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Commodity Research Report 23 January 2017 Ways2Capital.pdf

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BULLION METALS OUTLOOK GOLD - MCX Gold may witness choppy trade in line with international price but bias may remain
weak. COMEX gold trades in a narrow range near $ 1320/oz ahead of US GDP data and Fed Chair
Janet Yellen's comments. Market players are looking at US economic data and Fed's stance to gauge
possibility of Fed's interest rate hike. Gold has already corrected in last few days in anticipation that
Fed Chair Yellen may express optimism about US economy and prospect of rate hike. If Yellen
maintains this stance we may not see much price reaction. However, if Yellen gives clear signs that
imminent rate hikes are unlikely then gold price are set to see some recovery. Ahead of US data and
Yellen's speech we expect gold price to be rangebound to negative. The Gold is Expected to trade in
the Range of 27960-28925 in next week trading Sessions.


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 27965 is Down side and 28925 is Upside.

Monday, 23 January 2017