WEEKLY BULLION TRADING LEVELS FOR 30 APR- 04 MAY 2018

Gold:  Gold trading range for the day is 31500-30900. Gold is getting support at 31100 and below same could see a test of 30900 level, And resistance is now likely to be seen at 31250, a move above could see prices testing 31500 . Gold closed flat on Thursday, Gold fell on Wednesday, driven lower by a rising U.S. dollar and bond yields. On the daily chart, price has taken a support of middle Bollinger band, which indicate reversal in price . Forthermore, price has sustained above 50 days SMA ; which intimate medium term trend remains bullish. Therefore, we expect positive movement in the gold towards 31550.

	R2	R1	S1		S2	TREND
GOLD	31500	31250	31100		30900	SIDEWAYS

Silver: Silver trading range for the day is 39700-38800. Technically Silver is getting support at 39150 and below same could see a test of 38800 level, And resistance is now

likely to be seen at 39350, a move above could see prices testing 39700.Silver price closed flat on Thursday. On a daily Chart, price has taken support of rising trend line, which suggest more bullish trend in the counter. In addition, price has sustained above 50 days SMA ; which intimate medium term trend remains bullish. On the other hand, price has taken a support of middle Bollinger band, which indicate reversal in price. Therefore, we expect positive movement in silver towards 40000.

	R2	R1	S1		S2	TREND
SILVER	39700	39350	39150		38800	SIDEWAYS