WEEKLY BULLION OUTLOOK FOR 07-11 AUG 2017

BUY GOLD 28500 SL 27650 TGT 28650-28750.

BUY SILVER 38100 SL 37800 TGT 38500-38750.MCX

Gold: Gold trading range for the day is 28000-28700. Gold is getting support at 28500 and below same could see a test of 28300 level, And resistance is now likely to be seen at 28650, a move above could see prices testing 28820. Gold is trading into positive zone and traders can hold long positions until Gold closes below 28000 levels. Traders can initiate long positions on every dip until Gold closes below 28000 levels.

	R2	R1	S1		S2	TREND
GOLD	28750	28650	28500		28000	Bearish

Silver: Silver trading range for the day is 37800-38300. Technically Silver is getting support at 38000 and below same could see a test of 37800 level, And resistance is now likely to be seen at 38250, a move above could see prices testing 38400. Silver is trading into positive zone and traders can go long at every dip or hold long positions until Silver closes below 38000  levels.

	R2	R1	S1		S2	TREND
SILVER	38550	38300	38000		37800	Bearish