Bullion Update

Expert Analysis for Gold and Silver Futures Trading

Bullion UpdateGold reclaimed $1,000 an ounce on Wednesday, rising 1.5 percent as a weaker dollar helped lift the precious metal to its best quarterly performance since early2008. Crude oil's rally and simmering geopolitical tensions inthe Middle East also supported gold.

Silver outperformed gold in the last trading session, gaining about 3 percent on COMEXcompared with 1.5 percent rise in gold.

IN FOCUS:

India's gold imports in September were provisionally around 35-40 tonnes, up from August but down by more than a quarter from 54 tonnes a year ago, the head of the Bombay Bullion Association said.

Bullion Update, Precious Metals Trading and Market Outlook: Nirmal Bang

Bullion Update, Precious Metals Trading and Market Outlook: Nirmal Bang    Gold: The counter is trading range bound since few sessions. The remained positive yesterday taking support at 15450 levels but closed below the trend line only. The counter is expected to continue sideways as there is no clear direction from the RSI and ADX indicates short term weakness with -DI on the upside. Thus prices may remain side-ways between 15425-15600, beyond 15625 prices may move positive.

Expert Analysis for Gold and Silver Futures Trading

Expert Analysis for Gold and Silver Futures Trading     Precious metals remained subdued in the last trading session as they seem to have entered in to a consolidation phase after the recent rally. Gold ended slightly up in a choppy trading on Tuesday as a dollar bounce kept bullion investors largely on the sidelines. Silver futures ended in a negative territory, shedding 0.12 percent on COMEX.

The world's largest gold-backed exchange-traded fund, the SPDR Gold Trust, said its holdings stood at 1,094.15 tonnes as of Sept. 29, unchanged from the previous business day.

Bullion Update, Precious Metals Trading and Market Outlook: Nirmal Bang

Gold ended a tad higher on Monday after initially risingGold ended a tad higher on Monday after initially rising toward $1,000 an ounce following the rise across the broad classes and thereby bolstering its status as a hedge against inflation.

October Silver futures on COMEX finished up 13.5 cents at $16.173 an ounce, about 1 percent up broadly tracking gold's strength.

The U. S. dollar rose against the euro and a basket of currencies despite the rally in U. S. stocks. The greenback dropped against the Japanese yen.

Expert Analysis for Gold and Silver Futures Trading

Gold-BarsGold: The counter remained positive in the yesterday’s session but failed to closed above 15600 levels. The directional index is still negative with –DI on the upside, but RSI seems to take support at this levels. Thus prices closing above 15600 can bring in upside movement in the counter, however breaching support at
15425 can trigger further downside till 15250.

Expert Analysis for Gold and Silver Futures Trading

Expert Analysis for Gold and Silver Futures Trading        Gold: The traded downwards yesterday breaching the trend line support and closed below the short term moving averages. The RSI turned down with fall in prices while ADX gives a negative cross over. Thus the prices are expected to remain side-ways to down and prices can even test 15362 (21 DMA) if prices continue to remain weak below 15650 levels.

Bullion Update, Precious Metals Trading and Market Outlook: Nirmal Bang

Bullion Update, Precious Metals Trading and Market Outlook: Nirmal BangGold: The counter is being range bound at the higher levels between 15750-880. The RSI is in the positive territory and ADXstillindicatesuptrend in the counter, thus any dip above 15650 (trend line support)can be a buying opportunity. Breaching 15890levels can trigger fresh upside in thepricestill 16150.

Expert Analysis for Gold and Silver Futures Trading

Expert Analysis for Gold and Silver Futures TradingGold turned over 1 percent lower on Wednesday as a stronger dollar dampened the metal's status as a hedge against the falling U. S. currency, even though the U. S. Federal Reserve said it would keep key interest rates at record lows. Silver too followed the fall in gold, paring 1.39 percent from its previous close on COMEX.

IN FOCUS:

Bullion Update, Precious Metals Trading and Market Outlook: Nirmal Bang

Bullion Update, Precious Metals Trading and Market Outlook: Nirmal Bang     Gold climbed more than 1 percent on Tuesday to trade within striking distance of recent 18-month highs, as a tumbling dollar stirred investment buying ahead of an interest-rate decision by the U. S. Federal Reserve. Silver outperformed gold, gaining 1.38 percent on Comex.

Expert Analysis for Gold and Silver Futures Trading

Expert Analysis for Gold and Silver Futures Trading     Gold: The Gold traded positive yesterday, however resisted the 15880 levels and closed below 7 DMA. The
RSI and +DI lifted up with rise in price. The counter can continue to remain positive above 15800 levels,
targeting 15880 and 15950 for the day.

