SELL
GOLD DEC @ 29500 SL ABV 29720 TGT 29360-29180. MCX
SELL
SILVER DEC @ 41550 SL ABV 41880 TGT 41220-40960. MCX
Gold: Gold trading range for the day is
29254-29506. Gold steadied with investors showing concern over the impact of
the potential economic policies of U.S. president-elect Donald Trump. One
interest rate increase, possibly next month, may be enough to bring U.S. rates
to a neutral setting, Fed’s Bullard said. SPDR Gold Trust said its holdings
fell 0.13 percent to 926.26 tonnes on Wednesday from 927.45 tonnes on Tuesday
Outlook: Technically
market is under fresh buying as market has witnessed gain in open interest by
1.22% to settled at 6370 while prices up 63 rupee, now Gold is getting support
at 29319 and below same could see a test of 29254 level, And resistance is now
likely to be seen at 29445, a move abov e could see prices testing 29506.
R2
|
R1
|
S1
|
S2
|
TREND
|
||
GOLD
|
29500
|
29400
|
29280
|
29200
|
SIDEWAYS
|
Silver: Silver
trading range for the day is 40740-41886. Silver prices dropped amid mounting
expectations that the Federal Reserve will hike interest rates next month. Prices
are down over the past week amid optimism that increased fiscal spending and
tax cuts under a Trump administration will spur economic growth. U.S.
industrial production was unchanged in October, weighed down by a decline in
utilities output, data from the Federal Reserve showed.
Outlook: Technically
market is under long liquidation as market has witnessed drop in open interest
by -0.51% to settled at 11443 while prices down -169 rupee, now Silver is
getting support at 40989 and below same could see a test of 40740 level, And
resistance is now likely to be seen at 41562, a move above could see prices
testing 41886.
R2
|
R1
|
S1
|
S2
|
TREND
|
||
SILVER
|
41500
|
41300
|
41000
|
40500
|
SIDEWAYS
|
No comments:
Post a Comment