pulled back by much more
than expected in the month of August, the Commerce Department revealed in a
report. Technically market is
under short covering as market has witnessed drop
in open interest by -7.95% to settled at 7702 while prices up 97 rupee, now
Silver is getting support at 45911 and below same could see a test of 45684
level, And resistance is now likely to be seen at 46305, a move above could see
prices testing 46472.
Outlook: We
expect Silver prices to trade positive
R2
|
R1
|
S1
|
S2
|
TREND
|
||
SILVER
|
46800
|
46700
|
46400
|
46000
|
BULLISH
|
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