Gold Prices Up 1 Percent on Dollar Retreat, Short Covering Rally

Gold Silver Reports (GSR) – Spot gold was up 0.90 percent at $1,212.20 per ounce. This was the metal’s biggest one-day gain in nearly two weeks. Prices had slipped to their lowest since Oct. 11 at $1,195.90 in the previous session. U.S. gold futures settled up $8.70, or 0.72 percent, at $1,210.10 

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Silver Weekly Performance Report: Fighting The Bearish Momentum

📌 Silver has a tough year, down 16% YTD.

📌Spec positioning in Comex silver is extremely negative, the CFTC shows.

📌Contrary to gold, silver-ETF investors are value-driven, FastMarkets’ estimates show.

📌I expect silver to win its fight against the present bearish momentum.

📌I propose SLV to take advantage of a potential rally in spot silver prices in Q4 2018.

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Gold Slips A Little Ahead Of Weekend

Gold Silver Reports — Gold slipped a bit as about two month highs triggered some profit selling. However, the recent recovery has enthused Gold bulls and a further uptick from hereon is quite possible. Indian imports are also rebounding, helping lift the sentiments. COMEX Gold is currently down 0.26% at $1247 per ounce. MCX Gold futures backed off from highs near Rs 28950 per 10 gram levels and ended down 0.30% at Rs 28800 levels. Further losses are possible if the counter drags under Rs 28700 mark today.

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