BULLION OUTLOOK FOR 15-16 NOV 2016

WEEKLY CALL UPDATE:

GOLD HIT all TGT 30820 MADE HIGH OF 31376 !!!

silver HIT all TGT 44450 MADE HIGH OF 44790!!!

SELL GOLD DEC @ 29400 SL 29650 TGT 29200-29000.

SELL SILVER DEC @ 42300 SL 42700 TGT 42000-41700.

Gold: Gold trading range for the day is 29531-30379. Gold pared gains as markets pondered the economic growth outlook and the timing of a U.S. interest rate hike following the election of Donald Trump. Fed’s Williams said he still believes gradual U.S interest-rate rises make sense even after the surprise election of Trump as next U.S. president. SPDR gold trust holdings dropped by 1.40% i.e. 13.35 tonnes to 941.68 tonnes from 955.03 tonnes.

 Outlook: Technically market is under fresh buying as market has witnessed gain in open interest by 1.6% to settled at 6168 while prices up 23 rupee, now Gold is getting support at 29715 and below same could see a test of 29531 level, And resistance is now likely to be seen at 30139, a move above could see prices testing 30379.

	R2	R1	S1		S2	TREND
GOLD	30000	29800	29300		29000	SIDEWAYS

Silver: Silver trading range for the day is 43165-44905. Silver gained as uncertainty regarding the economic policies of new U.S. President-elect Donald Trump helped support the precious metal. The U.S. economy will remain in a low interest rate "regime" for perhaps two to three more years, St. Louis Federal Reserve President James Bullard. The number of Americans filing for unemployment benefits fell more than expected last week, underscoring the robustness of the labor market.

Outlook:  Technically market is under fresh buying as market has witnessed gain in open interest by 3.39% to settled at 11555 while prices up 787 rupee, now Silver is getting support at 43665 and below same could see a test of 43165 level, And resistance is now likely to be seen at 44535, a move above could see prices testing 44905.

	R2	R1	S1		S2	TREND
SILVER	44000	43800	43500		43000	SIDEWAYS