VIEW ON PRECIOUS METALS
Today, weakness shall continue in precious metals. You should book 50% of your short position here (Gold: around 1260-1250 &Silver: around 19.20-19.30).
Today, sharp fall is possible in bullion. However, a small recovery is indicated around 15.00 HRS (IST) – US opening. And then it shall again fall.
Weakness shall continue in bullion for tomorrow as well.
If gold goes below 1220 it can drop to 1160.
If Silver goes below 19.20 it can drop to 18.10.
You can book 50% profit in Silver around 19.20 (which has been achieved) and 50% hold for 18.10. Similarly, in Gold, 50% position to be booked at 1220 and rest 50% at 1160.
– GOLD: 1,280-1,220
– SILVER: 19.70-18.80
Please note that we had already mentioned publicly in this’ weekly newsletter about the fact that bullion is ready for a crash.
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