GOLD OUTLOOK FOR 31 AUG- 01 SEP 2016

YESTERDAY’ SILVER ROCKSSSS HIT 

TGT 44600 MADE HIGH OF 43917!!!!

SELL GOLD @ 30800 SL 31000 TGT 30700-30650.

Gold: Gold trading range for the day is 30648-31136. Gold fell after Federal Reserve officials sounded a hawkish note on interest rates, boosting the dollar. Gold on MCX settled down -0.82% at 30821 fell to a six-week low the lowest since June after Federal Reserve officials sounded a hawkish note on interest rates, boosting the dollar, while attention turned to U.S. payrolls data this week for further clues on the pace of rate hikes. Technically market is getting support at 30735 and below same could see a test of 30648 level, And resistance is now likely to be seen at 30979, a move above could see prices testing 31136.   

Outlook: We expect gold prices to trade positive .

	R2	R1	S1		S2	TREND
GOLD	31150	31000	30750		30500	BEARISH

SILVER OUTLOOK FOR 30-31 AUG 2016

SELL SILVER @ SEP 44200 SL 44350 TGT 44000-43800

Silver:   Silver prices recovered from its intraday lows at 43559 levels yesterday. The counter has found support between 43750—43521 zones since the past 2-3 sessions. Thus, we expect the counter to pullback towards 44723/45150 levels until 43500 holds on the downside. A daily close below 43500 will extend the correction towards 42950/42700 levels.

Outlook:  We expect Silver prices to trade negative

	R2	R1	S1		S2	TREND
SILVER	44500	44300	44000		43900	SIDEWAYS

Gold:  Oct. Gold prices are trading on weak note currently. A decisive break down below 30851 levels will open downside targets of 30725/30669 levels for the counter. Momentum above 31000 levels will push prices higher towards 31093 levels. A daily close above 31100 levels will open upside targets of 31190/31246 levels.

Outlook: We expect gold prices to trade negative .

	R2	R1	S1		S2	TREND
GOLD	31150	31050	30900		30750	BEARISH

GOLD OUTLOOK FOR 29- 30 AUG 2016

SILVER ROCKSSSS HIT ALL TGT 44600 MADE HIGH OF 44705 GIVEN ON 26 AUG 2016

BUY GOLD OCT @ 31000 SL 30800 TGT 31200-31400

Gold:  Gold trading range for the day is 30638-31496. Technically now Gold is getting support at 30814 and below same could see a test of 30638 level, And resistance is now likely to be seen at 31243, a move above could see prices testing 31496. In the previous week, Gold prices remained quite volatile. After opening 31125 it moved up till 31415 and thereafter witnessed a sharp correction and tumbled to the low of 30851 and finally settled at 30990. Prices have breached the symmetrical triangle pattern and ended below it. On the weekly chart, the long term trend line support lies at 30660 and in coming session price could test these support of 30660 and re-bounce from the same towards 31200 then 31400 levels. Therefore we recommend to initiate long positions on dips.

Outlook: We expect gold prices to trade positive .

	R2	R1	S1		S2	TREND
GOLD	31150	31000	30880		30750	BULLISH

BULLION OUTLOOK FOR NEXT WEEK 29 AUG -02 SEP

BUY SILVER OCT @ 44000 SL 44200 TGT 44500-44600

Gold:  Oct. Gold prices moved lower towards the lower end of its trading range around 31020 levels yesterday. Sustenance below 30950 will trigger a range breakdown. Prices will correct towards 30738/30669 levels in that case. Pullback rallies will face resistance 31156—31200 zones.

Outlook: We expect gold prices to trade positive .

	R2	R1	S1		S2	TREND
GOLD	31500	31100	30900		30750	BULLISH

Silver:  Silver prices are trading around its immediate support at 43700 levels. Momentum above 43967 levels will trigger an intraday bounce towards 44250/44400 areas. Sustenance below 43700 areas for few sessions will extend the correction towards 43000/42700 levels.

Outlook:  We expect Silver prices to trade positive

	R2	R1	S1		S2	TREND
SILVER	44200	44000	43800		43600	BULLISH

TECHNICAL OUTLOOK OF GOLD FOR 24-25 AUG 2016

BUY GOLD OCT @ 31300 SL 31080 TGT 31520-31780

	R2	R1	S1		S2	TREND
GOLD	31500	31360	31250		31130	BULLISH

Outlook: We expect gold prices to trade positive .

