BULLION OUTLOOK FOR 15-16 DEC 2016

SELL GOLD BELOW 27180 SL 27320 TGT 27000-26800.

SELL SILVER BELOW 41200 SL 41520 TGT 41000-40800.

Gold:  Gold trading range for the day is 27488-27734. Gold prices edged higher on a weaker dollar and as markets waited for the outcome of the U.S. Federal Reserve's policy meeting. Fed’s Yellen announced that the central bank was raising interest rates by 0.25%, and that it planned three additional rate hikes next year. Data prior to Fed statement showed U.S. retail sales barely rose in November, while U.S. industrial production fell more than expected.

Outlook: Technically market is under short covering as market has witnessed drop in open interest by -3.94% to settled at 6141 while prices up 52 rupee, now Gold is getting support at 27537 and below same could see a test of 27488 level, And resistance is now likely to be seen at 27660, a move above could see prices testing 27734.

	R2	R1	S1		S2	TREND
GOLD	27650	27500	27000		26800	SIDEWAYS

Silver: Silver trading range for the day is 40899-42385. Silver gains with the dollar little changed as investors awaited the outcome of the Federal Reserve’s latest policy meeting. The U.S. central bank raised interest rates for the first time in a year and signalled further rate hikes for 2017. The Commerce Department said retail sales edged up 0.1 percent after two

BULLION OUTLOOK FOR 14-15 DEC 2016

BUY GOLD DEC @ 27600 SL 27500 TGT 27800-27900.

BUY SILVER DEC @ 41600 SL 41000 TGT 41800-42000.

Gold:  Technically market is under long liquidation as market has witnessed drop in open interest by -0.7% to settled at 6393 while prices down -131 rupee, now Gold is getting support at 27458 and below same could see a test of 27380 level, And resistance is now likely to be seen at 27631, a move above could see prices testing 27726.

	R2	R1	S1		S2	TREND
GOLD	31000	30650	30500		30000	SIDEWAYS

Silver: Technically market is under fresh selling as market has witnessed gain in open interest by 3.34% to settled at 12922 while prices down -489 rupee, now Silver is getting support at 40884 and below same could see a test of 40534 level, And resistance is now likely to be seen at 41672, a move above could see prices testing 42110.

	R2	R1	S1		S2	TREND
SILVER	44250	44100	44000		43750	SIDEWAYS

BULLION OUTLOOK FOR 13-14 DEC 2016

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BUY GOLD DEC @ 27500 SL 27400 TGT 27680-27820.

BUY SILVER DEC @ 41300 SL 41000 TGT 41580-41750.

Gold:  On daily chart, MCX Gold prices has observed Bullish Anti-Nen Star Harmonic pattern at 27415 levels. Furthermore, MCX Gold prices are trading above its 10 HEMA on hourly time frame. Moreover, Momentum Indicator RSI is trading above 50 levels hourly time frame which indicates positive momentum to the prices. For now we expect prices should move higher towards 27900 levels in the coming trading sessions.

Outlook: Technically market is under fresh buying as market has witnessed gain in open interest by 2.66% to settled at 6438 while prices up 90 rupee, now Gold is getting support at 27494 and below same could see a test of 27321 level, And resistance is now likely to be seen at 27761, a move above could see prices testing 27855.

BULLION OUTLOOK FOR 12-13 DEC 2016

Silver: Last week, Silver March contract prices opened on a flat note at 41269 and rose till the high of 41999, but in the later session it dipped lower till 40747 and finally settled at 41221 forming Doji candlestick pattern. On the broader scenario, prices are still moving within the falling trend channel and for the week resistance are seen at 42200 the 42800 levels. While on the lower side key support is at 39100 mark of 61.8% retracement level. For current week, we expect prices to remain lower and recommend selling on rise near around 42000 levels for targets of 39800 then 39200 levels.

