Gold Silver Global and Domestic Weekly Recommendation

Gold recovered from lows near prices edged lower as the Though the market is focused other outcome of The U.S. presidential debate later on MCX Gold The precious metal is sensitive to moves in U.S. rates, which lift the opportunity cost of holding non-yielding assets such as bullion. A gradual path to higher rates is seen as less of a threat to gold prices than a swift series of increases.

Gold speculator and large futures traders added sharply to their gold bullish positions last week after trimming them for two weeks, gold futures would have breached the psychological $1300.00 level and ended up about $30.00 lower. July gold has been trending lower after Fed rate hike concerns helped wipe out nearly all of the gains from the quarter. Yes, that’s right because on June 30, the December futures contract closed at $1327.40 and on September, it had reached a low of $1305.50. Since then gold has bounced back a little, but it is still only up $14.00 since the end of June. Instead, bullish gold investors have the central bank to thank for last week’s solid gains So the best thing to do right now, barring any dramatic move to the upside by the dollar or a huge break by the stock market is to determine your range for gold and sell position of Last week, gold prices edged lower on Friday, but notched the strongest weekly advance in almost two months after the Federal Reserve held off on raising interest rates and scaled back the number of rate hikes it expects next year.

Leave a Reply

Your email address will not be published. Required fields are marked *