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.

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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.

TRADING RANGE:

–          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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