BULLION OUTLOOK FOR 24-25 JAN 2017

Gold: Technically market is under fresh buying as market has witnessed gain in open interest by 9.91% to settled at 7242 while prices up 178 rupee, now Gold is getting support at 28683 and below same could see a test of 28563 level, And resistance is now likely to be seen at 28890, a move above could see prices testing 28977. 

Outlook: Gold trading range for the day is 28563-28977. Gold gained as the U.S. dollar tumbled amid uncertainty around the economic policies of new U.S. President Donald Trump.

	R2	R1	S1		S2	TREND
GOLD	29000	28930	28800		28600	SIDEWAYS

Silver: Technically market is under fresh buying as market has witnessed gain in open interest by 1.5% to settled at 13219 while prices up 267 rupee, now Silver is getting support at 41346 and below same could see a test of 40999 level, And resistance is now likely to be seen at 41935, a move above could see prices testing 42177.

Outlook:  Silver trading range for the day is 40999-42177. Silver gained on a weaker dollar and safe haven buying on uncertainties over U.S. policy after Donald Trump was sworn in as president.

	R2	R1	S1		S2	TREND
SILVER	42000	41700	41600		41500	SIDEWAYS