Silver has started- we are waiting for GOLD
we are repeating the yesterday analysis as there is not much to report today besides some interesting report-
1-we witnessed sudden resignation of RBI Governor Urjit Patel and the shocking state assembly election results due to which we saw sharp losses in the afternoon session in Indian share markets-Indian Ruppe also made a huge downswing against u.s dollar
2-we saw modest surge IN world stock market as the market was very encouraged because of the report that suggests that telephonic conversation took place on monday between the U.S and Chinese official however if this trade war will not get fix trump has already warned that he will increase more tariff-
AT The time of publishing this analysis gold is trading at around $1243-slightly higher than our entry price which is at-$1240 while white metal is trading around 14.500-(our entry price)-we are starting this analysis with the latest news coming from world's second-largest economy-china which economy is growing at a very slow pace as there total exports hit 32 weeks low reported at 5.4% yoy which is much lower than expected-The U.S-China trade war is deeply affecting both economies and without a doubt precious metal sector prices and until we see a clarity regarding trade dispute we should not expect higher gold and silver prices-
This is the time for the celebration for the gold bulls and why not- we have witnessed that yellow metal has touched it's 20 week high at around $1250-right now we are seeing a minor correction-due to the turbulence we saw in world stock market more investors have entered the safe heaven asset but the question is are we seeing a minor pullback or this is the beginning of the fall we are anticipating from days-well at this point in time we can't confirm that this is the start of the fall because it's a minor pullback but yes it's probable that we may witness a major plunge in the prices of gold and silver but there is not enough evidence to support this thought-prices may go slightly higher- but from our decade of experience we are very sure that we'll witness a huge plunge in P. Ms sooner or slightly later or this is also probable that the fall has been already started-
EU stock market is also facing difficult times as Brexit turmoil seems not to settle any time soon-prime minister may have proposed an exit plan and the parliament of u.k will vote on it on Tuesday and report suggest that this plan is expected to be rejected-
our study suggest that there is not much room left for gold to move higher and it seems that gold bulls are taking their last breath however it's still possible that this last breath could be bigger than we are anticipating and we can see more sideways movement in the upcoming days or yellow metal could even move slightly higher from this point-(it seems not likely though)
Please, note-Our five trading positions are active in gold and silver
our previous comments-U.S Treasury yields are also failing which concerns traders and investors as it shows the slow economic growth in U.S.Greenback has also found it's support and on the rise now after falling very sharply yesterday while crude oil prices are near steady and trading at around 53.one news which is more interesting which came out that One of the most influential Federal Reserve policymakers said on Tuesday that he expects further interest rate hikes continuing next year since the U.S. economy is "in really good shape," Beside that the U.S-China trade which drove the precious metal sector from months doesn't seem to over very soon as most of the analyst paid (including us)very close attention to the G20 meeting in which U.S president and China president met face to face-However market is filled with uncertainty and doubts and there are enough reasons to do this
- According to Bloomberg, “The U.S. and China emphasized different results from Sunday’s high-stakes meeting between Presidents Donald Trump and Xi Jinping, with the split highlighting how much of a gap needs to be overcome over the next three months.”
market is very concerned that this 90-day truce is a very short time frame to resolve this major dispute between the two countries and on top of that officials from both counties have been caught giving different statement altogether-however trump has already said that if they will not be able to find some solution this 90 day truce he will increase the tariff more-all the factors sucked in are very bearish for the precious metal sector
1-we witnessed sudden resignation of RBI Governor Urjit Patel and the shocking state assembly election results due to which we saw sharp losses in the afternoon session in Indian share markets-Indian Ruppe also made a huge downswing against u.s dollar
2-we saw modest surge IN world stock market as the market was very encouraged because of the report that suggests that telephonic conversation took place on monday between the U.S and Chinese official however if this trade war will not get fix trump has already warned that he will increase more tariff-
AT The time of publishing this analysis gold is trading at around $1243-slightly higher than our entry price which is at-$1240 while white metal is trading around 14.500-(our entry price)-we are starting this analysis with the latest news coming from world's second-largest economy-china which economy is growing at a very slow pace as there total exports hit 32 weeks low reported at 5.4% yoy which is much lower than expected-The U.S-China trade war is deeply affecting both economies and without a doubt precious metal sector prices and until we see a clarity regarding trade dispute we should not expect higher gold and silver prices-
This is the time for the celebration for the gold bulls and why not- we have witnessed that yellow metal has touched it's 20 week high at around $1250-right now we are seeing a minor correction-due to the turbulence we saw in world stock market more investors have entered the safe heaven asset but the question is are we seeing a minor pullback or this is the beginning of the fall we are anticipating from days-well at this point in time we can't confirm that this is the start of the fall because it's a minor pullback but yes it's probable that we may witness a major plunge in the prices of gold and silver but there is not enough evidence to support this thought-prices may go slightly higher- but from our decade of experience we are very sure that we'll witness a huge plunge in P. Ms sooner or slightly later or this is also probable that the fall has been already started-
EU stock market is also facing difficult times as Brexit turmoil seems not to settle any time soon-prime minister may have proposed an exit plan and the parliament of u.k will vote on it on Tuesday and report suggest that this plan is expected to be rejected-
our study suggest that there is not much room left for gold to move higher and it seems that gold bulls are taking their last breath however it's still possible that this last breath could be bigger than we are anticipating and we can see more sideways movement in the upcoming days or yellow metal could even move slightly higher from this point-(it seems not likely though)
Please, note-Our five trading positions are active in gold and silver
our previous comments-U.S Treasury yields are also failing which concerns traders and investors as it shows the slow economic growth in U.S.Greenback has also found it's support and on the rise now after falling very sharply yesterday while crude oil prices are near steady and trading at around 53.one news which is more interesting which came out that One of the most influential Federal Reserve policymakers said on Tuesday that he expects further interest rate hikes continuing next year since the U.S. economy is "in really good shape," Beside that the U.S-China trade which drove the precious metal sector from months doesn't seem to over very soon as most of the analyst paid (including us)very close attention to the G20 meeting in which U.S president and China president met face to face-However market is filled with uncertainty and doubts and there are enough reasons to do this
- According to Bloomberg, “The U.S. and China emphasized different results from Sunday’s high-stakes meeting between Presidents Donald Trump and Xi Jinping, with the split highlighting how much of a gap needs to be overcome over the next three months.”
market is very concerned that this 90-day truce is a very short time frame to resolve this major dispute between the two countries and on top of that officials from both counties have been caught giving different statement altogether-however trump has already said that if they will not be able to find some solution this 90 day truce he will increase the tariff more-all the factors sucked in are very bearish for the precious metal sector
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