Gold Silver Reports (NBR) – Taking positive leads from the global market and gold wedding season buying by local jewellers and retailers, gold prices recovered by Rs 80 during the week in the bullion market.
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Gold Prices Decline, Silver Rates Slump Amid Muted Demand
Gold Silver Reports (GSR) — Traders attributed the sharp fall in silver prices to weak demand from industrial units and coin makers. Prices of gold of 99.99% and 99.5% purity fell by Rs 100 each to Rs 32,050 and Rs 31,900 per 10 grams respectively.
MCX Gold CMP 30900 MCX Silve CMP 36640 Sell 100—500 Lots and So Jaao – MCX King Neal Bhai
Technical Analysis
Gold prices tumbled down to support level which is seen as an upward sloping trend line that comes in near 1,198. A break of trend line support, or a close below this level would lead to a test of the September lows at 1,180. Prices pushed through support near the 50-day moving average at 1,209, which is now seen as short-term resistance. Additional resistance is seen near the 20-day moving average at 1,224. Momentum is negative as the MACD (moving average convergence divergence) histogram is printing in the red with a declining trajectory which points to lower prices. The fast stochastic has tumbled moving lower which reflects accelerating negative momentum. The current reading on the fast stochastic is 9, which is below the oversold trigger level of 20 and could foreshadow a correction.
Diwali Gold Silver Tips 08 November 2018 By Neal Bhai (Gold Silver Target 2000 Points)
Diwali Gold Silver Tips 08 November 2018 By Neal Bhai (Gold Silver Target 2000 Points)
Neal Bhai Reports – 9899900589 & 9582247600
In global markets, gold prices however advanced as US mid-term elections delivered a split Congress and pressured the dollar. Market participants will now keep a close eye on a two-day Fed meeting starting later in the day for clues on future interest rate hikes. Spot gold was up 0.5% to $1,232.86 per ounce at 1203 GMT, while US gold futures climbed 0.7% to $1,234.30 an ounce.
The dollar index, which measures the price of greenback against a basket of other currencies, fell more than half a percent, making bullion more attractive for holders of other currencies
Democrats won control of the US House of Representatives, giving them the opportunity to block President Donald Trump’s push for a further round of tax cuts and deregulation – measures that have turbo-charged the US economy, stock markets and the dollar, and have kept the Fed on a policy-tightening path.
“This will presumably put paid to any further tax cuts, which means in the longer term that the Fed will need to implement fewer rate hikes, which per se will have a negative impact on the U.S. dollar,” Commerzbank analysts said in a note.
“President Trump may instead focus more on foreign policy, which is likely to generate additional uncertainty. Gold would profit long-term from both factors.”
Gold Silver Honeymoon Period Start Sell Sell Sell And Sleep, Big Target – Neal Bhai Reports
Gold Silver Honeymoon Period Start Sell Sell Sell And Sleep, Big Target – Neal Bhai Reports Technical Power of CFA’s(CHARTRED FINANCE ANALYST)“No Magic, No Miracle, Just Power of Level”Neal Bhai Reports (NBR) By CFA’s and MFA’s Technical TeamMobile No. 9582247600 & 9899900589
Spot Gold Weekly Technical Outlook – 29-Oct-2018
Technical Outlook – Technical Outlook: In our last Gold Weekly Technical Outlook, we continued to highlight a critical resistance confluence at $1238/1243, “a region defined by the 38.2% retracement of the yearly range, the 100% extension of the advance off the August low, the December swing low and the long 200-week moving average.” Price is testing this zone now and a weekly close above is needed to keep the immediate long-bias viable.
Gold Rally Will Fade, and Prices Could Drop to Lowest Level in Almost Two years
However, John LaForge of the Wells Fargo Investment Institute believes the rally will trip up investors in a matter of months — if not weeks.
Gold Rate Today 22-Oct-2018: Gold, Silver Down in Morning Trade
Bullion counter may trade on sideways path on mixed fundamentals. On domestic bourses strong local currency can keep price under pressure.
Gold Breaks Out of a Narrow Range, Multiple Indicators Signal Rally Ahead
Gold Silver Reports (GSR) – Previously, we did indicate that record short positions are written in COMEX in the $1,218-$1,220 range so any price movement above that zone will trigger short covering. We already witnessed short covering when gold jumped till $1,232 before retracing back to $1,220.