Bullion Market has risen by about 1.7% so far this month and 1.6% for the week. “People are doing fear trade now and running towards gold,” said Michael Matousek, head trader at U.S. Global Investors. He noted investors were unsure of what Trump planned to do.
Neal Bhai
US Gold Major Support to be watched -$1290 – Neal Bhai Reports
Gold Silver Reports (GSR) – US Gold Major support to be watched – $1290. Any break below targets $1286/$1283.it should break below $1275 for minor weakness.Major trend reversal only below $1266.Below that level targets $1250.
S&P500 Trades Below 200- Day MA, Dip Till 2720 Likely
S&P500 continues to trade lower and lost more than 1%.In this month the index declines more than 6.5% on account of renewed trade war.US President Trump said that US will impose 5% on Mexican imports from Jun 10th 2019 and to put additional tariff of 25% if Mexico does not “reduce or eliminate number of illegal aliens”.
MCX Gold Price Prediction – Above 31820 Level Expected Target 32220 — 32380 – Neal Bhai Reports
Gold prices rose on Friday, heading towards their first monthly gain since January on increased safe-haven demand, after U.S. President Donald Trump vowed to levy tariffs on all imports from Mexico, ratcheting up concerns of a global economic slowdown.
USD/INR Trades in Range, Further Trend Sideways – Gold Silver Reports
USD/INR Trades in Range
Intraday bias remains slightly bullish for the moment.
It made intraday high at 69.79 and low at 69.66 marks.