Bullion Update

Expert Analysis for Gold and Silver Futures Trading

GoldGold prices gave a sharp spike till 14823 in the later session yesterday. Prices have closed well above the 9 DMA and above the resistance line. Thus the prices have lead to positive crossover of RSI and upside crossover of +DI with –DI. Therefore the indicators have turned positive for Gold. Gold can remain positive above 14600.

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

goldGold prices have close just on the opening prices forming a perfect Doji candle, which indicated uncertainty in the direction. However, bias remains on negative for gold with close below 9 DMA, dropping RSI and downtrend signal from ADX. Thus on can sell Gold on every rise below 14650 levels, targeting 14350 in near term.

Silver Prices have remained below support 22400 levels giving a low of 22074, but closed higher at 22297. However, the bias remains on negative with dropping RSI and rising ADX with –DI. Thus one can sell Silver on rise between 22400- 600 levels, targeting 21700 in near term.

Expert Analysis for Gold and Silver Futures Trading

Monthly Outlook for GOLD: Nirmal BangPrecious metals ended slightly up on Tuesday on COMEX, after getting hit earlier in the session, with currency fundamentals proving the dominant factor as the dollar was hit by concerns about the outcome of FOMC meeting and overall health of the U. S. economy.

Gold futures closed a tad down in the last trading session on MCX. Silver witnessed a rise of 0.80 percent, ending the day at 22297 on MCX.

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

GoldGold prices have moved out of the downtrend and maintaining above 14500 levels. However the ADX is moving flat with no signal on the direction. Therefore, prices may remain positive above 14500, breaching this level can put downwards pressure on Gold till 14350 levels.

Silver Prices are moving in a down-trend taking support at 22400 levels. The ADX is moving flat with no strength in the direction. Prices are expected to trade range bound within 22400-22800 for the day. Breaching 22400 can push prices lower to 22150 and further lower to 21650 levels.

Expert Analysis for Gold and Silver Futures Trading

Monthly Outlook for GOLD: Nirmal BangCOMEX Gold futures ended a tad higher on Friday as the dollar turned marginally lower against Euro in a volatile session whereas Silver futures did not track Gold and ended slightly lower on COMEX.

Gold futures closed flat in the last trading session on MCX. Silver witnessed a marginal rise of 0.10 percent, ending the day at 22686 on MCX.

The world's largest gold-backed exchange-traded fund, the SPDR Gold Trust, said its holdings stood at 1,132.15 tonnes as of June 19, unchanged from the previous business day.

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

goldGold prices opened up higher and inched up to 14640, but failed to maintain upwards and closed lower at 14534. The ADX shows no direction on the trend. However, the prices have closed above the 9 DMA and above the support of 14500. The RSI also have cross-over the MA and moved up. Thus, the prices are expected to remain positive above 14500 levels.

Silver Prices are moving in a down-trend taking support at 22400 levels. The ADX is moving flat with no strength in the direction. Prices are expected to trade range bound within 22400-22800 for the day. Breaching 22400 can push prices lower to 22150 and further lower to 21650 levels.

Expert Analysis for Gold and Silver Futures Trading

Precious metalsPrecious metals ended lower on Thursday as the dollar turned higher in a volatile session, and further unwinding of fund interest because of lower inflation expectations led to further weakness in this complex.

Gold futures declined by nearly $1.4 or 0.15 percent and settled at $934.6 an ounce on COMEX while Silver futures lost over half a percent on COMEX. However, Gold and Silver lost 0.17 percent and 0.08 percent respectively on MCX.

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

GoldPrecious metals ended higher on Wednesday after reversing initial losses as investors followed a drop in dollar against the Euro and higher crude oil prices, and as new precious metals investment funds spurred fresh buying.

Gold futures rose by nearly $3.8 or 0.41 percent and settled at $936 an ounce on COMEX while Silver futures gained over a percent on COMEX. However, Gold and Silver gained 0.41 percent and 0.72 percent respectively on MCX.

Expert Analysis for Gold and Silver Futures Trading

GoldGold prices moved up above 14500 for closing yesterday. However prices closed below 9 DMA of 14531. The RSI have given a cross over on the upside, thus the bias remains on upside for the day.

Silver Prices moved lower during the day breaching the support at 22450, however prices showed strength by closing higher at 22732. The RSI is seen inching up, which indicate buying taking place at lower levels. Thus trader can cautiously buy at current levels, as breaking the support levels at 22400 can put downwards pressure on Silver prices.

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

goldGold prices remained positive but traded range bound in the previous session. The ADX suggest a down trend in Gold. Thus sell on Rise is advisable. For the day prices are expected to remain range bound between 14500-14350.

Silver prices moved up during the day but moved lower for the close, thus giving an indecisive candle. The prices are seen taking support at the previous low, therefore new selling can be done only on breaching this low of 22450. The prices are expected to trade range-bound for the day.

Expert Analysis for Gold and Silver Futures Trading

GoldPrecious metals climbed on Tuesday as the dollar fell amid speculation that major emerging countries could diversify their reserves away from the greenback, boosting bullion as a hedge against the dollar.

