BULLION OUTLOOK FOR 13-14 OCT 2016

Gold:  Gold trading range for the day is 29484-29862. Gold prices edged down as the dollar rose on expectations that the U.S. Federal Reserve might raise interest rates in December. Several voting Federal Reserve policymakers judged a rate hike would be warranted "relatively soon" if the U.S. economy continued to strengthen. The European Central Bank may discuss technical changes to its asset-buying scheme next week but a decision could be deferred until December

Outlook: Technically now Gold is getting support at 29567 and below same could see a test of 29484 level, And resistance is now likely to be seen at 29756, a move above could see prices testing 29862.

	R2	R1	S1		S2	TREND
GOLD	30000	29900	29700		29400	SIDEWAYS

Silver:  Silver trading range for the day is 41590-42380.Silver prices ended with small gains but helped by a mild pullback from the U.S. dollar but remained amid growing expectations for a 2016 rate hike by Fed. Fed minutes meeting, showed the depth of the divide on how much longer they should allow the labour market and inflation to improve before raising rates. Holdings at ishares silver trust gained by 0.24% i.e. 26.57 tonnes to 11232.93 tonnes from 11206.36 tonnes.

Outlook:  Technically market is under short covering as market has witnessed drop in open interest by -0.45% to settled at 15749 while prices up 53 rupee, now Silver is getting support at 41820 and below same could see a test of 41590 level, And resistance is now likely to be seen at 42215, a move above could see prices testing 42380.

	R2	R1	S1		S2	TREND
SILVER	42750	42600	42000		41900	SIDEWAYS

TRADE IDEA ON GOLD AND CRUDEOIL

GOLD: Last week, Gold December contract prices witnessed a brutal sell off and have lost 3.79% to end at 29578. On technical front prices have corrected 38% of the rally ranging from (24460 – 34470). Now the next key support is at the 29000 level and on daily chart prices has formed positive Doji candle stick signifying buying supports at lower levels. Going forward, we could see prices recovering from the supports of 29000 levels. For the week, immediate resistances lie at 29800 then 30500. The momentum indicator RSI and MACD are still in a bearish tone so we recommend buying on dips around supports of 29000 levels. 

	R2	R1	S1		S2	TREND
GOLD	30000	29800	29500		29400	SIDEWAYS

CRUDEOIL: In line with expectation, Crude oil October contract prices extended its gaining streak by beaching the key long term trend line resistance of 3000 and ended at 3323 mark. Now the immediate support is at 3295 and as long as it holds above it the upside momentum remains intact and can move towards the previous high of 3442. However, a breakdown below 3295 will provide a correction till 3180 levels. The momentum indicator RSI and MACD are on a positive note and signifying bullish momentum.

	R2	R1	S1		S2	TREND
CRUDEOIL	3380	3350	3300		3280	SIDEWAYS

WEEKLY BULLION OUTLOOK FOR 07 OCT-14 SEP 2016

WEEKLY CALL UPDATE:

GOLD HIT all TGT 30750MADE LOW OF 29550 !!!

silver HIT all TGT 45040 MADE LOW OF 41161!!!

GOLD DEC SELL ON RISE @ 29700 SL 29900 TGT 29550-29350.

SILVER DEC SELL ON RISE @ 42000 SL 42350 TGT 41620-41150.

FOR MORE ROCKING CALLS FILL UP THE FORM GIVEN HERE>>>>>

Gold:  Gold trading range for the day is 29292-30090. Gold prices dropped as mostly upbeat economic data kept alive expectations for higher U.S. interest rates yet this year. The latest economic snapshot, showing a drop in weekly jobless benefits claims, injected economic optimism ahead of monthly payrolls report. Global market uncertainty, and subsequent calming factors, does continue to inject some volatility in gold markets.

Outlook: Technically market is under long liquidation as market has witnessed drop in open interest by -1.01% to settled at 8417 while prices down -341 rupee, now Gold is getting support at 29433 and below same could see a test of 29292 level, And resistance is now likely to be seen at 29832, a move above could see prices testing 30090.

	R2	R1	S1		S2	TREND
GOLD	30000	29800	29500		29400	SIDEWAYS

Silver:  Silver trading range for the day is 40205-43431. Silver prices dropped continuing its weak trend amid growing expectations for a December rate hike by the Federal Reserve. The U.S. Department of Labor said the number of individuals filing for initial jobless

TRADE IDEA ON BULLION FOR 06-07 OCT

GOLD DEC SELL ON RISE@ 30050 SL 30200 TGT 29850-29700.

SILVER DEC SELL ON RISE @ 43000 SL 43450 TGT 42560-42050.

FOR MORE ROCKING CALLS FILL UP THE FORM GIVEN HERE>>>>>

Gold:  Gold trading range for the day is 29600-30296. Gold prices dropped after data showed that the U.S. services sector accelerated in September to the fastest level in 11 months. Prices seen under pressure as the U.S. dollar climbed to a two-month high amid indications the Fed is getting closer to raising interest rates. The European Central Bank is said to be building an informal consensus to gradually wind down bond purchases.