Silver: The counter looks consolidating at the higher levels. The counter remained positive yesterday,
however closed below the 7 DMA. The prices may remain positive above the 27300 levels for the day targeting

Bullion Update, Precious Metals Trading and Market Outlook: Nirmal Bang

Bullion Update, Precious Metals Trading and Market Outlook: Nirmal Bang    Gold: The Gold prices moved negative for the day but closed near the open. The prices are also seen taking support near the trend line, 21 DMA and Middle line on the Bollinger Band. The RSI have breached the MA and is moving downside. Thus the bias remains on downside for the counter, breaching 15650 can trigger further downside in the counter.

Expert Analysis for Gold and Silver Futures Trading

Expert Analysis for Gold and Silver Futures Trading       Gold prices fell to a near one-week low on Monday, briefly dropping below $1,000 an ounce, as a dollar rally and record speculative positioning in the New York gold futures market prompted profit taking. Silver fell more than gold as it lost over 1 percent.

Bullion Update, Precious Metals Trading and Market Outlook: Nirmal Bang

Bullion Update, Precious Metals Trading and Market Gold: The counter has entered a new territory making a new high 16009 and closed above 15900. The counter has support at the 7 DMA of 15796. The RSI and ADX continue to indicate uptrend. Thus prices are expected to take support of the 7 DMA and move up targeting 16250 in near term.

Expert Analysis for Gold and Silver Futures Trading

Expert Analysis for Gold and Silver Futures Trading    Gold hit an 18-month high on Wednesday as the dollar slid near one-year lows against the euro, sparking buying of the yellow metal as an alternative asset and helping lift silver and platinum to multi-month peaks. Silver prices hit a 13-month high of $17.45 an ounce, and settled at 17.375, up by 2.34 percent.

Gold Fields, the world's No. 4 gold producer, said on Wednesday it expects to lift its annual gold output from South America to 1 million equivalent ounces in the next five years.

Expert Analysis for Gold and Silver Futures Trading

Expert Analysis for Gold and Silver Futures Trading             Gold hit an 18-month high on Wednesday as the dollar slid near one-year lows against the euro, sparking buying of the yellow metal as an alternative asset and helping lift silver and platinum to multi-month peaks. Silver prices hit a 13-month high of $17.45 an ounce, and settled at 17.375, up by 2.34 percent.

Gold Fields, the world's No. 4 gold producer, said on Wednesday it expects to lift its annual gold output from South America to 1 million equivalent ounces in the next five years.

Bullion Update, Precious Metals Trading and Market Outlook: Nirmal Bang

Precious-MetalsGold: The counter exactly took support at the support line and moved upwards breaching the earlier resistance at 15886; prices closed higher making a new high in the October contract. The Counter is expected to continue its uptrend for the day entering a new territory targeting 16250 in short run.

Silver: The counter moved positive above 27000 yesterday after a long consolidation phases, making a new high of 27350 in the December counter. The counter is expected to continue its uptrend, thus one can remain long in the counter above 27000 as we recommended yesterday, targeting 27600-800 in near term.

Expert Analysis for Gold and Silver Futures Trading

Expert Analysis for Gold and Silver Futures TradingGold reversed early losses to post moderate gains on Tuesday, turning up when the dollar reversed its early advance. Gold also got support from a strong U. S. retail sales reading that implied economic growth and possible inflationary environment down the road.

Silver outperformed gold as it rose by over 2 percent, compared with over 0.5 percent rise in gold on COMEX as well as on MCX.

Expert Analysis for Gold and Silver Futures Trading

Expert Analysis for Gold and Silver Futures TradingGold fell early in the session when the dollar gained strength against the euro, recovered some losses later, but remained moderately lower even as the dollar fell to its lowest point against the euro this year. Silver also witnessed profit taking in line with other industrial metals.

IN FOCUS: South Africa's National Union of Mineworkers said on Monday its members at Anglo Platinum, the world's top platinum producer, had agreed to a one-year wage deal, averting a possible strike.

Bullion Update and Market Outlook: Nirmal Bang

Bullion Update and Market Outlook: Nirmal BangGold: The counter is in a uptrend but strongly resisting the 15890 levels. The RSI and ADX are in a positive territory, thus breaching 15890 prices can enter a new territory targeting 16250 in short run. However till then prices are expected to trade range bund between 15725-880. Breaching 15700 can put downside pressure on the prices.

Bullion Update, Precious Metals Trading and Market Outlook: Nirmal Bang

goldGold future rose as the trading session kicked off, but it couldn’t sustain its highs as the later part of the trading session saw some profit taking coming in the market. Silver Futures however manage to rally up with Gold but couldnot maintain as Gold and Base Metal Complex traded lower.

The world's largest gold-backed exchange-traded fund, the SPDR Gold Trust, said its holdings stood at 1,077.63 tonnes as of Sept 9, unchanged since Sep 4th.




Check out More news from Recruitment News :: Admissions :: Exam Results :: Telecom Sector :: Pharmaceutical Sector :: Auto Sector :: Infrastructure :: Real Estate


Syndicate content