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Published on 19/07/2019 9:53:26 AM | Source: Kedia Commodity Ltd

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

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

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Gold

* Gold trading range for the day is 34765-35387.

* Gold gained as expectations of a rate cut later this month weighed on the dollar and prompted investors to seek the safe haven commodity.

* The International Monetary Fund (IMF) said the greenback was overvalued by 6% to 12%, based on near-term economic fundamentals.

* U.S. interest rates futures implied traders fully expect the Fed to cut rates at its upcoming policy meeting on July 30-31 with a 35% chance for a half-point decrease.

* Meanwhile, the Fed is widely expected to lower interest rates by 25 basis points at its policy meeting at the end of the month.

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


Silver

* Silver trading range for the day is 40035-41141.

* Silver prices rallied after the IMF said the U.S. currency is overvalued by 6-12% based on near-term economic fundamentals.

* San Francisco Fed President Mary Daly indicated that she was still uncertain over whether it was the time to cut interest rates at the end of the month.

* Construction of new houses in the US fell slightly in June and permits sank to the lowest in two years.

* Housing starts slipped 0.9% in June to an annual pace of 1.25 million last months, the government said.

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

 

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