BULLION OUTLOOK FOR 21-22 NOV 2016

BUY GOLD DEC @ 28900 SL BELOW 28720 TGT 29050-29180.

BUY SILVER DEC @ 40100 SL BELOW 39780 TGT 40420-40700.

Gold:  Gold trading range for the day is 28712-29112. Gold dropped as the dollar surged to its highest in more than 13-1/2 years on expectations for a U.S. rate hike next month. Trump's election has done nothing to change the Fed's plans for a rate increase "relatively soon", Yellen said in Congressional testimony. SPDR Gold Trust, said its holdings fell 0.58 percent to 915.29 tonnes on Friday from 920.63 tonnes on Thursday.
Outlook: Technically now Gold is getting support at 28824 and below same could see a test of 28712 level, And resistance is now likely to be seen at 29024, a move above could see prices testing 29112.

	R2	R1	S1		S2	TREND
GOLD	31000	30650	30500		30000	SIDEWAYS

Silver: Silver trading range for the day is 39877-40893. Silver prices dropped as the dollar rallied amid mounting expectation for higher U.S. interest rates. Federal Reserve policymaker James Bullard is leaning towards supporting an interest rate increase in December. Holdings at ishares silver trust dropped by 1.70% i.e. 188.84 tonnes to 10891.89 tonnes from 11080.73 tonnes

Outlook:  Technically now Silver is getting support at 40132 and below same could see a test of 39877 level, And resistance is now likely to be seen at 40640, a move above could see prices testing 40893.

	R2	R1	S1		S2	TREND
SILVER	29250	29150	29000		28900	SIDEWAYS