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Published on 16/07/2019 10:30:33 AM | Source: Kedia Commodity Ltd

Buy Gold Aug 2019 @ 34800 SL 34650 TGT 34980-35100.MC - Kedia Commodities

Posted in Commodities Reports| #Kedia Commodity Ltd #Commodity Tips

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GOLD

Gold trading range for the day is 34672-35074.

Gold prices slipped as key China data assuaged concerns about global economic slowdown and boosted appetite for riskier assets.

Denting the bullion's appeal, encouraging Chinese data suggested the economy may be starting to stabilise due to ramped-up stimulus from Beijing.

Hedge funds and money managers cut their bullish stance in COMEX gold in the week ended July 9, the U.S. CFTC said in a report.

In India, dealers were offering a discount of up to $20 an ounce over official domestic prices, down from $30 last week,

BUY GOLD AUG 2019 @ 34800 SL 34650 TGT 34980-35100.MC

 

SILVER

Silver trading range for the day is 38114-38914.

Silver prices steadied as a boost in risk appetite from generally positive economic data was insufficient to derail demand in an environment marked by decreasing yields.

Prices jumped in recent sessions amid expectations of an interest rate cut that will likely weaken the dollar and boost the metal.

The US dollar fell pressured by expectations that the Federal Reserve will start cutting interest rates at a monetary policy meeting later this month.

U.S. President Donald Trump and Chinese leader Xi Jinping met last month in Japan and promised to resume trade negotiations.

BUY SILVER SEP 2019 @ 38200 SL 37950 TGT 38550-38800.MC

 

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