Gold Silver Trading Tips – Yesterday Buy Call Rocking– Gold High 40628, Silver High 45975
Spot gold rose by 0.69 percent to close at $1576.7 per ounce after equities closed negative and the US FED decided to keep interest rates unchanged in their latest monetary policy meeting held yesterday. Yields on the 10-year Treasury note dipped to their lowest since October. 10 as the corona virus impact might hamper the global growth.
Gold prices traded in a narrow $3 range on Monday as strong U.S. economic data encouraged investment in riskier assets while limited risk hedging supported the metal.
Gold Silver prices witness very high volatility on Monday. Gold prices tested $1584 per troy ounce to hit a near 7-year high, and silver prices test $18.50 per troy ounce in the international market.
In global markets, gold prices today surged 1.5% to $1,579.55 per ounce, the highest level in about six years. The gains extended Friday’s surge after a US air strike in Iraq killed top Iranian commander Qassem Soleimani. The killing has heightened concerns of a widening Middle East conflict.
Precious Metals – ABN AMRO’s Senior precious metals strategist, Georgette Boele, notes that gold prices have gained 17% this year and argues that gold prices have risen too sharply in a short period and are likely to make a correction in the coming months.