Outlook: Technically now Gold is getting support at 29758 and below same could see a test of 29600 level, And resistance is now likely to be seen at 30106, a move above could see prices testing 30296.

	R2	R1	S1		S2	TREND
GOLD	30100	30000	29870		29750	SIDEWAYS

Silver: Silver trading range for the day is 41566-43722. Silver dropped amid mounting concern that an improving U.S. economy will push the Federal Reserve to boost interest rates soon. Federal Reserve officials are talking up the increasing likelihood of an interest-rate rise in the U.S. Holdings at ishares silver trust dropped by 0.52% i.e. 59.05 tonnes to 11206.36 tonnes from 11265.41 tonnes.

 Outlook:  Technically now Silver is getting support at 42090 and below same could see a test of 41566 level, And resistance is now likely to be seen at 43168, a move above could see prices testing 43722.

	R2	R1	S1		S2	TREND
SILVER	43000	42800	42500		42000	SIDEWAYS

BULLION OUTLOOK FOR 05-06 OCT 2016

bullion call update: given on 30 sep

GOLD HIT TGT 30750 MADE low OF 29885 !!!

silver HIT TGT 45040 MADE low OF 42570!!!

Gold:  Gold trading range for the day is 29336-31256. Gold dropped as a stronger dollar and signals that Fed might be closer to raising interest rates this year drove investors out of the precious metal. Fed’s Evans said he would be "fine" with raising U.S. interest rates by year end if U.S. economic data continued to come in firm. Positive economic data usually puts pressure on gold prices as it increases expectations of a U.S. interest rate hike.

Outlook: Technically market is under long liquidation as market has witnessed drop in open interest by -7.18% to settled at 8603 while prices down -814 rupee, now Gold is getting support at 29691 and below same could see a test of 29336 level, And resistance is now likely to be seen at 30651, a move above could see prices testing 31256

	R2	R1	S1		S2	TREND
GOLD	30180	30100	29900		29700	SIDEWAYS

Silver:  Silver trading range for the day is 40990-46040. Silver dropped weighed down by a stronger U.S. dollar following recent upbeat U.S. data continued to weigh on the precious metal. Fed’s Lacker that there was a strong case for raising interest rates, stoked

TRADE IDEA ON BULLION FOR 04-05 OCT 2016

URJIT PATEL'S FIRST RBI POLICY ANNOUNCEMENT

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Gold:  Gold trading range for the day is 30712-31098. MCX Gold prices has shown breakdown of symmetrical triangle pattern at 30880 levels on hourly time frame. On the other hand, prices have been trading below 20 HEMA on hourly chart. On the other hand, price has shown breakdown of horizontal trend line at 30820 levels on hourly chart. Moreover, Momentum Indicator RSI is trading below 50 levels on hourly time frame. For now we expect prices should move lower towards 30550 levels in the coming trading sessions.

Outlook: Technically market is under fresh selling as market has witnessed gain in open interest by 2.49% to settled at 9268 while prices down -120 rupee, now Gold is getting support at 30786 and below same could see a test of 30712 level, And resistance is now likely to be seen at 30979, a move above could see prices testing 31098.

	R2	R1	S1		S2	TREND
GOLD	31000	30850	30750		30600	SIDEWAYS

Silver:  Silver trading range for the day is 44104-46286. On hourly chart MCX Silver price have observed breakdown of its Descending Triangle pattern at 45150 levels. Furthermore, MCX Silver prices are trading below its 20 HEMA on hourly time frame. In addition COMEX silver prices have witnessed breakdown of its Head & Shoulder pattern at $19.03

WEEKLY CALL UPDATE:

GOLD HIT ALL TGT 30750 MADE LOW OF 30665 !!!

SILVER HIT TGT 45420 MADE LOW OF 45379!!!

“SELL GOLD OCT @ 30900 SL 31380 TGT 30800-30750.

“SELL SILVER DEC @ 45800 SL 46240 TGT 45420-45040.

Gold:  MCX Gold prices has shown breakdown of symmetrical triangle pattern at 30880 levels on hourly time frame. On the other hand, prices have been trading below 20 HEMA on hourly chart. On the other hand, price has shown breakdown of horizontal trend line at 30820 levels on hourly chart. Moreover, Momentum Indicator RSI is trading below 50 levels on hourly time frame. For now we expect prices should move lower towards 30100 levels in the coming trading sessions

Outlook: Technically market is under long liquidation as market has witnessed drop in open interest by -10.06% to settled at 6141 while prices down -350 rupee, now Gold is getting support at 30869 and below same could see a test of 30761 level, And resistance is now likely to be seen at 31178, a move above could see prices testing 31379

	R2	R1	S1		S2	TREND
GOLD	31000	30900	30700		30650	SIDEWAYS

Silver:  On hourly chart MCX Silver price have been trading in horizontal channel pattern from past few weeks. Furthermore, MCX Silver prices are trading below its 20 HEMA on hourly time frame. In addition COMEX silver prices have been facing resistance of its falling