YOU WILL NOT BE ABLE TO SAY THAT WE DIDN'T WARNED YOU!!
At the time of publishing this report gold is trading at around $1234 while white metal is trading at $14.45-Please note-Our three positions are active in gold and silver
yesterday we have witnessed moderate rally in gold and silver prices to reach almost there monthly highs as world stock market, Asian market and U.S Stock market had a major sell-off, hence safe heaven metals acted as they should be and we saw a decent rally in their prices but the question is will this rally continue or it's just trying to lure you and making you fool again?
we believe the latter is more accurate and we can confidently say this with our more than 11 years of experience without being overconfident or being attached to our existing positions-
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 are very bearish for the precious metal sector
Technicals-Our Three position in gold and silver are active, however, we believe buyers should be very cautious at this point as we believe 1200 level will be easily broken and there is not much support until 1180 which is very weak. Gold -0.73% -0.07% -0.37% 0.17% 0.69% likely will not be able to support around its psychological level if the U.S Dollar keeps rising and there are numerous factors which are suggesting the future dollar strength-
yesterday we have witnessed moderate rally in gold and silver prices to reach almost there monthly highs as world stock market, Asian market and U.S Stock market had a major sell-off, hence safe heaven metals acted as they should be and we saw a decent rally in their prices but the question is will this rally continue or it's just trying to lure you and making you fool again?
we believe the latter is more accurate and we can confidently say this with our more than 11 years of experience without being overconfident or being attached to our existing positions-
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 are very bearish for the precious metal sector
Technicals-Our Three position in gold and silver are active, however, we believe buyers should be very cautious at this point as we believe 1200 level will be easily broken and there is not much support until 1180 which is very weak. Gold -0.73% -0.07% -0.37% 0.17% 0.69% likely will not be able to support around its psychological level if the U.S Dollar keeps rising and there are numerous factors which are suggesting the future dollar strength-