Top 5 Commodity Technical Analysis and Forecast from 10th to 14th January 2025 by Neal Bhai.
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Buying MCX Silver around Rs 91,000 with a stop loss (21-01-2025)
Gold February futures contracts at MCX opened higher on Tuesday and were trading at Rs 78,850 per 10 gram around 9:45 am, which was up by 0.39% or Rs 306 while silver March futures contracts were trading higher by 0.68% or Rs 622 at Rs 92,064/kg.
MCX Gold Trying To Test Prices at 76,500
Spot Gold buyers are not ready to give up yet, as they fear a change in risk sentiment if US AI giant Nvidia Inc.’s earnings report disappoints and creates a wave of risk aversion in financial markets.
What Should Be Your Near-Term Strategy For The Gold?
With US election uncertainties behind us and the Fed cutting rates as anticipated, gold prices are experiencing profit-taking amid a lack of new catalysts.
MCX Gold Declines with US Election, Fed policy in focus; Experts’ Strategy for MCX Gold
Gold price today: Gold rates dropped significantly in the domestic futures market on Monday morning as investors exercised caution ahead of two critical events this week: the US election and the Federal Reserve’s policy announcement. Both are expected to significantly impact the movement of the US dollar, bond yields, and bullion prices going forward. MCX Gold for December 5 expiry traded 0.55 per cent down at ₹78,430 per 10 grams around 9:30 am.
Silver net speculative longs at four and half year high
Precious metals speculators yet again increased their net long positions in the Silver (XAG/USD) futures markets sharply last week, according to the latest Commitment of Traders (COT) data released by the Commodity Futures Trading Commission (CFTC). The non-commercial futures contracts of Silver futures, traded by large speculators, hedge funds and retailers, totaled a net position of 62198 contracts in the data reported through September 24, 2024. This was a weekly gain of 4000 net contracts and took net longs to four and half year high.
The Fed is ready to free up the US economy with a soft landing
The Federal Reserve will begin a crucial pivot this week, lowering interest rates for the first time in more than four years as it pursues a rare soft landing for the US economy.