Gold Silver Reports – Gold trades lower as sentiment in equity markets continues to improve. A stronger INR too weighs on domestic prices. Investment demand meanwhile continues to support prices with SPDR holdings at highest since September 2014.
Neal Bhai
Spot Gold Hit Moonshot Target $ 1201.10
Gold price (XAU/USD) tumbles to near $4,210 during the early Asian trading hours on Wednesday. The precious metal loses momentum as traders book profits ahead of the upcoming key US data releases. Traders brace for the release of the US ADP Employment Change and ISM Services PMI data later on Wednesday.
Base Metals Sideways Rang, Copper and Nickel
Neal Bhai Reports ~ Base metals may remain sideways as China markets are closed due to lunar year holidays. Copper maytrade in range
Spot Gold Above 1174.50 This Level Target -$1191-1203
Gold (XAU/USD) extends its gains for the second consecutive trading session on Monday, up over 0.40% as money markets priced in a rate cut by the Federal Reserve (Fed) in the next week. Meanwhile, the US Dollar weakness keeps the yellow metal underpinned at around $4,240 at the time of writing after reaching a five-week high of $4,264.