31 August 2016

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

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