What’s next for the Gold
Last week gold gained 253 rupees (+0.88%). It is sharply moving upside but 5 important events are coming up. It will 100% impact on Gold price.
- US employment report
- US ISM manufacturing data
- UK PMI manufacturing data
- Fed Governor Brainard speech
- Eurozone flash CPI data
MCX Gold hurdle is 29020 level. If it will close above to the hurdle then we can expect upside rally. Targets: 29180 – 29400 – 29500+ levels
…But past saying, GOLD REJECTED MANY TIMES TO CLOSE ABOVE 29020 LEVEL. Gold will try to remain below the hurdle. If this happens then you may expect 28500 – 28200 levels.
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Silver – Increasing Demand
Silver is playing the game very clearly. No need to do complex analysis or research or need to look in depth. Just keep watching 39870 level.
If silver will remain below to 39870 level then it may hit 39400 – 39000 below levels OR if it stays above to 39870 then we may see 41000 above levels soon.
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I hope everybody booked profit!