	R2	R1	S1		S2	TREND
SILVER	42450	42200	42000		40000	BEARISH

CRUDEOIL: In the last week, Crude oil prices December contract remained sideways to bearish. After opening at 3488 rose till the high of 3579 but it failed to sustain and dipped lower till 3351 and finally settled at 3474 forming a Doji candlestick pattern. Last week prices have once again managed to settle above the previous high of 3460 and on immediate basis the rising trend line is seen around 3610, surpass above it will provide fresh bullish move in the coming sessions. On the lower side supports are seen at 3430 then 3350 levels.

	R2	R1	S1		S2	TREND
CRUDEOIL	3600	3430	3380		3220	BULLISH

WEEKLY BULLION OUTLOOK FOR 09-16 DEC 2016

WEEKLY CALL UPDATE:

GOLD HIT TGT 27800 MADE HIGH OF 27700 !!!

silver HIT all TGT 41800 MADE HIGH OF 41995!!!

BUY GOLD DEC @ 27800 SL 27500 TGT 28000-28200.

BUY SILVER DEC @ 41350 SL 41000 TGT 41600-42000.

Gold:  On hourly chart, MCX Gold prices has observed breakdown of Bearish Pennant pattern at 27774 levels. Furthermore, MCX Gold prices are trading below its 21 HEMA on hourly time frame. Moreover, Momentum Indicator RSI is trading below 50 levels hourly time frame which indicates negative momentum to the prices. For now we expect prices should move lower towards 27500 levels in the coming trading sessions

Outlook: Technically market is getting support at 27711 and below same could see a test of 27644 level, And resistance is now likely to be seen at 27884, a move above could see prices testing 27990.

	R2	R1	S1		S2	TREND
GOLD	31000	30650	30500		30000	SIDEWAYS

Silver: On hourly chart, MCX Silver prices are witnessed breakout of its Horizontal Trend line at 41764 levels. Furthermore, COMEX Silver Prices observed breakout of its consolidation formation at $17.09 levels on hourly time frame. In Addition, MCX Silver prices are trading above its 50 HEMA on hourly time frame which indicates positive momentum to the prices. For now we expect prices to move higher towards 42200 levels in few trading sessions.

Outlook:  Technically market is under fresh selling as market has witnessed gain in open interest by 2.29% to settled at 12608 while prices down -421 rupee, now Silver is getting support at 41301 and below same could see a test of 41077 level, And resistance is now likely to be seen at 41806, a move above could see prices testing 42087.

	R2	R1	S1		S2	TREND
SILVER	44250	44100	44000		43750	SIDEWAYS

BULLION OUTLOOK FOR 08-09 DEC 2016

Gold: On hourly chart, MCX Gold prices are trading above its trend line support. Moreover, COMEX Gold prices has observed breakout of its Bullish Flag Pattern at $1175 levels on hourly time frame. Moreover, Momentum Indicator RSI has observed Bullish divergence on hourly time frame which indicates positive momentum to the prices. For now we expect prices should move higher towards 28250 levels in the coming trading sessions.

Outlook: Technically market is under short covering as market has witnessed drop in open interest by -2.38% to settled at 6161 while prices up 84 rupee, now Gold is getting support at 27805 and below same could see a test of 27700 level, And resistance is now likely to be seen at 28020, a move above could see prices testing 28130.

	R2	R1	S1		S2	TREND
GOLD	28000	27900	27800		27700	SIDEWAYS

Silver: MCX Silver achieved our short term target at 41750 levels in yesterdays trading sessions. On hourly chart, MCX Silver prices are witnessed breakout of its Ascending triangle Formation at 41630 levels. Furthermore, COMEX Silver Prices observed breakout of its consolidation formation at $17.09 levels on hourly time frame. In Addition, MCX Silver prices are trading above its 21 HEMA on hourly time frame which indicates positive momentum to the prices. For now we expect prices to move higher towards 42600 levels in few trading sessions.

Outlook:  Technically market is under short covering as market has witnessed drop in open interest by -2.03% to settled at 12326 while prices up 924 rupee, now Silver is getting support at 41199 and below same could see a test of 40451 level, And resistance is now likely to be seen at 42347, a move above could see prices testing 42747.

	R2	R1	S1		S2	TREND
SILVER	42000	41800	41550		41400	SIDEWAYS