-- Published: Wednesday, 27 November 2019 | Print | Disqus
The range trade in gold and silver which has been there in November will be broken in December. Volatility will rise. A new trend should be formed in December. I expect the US dollar Index to crash. Brexit, US jobs numbers and actual signing of the US-China trade deal should be market mover or market shaker in December.
Gold managed to trade over $1448 and needs to trade over $1448 to try and rise to $1482 and $1490. Silver can rise to $1780-$1800 as long as it trades over $1760. Crude oil and copper will zoom only when trade deal is signed. Till then firm trend will be there.
COMEX GOLD DECEMBER 2019 – current price $1459.00
· Gold needs to trade over $1446-$1452 zone to rise to $1480.
· Sellers will be there below $1454 and crash below $1446.
· There can be very sharp two way moves.
MCX GOLD FEBRUARY 2019 – previous day close Rs.37793
· View till 6th December: Gold needs to trade over 37450-37500 zone to rise to 38370 and 38744.
· Crash or sell off will be there if (a) Gold does not break 38370 by 6th December or (b) Gold falls below 37450.
· Today, there can be sharp pullback rallies as long as gold trades over 37600 to 38000 and 38247. Free fall will be there if gold trades below 37600.
(prices in Indian rupees above)
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-- Published: Wednesday, 27 November 2019 | E-Mail | Print | Source: GoldSeek.com