Gold Trading Tips via Mcx Researcher


Market Outlook:

Gold closed higher yesterday as a weaker dollar and losses in the U.S. stock market stimulated demand for the yellow metal. Silver closed lower in the domestic market as participants engaged in trimming their positions taking weak cues from global market. Copper & Nickel traded lower as investors and speculators trimmed their positions amid a fall in demand from consuming countries. Further, a slowdown in US manufacturing raised concerns over the health of the world’s biggest economy, dimming the demand outlook for metals. Crude oil closed higher as traders placed their latest wagers on the possibility that major producers will make progress this week on a pact to limit production.


Fundamental News:

Gold futures moved higher Monday, tracking a weaker dollar and lower stocks, as financial markets braced for volatility that could be stirred by the evening debate between Democratic presidential candidate Hillary Clinton and her Republican rival Donald Trump.

Crude oil futures traded higher on MCX as investors and speculators enlarged their positions ahead of a meeting between major oil producers this week to discuss possible output curbs in a bid to help ease a global supply glut and


Gold showed bullish movement and near to its resistance level of 31400. Now if it will close above the important resistance level of 31400 then 31650 will act as next resistance level. On lower side 31200 will act as vital support level.


Silver showed bearish movement in today’s session. Now if it will maintain above its resistance level of 46800 then 47100 will act as next resistance level. On the other hand 46250 will act as important support level.


Crude oil showed bullish movement. Now if it will maintain above 3120 then 3200 will be next resistance level. On the other hand 3000 will act as important support level.


Copper showed sideways to bullish movement and found the important resistance of 327.50. Now if it will break the resistance level of 328 then 330 will act as next resistance level. On the other hand 325 will act as a major support level.


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