MARKET OUTLOOK OF BULLION FOR 10-11 AUG 2016

Gold:  Gold: Aug. Gold prices have moved higher to hit an intraday high of 31550 levels. Failure to sustain above 31550 levels though will trigger a correction towards 31350/31300 areas. The pullback will advance further if prices break out decisively above 31550. 31690/31725 levels will be the upside targets for the counter in that case.

Outlook: We expect gold prices to trade negative on the back of US non-farm payroll data released on Friday.

	R2	R1	S1		S2	TREND
GOLD	31500	31400	31250		31150	SIDEWAYS

Silver:  Silver: Silver prices have moved higher after a gap-up opening. If prices sustain

MARKET OUTLOOK OF GOLD FOR 09-10 AUG 2016

Gold:  Gold steadied after falling to a one-week low on Monday as downward momentum from stronger-than-expected U.S. jobs figures late last week lost steam, with concerns over negative global economic sentiment lending support. The payrolls data on Friday reignited speculation that the Federal Reserve could press ahead with interest rate hikes later this year. Gold is highly sensitive to rising rates, which lift the opportunity cost of holding non-yielding assets such as bullion, while boosting the dollar, in which it is priced. Speculators added net longs in COMEX gold futures for the first time in a month in the week to Aug. 2, though they remained below last month's highest level in more than two years, while they cut it in silver for the first time in two months.

Outlook: We expect gold prices to trade negative on the back of US non-farm payroll data released on Friday.

	R2	R1	S1		S2	TREND
GOLD	31400	31250	31000		30900	SIDEWAYS

MARKET OUTLOOK OF BULLION FOR 08-09 AUG 2016

Gold:  Aug. Gold prices are trading with a cut of 0.50% currently. Counter has immediate support between 31000—30950 zones from hereon. Failure to sustain below 30950 levels will trigger a pullback rally towards 31215/31280 levels by close today. Momentum above 31300 levels will push prices higher towards 31550 areas.

Outlook: We expect gold prices to trade negative on the back of US non-farm payroll data released on Friday.

	R2	R1	S1		S2	TREND
GOLD	31400	31300	31100		31000	SIDEWAYS

Silver:  Silver prices have bounced after testing its immediate support around 47000 levels today. Intraday view though will stay negative until prices trade below 47633 levels.

MARKET OUTLOOK OF BULLION FOR 05-06 AUG 2016

Gold:  Gold: Aug. Gold prices have retraced from its swing highs at 31946 levels over the past two sessions. Areas between 31500—31450 are the immediate support zones for the counter. Momentum above 31660 will trigger a bounce towards 31745/31880 levels in the counter. Until then prices will trade between 31660 to 31450 levels.

Outlook: We expect gold prices to trade negative on the back of the chance of U.S. monetary policy being tightened before the end of the year.

	R2	R1	S1		S2	TREND
GOLD	31900	31870	31600		31500	SIDEWAYS

Silver:  Silver prices have bounced after testing its immediate support around 47000 levels today. Intraday view though will stay negative until prices trade below 47633 levels. Sustenance below 46950 will open downside targets of 46775/46563 levels for Silver. A daily close above 47633 will trigger a retest of 48240—48450 zones.

MARKET OUTLOOK OF GOLD FOR 03 AUG 2016

	R2	R1	S1		S2	TREND
GOLD	32100	32000	31700		31600	SIDEWAYS

Gold:  Gold Gold held steady on Tuesday as the dollar hovered near a three-week low after expectations of a near-term U.S. interest rate hike lost steam following last week's disappointing U.S. growth figures. U.S. consumer spending rose more than expected in June, but the Commerce Department report showed inflation still muted. This, together with weak business investment and the second quarter's anemic economic growth pace, could encourage a cautious Federal Reserve to keep interest rates at current low levels for a while. A raft of global risks that could adversely affect the United States remains on the horizon and requires close monitoring, Dallas Federal Reserve Bank President Robert Kaplan said on Tuesday. Atlanta Federal Reserve Bank President Dennis Lockhart said on Tuesday it was too soon to rule out an interest rate increase at the U.S. central bank's next meeting in September, with a lot of data set to come in on the health of the economy.

Outlook:  We expect gold prices to trade positive on the back of weak economic data from the US.

MARKET OUTLOOK OF BULLION FOR 02 AUG 2016

Gold:  Gold was little changed on Monday, hovering just below the prior session's near three-week top as investors cut expectations for a U.S. interest rate hike in the near term. Palladium and platinum, however, fared better, hitting their highest in more than a year on improved investor sentiment. The U.S. Federal Reserve gave no hints of any near-term interest rate rise as some had expected it to at its monthly policy meeting last week. Early on Monday, New York Fed President William Dudley said the central bank should be cautious on interest rate increases due to lingering risks to the U.S. economy. Markets will closely monitor this week's data, which includes the monthly non-farm payrolls report on Friday.

Outlook: We expect gold prices to trade negative on the back of the chance of U.S. monetary policy being tightened before the end of the year.

	R2	R1	S1		S2	TREND
GOLD	31850	31750	31600		31500	SIDEWAYS

MARKET OUTLOOK OF GOLD FOR 01 AUGUST 2016

	R2	R1	S1		S2	TREND
GOLD	31600	31500	31400		31250	SIDEWAYS

Gold:  Gold rose to its highest level in nearly three weeks on Friday after much slower-than-expected U.S. economic growth weighed on the dollar, and was on track for a second monthly gain in a row. The U.S. Commerce Department reported that GDP grew at an annual rate of 1.2 percent in the second quarter, far less than economists' estimates of 2.6 percent growth. Uncertainty over the path of interest rates has held gold in check since it rallied to more than two-year highs in the wake of Britain's shock vote last month to leave the European Union. The U.S. currency's decline was also due to the strength of the yen, after the Bank of Japan under whelmed investors by expanding monetary stimulus through only a modest increase in purchases of exchange traded funds.

Outlook: We expect gold prices to trade negative on the back of the chance of U.S. monetary policy being tightened before the end of the year.