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Gold trading range for the day is 31891-32419.
Gold slipped as equities and the U.S. dollar got a lift from investors taking on more risk due to growing hopes for a resolution in the China-U.S. trade war.
U.S. Treasury Secretary Steve Mnuchin mulled a tariff rollback during trade discussions with Chinese Vice Premier Liu He, scheduled for Jan 30.
Hedge funds and money managers raised their net long position in Comex gold in the week to Dec. 18, the U.S. Commodity Futures Trading Commission said.
SPDR gold trust holdings, gained by 1.51% i.e. 12.05 tonnes to 809.76 tonnes from 797.71 tonnes, crossing 800 level for the first time after August 1,2018.
BUY GOLD 05 FEB 2019 @ 32250 SL 32150 TGT 32380-32540.MCX
Silver trading range for the day is 38820-39772.
Silver prices dropped as investors pushed into riskier assets, including stocks, fueled by hope of potential progress toward a resolution in the U.S.-China trade dispute.
U.S. consumer sentiment tumbled in early January to its lowest level since President Donald Trump was elected more than two years ago.
Investors are optimistic about the U.S.-China trade deal despite the fact the Treasury has denied all the recent rumors.
Hedge funds and money managers switched to a net long position in silver in the week to Dec. 18, the U.S. Commodity Futures Trading Commission said.
SELL SILVER MAR BELOW 39380 SL ABV 39580 TGT 39120-38780. MCX (STBT)
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