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Commodity Research Report 02 January 2017 Ways2Capital.pdf


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BULLION METALS OUTLOOK GOLD - Gold Last week, spot gold prices rose by 1.6 percent to close at 27445. Although
expectations remain that the U.S. Federal Reserve will further raise interest rates, while MCX gold
prices also rose by around 1.7 percent in the same time frame. Bullion bounced back on Thursday after
hitting a 10-month low on Dec. 15 as solid U.S. economic data gave the U.S. Federal Reserve the
confidence to raise interest rates for the first time in a year. Recent upbeat U.S. data has helped
underscore expectations the Fed will raise interest rates more quickly next year, which would lower
demand for non-yielding assets such as bullion, while boosting the dollar in which it is priced We
expect gold prices to trade lower on anticipation of further rate hike in the US and stronger dollar
index. Besides,lower investment and physical demand will also exert downside pressure on yellow
metal.The Precious Metal is Expected to trade in the range of 27308-27688 in this Week trading
Session.

GOLD CHART -

Chart Detail - The statistical and technical indicators suggest that gold was going ahead and that it
was due for a correction. one key indicator is the moving average of convergence/divergence, which is
also known as MACD, and on a weekly basis the MACD and Parabolic SAR are indicating that the
next move for gold will be up. The gold now look moving toward the 27800 level in near Future. The
Important Levels for Gold as per Technical Indicators is 27287 is Down side and 28120 is Upside.
Monday, 02 January 2017