Gold futures rose by nearly $4.7 or 0.5 percent and settled at $932.2 an ounce on COMEX while Silver futures gained over a percent on COMEX. However, Gold and Silver gained 0.26 percent and 0.20 percent respectively on MCX.

The world's largest gold-backed exchange-traded fund, the SPDR Gold Trust, said its holdings stood at 1,132.15 tonnes as of June 16, unchanged from the previous business day.

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

Monthly Outlook for GOLD: Nirmal BangGold prices moved Lower in the previous session. The prices are now see holding near the support of 14350 levels, breaching this support prices can fall lower to 14250 and 14150 levels. The bias remains on the negative for Gold as the RSI with MACD is seen moving down. The ADX and –DI indicate a strong downtrend in Gold. Thus one can sell gold on Rise.

Expert Analysis for Gold and Silver Futures Trading

GoldPrecious metals slid on Monday as the dollar rose amid optimism about its status as a world reserve currency, but economic head winds bolstered gold's safe-haven appeal and capped the downside. However, the dollar rose broadly after Russia's finance minister expressed confidence in the greenback as the world's reserve currency.

Gold futures broke below $930 an ounce on Monday, losing 1.40 percent while Silver futures lost over 5 percent on COMEX. However, the loss on MCX was less severe as compared to loss on COMEX.

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

Bullion Update, Precious Metals Trading and Market Outlook: Nirmal BangPrecious metals declined sharply on COMEX on the back of a strong dollar rally and improving risk appetite which prompted funds to switch money out of the commodities sector and into other investments.

Gold futures broke below $940 an ounce on Friday, losing 2 percent while Silver futures lost around 4% percent on COMEX. However, precious metals ended flat on MCX.

Holdings of the SPDR Gold Trust, the world's largest bullion exchange-traded fund, were static for a fourth session on Friday.

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

GoldPrecious metals futures climbed on Thursday as the dollar turned broadly lower and signs of long-term currency weakness spurred fresh buying of bullion as a hedge against the depreciating greenback.

Gold futures rose by more than $7 an ounce, ending the day at $962 an ounce. Silver climbed by 1.58 percent and 1.12 percent on MCX and COMEX respectively.

Central banks may be justified in increasing their gold holdings to 40-50 percent of their reserves, a senior executive of the industry-funded World Gold Council said on Thursday.

Expert Analysis for Gold and Silver Futures Trading

Gold BarsGold prices traded weak during the day, but moved up for closing unlike the previous few sessions. Thus lead to a cross-over on upside in RSI with MA. The prices for the first time in the week closed above the middle line of the Bollinger Band, bring in positive sentiments. Thus one can buy gold at lower levels around 14580-620, targeting 14750 on upside.

Silver Prices moved lower during the day, but sharply bounced back closing higher at 23948. Thus lead to positive cross over in RSI. This indicates positive for Silver Prices. Therefore one can remain long in Silver at lower levels for upside of 24350-400 levels.

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

goldPrecious metals erased initial gains to finish almost flat on Wednesday as the dollar bounced back against Euro. Signs of lagging physical jewelry demand prompted investors to take profits and pressure the gold prices. However, the downside was capped as the investors took fresh positions on the back of inflationary concerns.

Silver futures ended the day marginally by 0.08 percent and 0.23 percent on MCX and COMEX respectively.

Bombay Bullion Association said India imported 17.8 tonnes of gold in May, down 39 percent from a year ago.

Expert Analysis for Gold and Silver Futures Trading

GoldGold prices Continued to remain within the range, but gave a close below 14600. Thus the cues remain on downside in gold for the day. Gold is expected to trade range bound between 14600-750. Breaching 14520 levels on downside can trigger a downfall in Gold.

Silver prices remain range-bound yesterday, forming a DOJI. Thus there persists a mix trend in Silver prices. However, looking at downside Cross over in MACD the bias remain on the negative. Thus one can buy Silver only above 23800 levels. Breaching 23150 levels can trigger downside in Silver prices till 22750-800.

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

GoldGold prices moved up during the previous day, but closed lower. But prices are seen taking support at 14600 at closing. In the previous week Gold prices were seen taking resistance at 14900 levels. The ADX is also lying below 20, with no directional signal on either side. Thus Gold is expected to trade range bound within the range. Breaching the 14600 levels in close can trigger southwards movement in gold.

Expert Analysis for Gold and Silver Futures Trading

goldPrecious metals rebounded on Tuesday on a weaker dollar and a rally in crude oil as signs of economic recovery further induced inflation-hedge buying.

Gold futures gained $2.2 an ounce on Tuesday, closing at $954.7 on COMEX. The gain was capped on MCX due to slight appreciation in Rupee against dollar. Silver futures rose by 1.84 percent and 0.84 percent on MCX and COMEX respectively.

The world's largest gold-backed exchange-traded fund, the SPDR Gold Trust, said its holdings were steady at 1,132.15 tonnes as of June 9, unchanged from the previous business day.




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