Gold:  Gold trading range for the day is 31197-31501. Gold settled flat as markets shifted focus from comments by Fed official over the weekend to a meeting of global central bankers later this week. U.S. Federal Reserve Chair Janet Yellen may provide more clarity on interest rates in a speech at the meeting of central bankers. Indian gold refiner’s just months ago were ramping up capacity and struggling to secure enough ore from miners. Gold on MCX settled down -0.03% at 31370 traded in steady range in yesterday's session as traders weighed a trickle of economic data ahead of this week's big Jackson Hole meeting. While The flash manufacturing purchasing managers index from Markit fell to a reading of 52.1 this month from 52.9 in July. However, taking the July and August readings together suggests that manufacturing is enjoying its best growth so far this year in the third quarter, and should help drive stronger GDP growth. On Technically market is getting support at 31283 and below same could see a test of 31197 level, And resistance is now likely to be seen at 31435, a move above could see prices testing 31501.

TECHNICAL ANALYSIS OF GOLD FOR 23-24 AUG 2016

Gold:  Gold hit a two-week low on Monday as upbeat comments from Federal Reserve officials on the U.S. economy boosted expectations that the central bank could lift interest rates sooner rather than later. Gold on MCX settled down -0.08% at 31379 as Comex Gold hit a two-week low was down 0.3 percent at $1,336.99 an ounce as upbeat comments from Federal Reserve officials on the U.S. economy boosted expectations that the central bank could lift interest rates sooner rather than later. Gold is highly sensitive to rising U.S. interest rates, which boost the opportunity cost of holding non-yielding gold, while lifting the dollar, in which it is priced. In the week ahead, market players will turn their attention to a highly anticipated speech by Fed Chair Janet Yellen at the annual meeting of top central bankers and economists in Jackson Hole, Wyoming, for fresh clues on the timing of the next U.S. rate hike. Technically market is getting support at 31257 and below same could see a test of 31135 level, And resistance is now likely to be seen at 31448, a move above could see prices testing 31517.

Outlook: We expect gold prices to trade negative .

	R2	R1	S1		S2	TREND
GOLD	31500	31380	31200		31000	SIDEWAYS

MARKET OUTLOOK OF SILVER 22-23 AUG 2016

Silver:  After six weeks of consolidation, Silver prices finally breached the crucial neckline support of “Ascending triangle” pattern and ended below it. The medium term outlook has turned bearish and according to the pattern the targets are project till 42000 /41800 levels, which is exactly the support of a major trend line support drawn connecting the lower bottoms. The momentum indicator MACD has turned bearish on daily, while on weekly the averages are making negative cross over. Looking at, above scenario, we expect the silver prices to trade lower and will draw down till the support of 42000 levels in the coming sessions. Traders are recommended to sell around 45550 for targets of 44400 then 43000 levels for the week.

	R2	R1	S1		S2	TREND
SILVER	46300	46100	45500		44400	SIDEWAYS

Outlook:  We expect Silver prices to trade negative on the back of US non-farm payroll data released on Friday.

MARKET OUTLOOK OF GOLD FOR 19 AUG 2016

	R2	R1	S1		S2	TREND
GOLD	31600	31500	31100		30900	SIDEWAYS

Gold:  Gold rose on Thursday buoyed by a weaker dollar after minutes from the U.S. Federal Reserve's July meeting showed policymakers were divided over whether to raise interest rates soon. Meanwhile US data reports showed the number of Americans filing for unemployment benefits fell more than expected last week while manufacturing activity in the U.S. Mid-Atlantic region saw a mild improvement this month. This limited upside in bullion prices. However, prices were weak on Friday morning in Asian trade after New York Fed President William Dudley said strong recent U.S. job growth and a long-awaited return of middle-wage employment are two positive signs for the labor market, appearing to reinforce his more confident message on a possible interest rate hike. In other news,

MARKET OUTLOOK OF CRUDEOIL FOR 17-18 AUG 2016

	R2	R1	S1		S2	TREND
CRUDEOIL	3150	3120	3080		3050	SIDEWAYS

CRUDEOIL: Crude Oil settled up nearly 2 percent on Tuesday, hitting five-week highs for a second straight day as sources at OPEC spoke of Saudi Arabia's desire for higher crude prices while Russia met the producer group to discuss the market. The dollar's tumble to an eight-week low also supported crude prices, as did the loss of more than 700,000 barrels per day (bpd) in Nigerian output to militant attacks and pipeline problems. The Organization of the Petroleum Exporting Countries will probably revive talks on freezing oil output levels when it meets non-OPEC nations next month, OPEC sources told Reuters, citing Saudi Arabia's wish for higher prices. Russian and OPEC energy officials discussed oil markets at a meeting in Vienna, Russia's Energy Ministry said. Another "energy dialogue" between Russia and OPEC has been scheduled there for October. Prices pared some gains in