Cont. No:
For Classroom Based Courses Click Here

Bullion fundamental short term outlook 22.09.2014

Back
Posted by : Nifm
22 September, 2014, 5:21 PM
Bullion fundamental short term outlook 22.09.2014
Bullion prices continuously fell to lows in morning trading hours on Monday due to a strengthening dollar, triggering some purchases from retail buyers in India ahead of the main festival season. Bullion prices slipped to their lowest in more than four years (GOLD) and eight-and-a-half months (SILVER). Bullion trading around 1209$ & 17.40$ an ounce in international markets. US dollar is trading around six-year highs as investors bet a stronger U.S. economy will eventually prompt the Federal Reserve to raise interest rates. Bullion have also fallen as the Fed has said it would end a bond-buying program in October that will tighten liquidity.  In dollar terms, silver prices has fallen about 30 per cent since November 17, 2010. In Indian Rs. terms, the fall was capped due to depreciation in the INR. On Friday, the rupee closed at 60.83 against the dollar, compared with 45.31 four years ago. Recommendation: Gold sell on rise around 26450 with stop loss above 26550 for targeting 26330-26220-26050. Silver on jumps around 39900-40000 with stop loss above 40400 for targeting 39300-38800.

Comments

Post Comment