-- Published: Friday, 8 November 2019 | Print | Disqus
Typical gold and silver price movement after Diwali. Gold and silver have always formed short term peak around Diwali. Irrespective of the news, history has repeated itself. I will prefer to use sharp dips to invest for next year. Long term investment is good at current price. Short term investors and very short term traders need to remain on the sidelines. Physical demand and investment demand for gold and silver should rise.
Look for weekend short covering. If gold and silver do not see any short covering, then might move into a short term bearish phase. Assuming there are no Trump tweets.
China says that there will be a gradual reduction in trade tariffs. Basically China is conveying that trade tariff reduction will be two way thing. It will stop if USA does not reciprocate. Trump has a history of making a U turn on his commitment. It’s a wait and watch. Focus will be mainly on economics after a very long time.
COMEX SILVER DECEMBER 2019 – current price $1699.70
· Silver needs to trade over $1680-$1690 zone to rise to $1760.
· Crash or sell off will be there if silver trades below $1680 today to $1652 and $1606.
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NOTES TO THE ABOVE REPORT
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-- Published: Friday, 8 November 2019 | E-Mail | Print | Source: GoldSeek.com