GOLD SETTLE $ 1553 UP BY $ 5.00
The market place moved into a more “risk-off” trading mode as the day wore on Thursday. Trading on Friday will be extra important for many markets, including the precious metals, heading into a three-day U.S. holiday weekend.
CME Group is cutting margins for gold futures, the exchange announced late Thursday.
The new rates will be effective after the close of business on Tuesday, CME Group said. The exchange operator also announced margin changes for a number of other markets, mostly lower, including reduced margins for crude oil, gasoline, lean hogs and lumber. For the main 100-ounce gold contract on the Comex division of the New York Mercantile Exchange, the initial margin for new speculative positions will fall to $9,113 from $10,125.
Technically gold trading in range $ 1525-$1600, traders to advise use lower side as buy and higher as sell oppertunity with proper stop loss. For today $1562-65 will re-act as resistence and $1535-40 as support.
TODAY LEVEL
RESISTENCE #2............................$ 1586
RESISTENCE #1............................$ 1573
PIVOT............................................$ 1563
SUPPORT #1.................................$ 1549
SUPPORT #2.................................$ 1535
MCX
RESISTENCE #2............................INR 29190
RESISTENCE #1............................INR 29040
PIVOT............................................INR 28940
SUPPORT #1.................................INR 28800
SUPPORT #2.................................INR 28700
Happy trading
Rahul Kumar
Gold Analysist
Call me : 969-0022-884
The market place moved into a more “risk-off” trading mode as the day wore on Thursday. Trading on Friday will be extra important for many markets, including the precious metals, heading into a three-day U.S. holiday weekend.
CME Group is cutting margins for gold futures, the exchange announced late Thursday.
The new rates will be effective after the close of business on Tuesday, CME Group said. The exchange operator also announced margin changes for a number of other markets, mostly lower, including reduced margins for crude oil, gasoline, lean hogs and lumber. For the main 100-ounce gold contract on the Comex division of the New York Mercantile Exchange, the initial margin for new speculative positions will fall to $9,113 from $10,125.
Technically gold trading in range $ 1525-$1600, traders to advise use lower side as buy and higher as sell oppertunity with proper stop loss. For today $1562-65 will re-act as resistence and $1535-40 as support.
TODAY LEVEL
RESISTENCE #2............................$ 1586
RESISTENCE #1............................$ 1573
PIVOT............................................$ 1563
SUPPORT #1.................................$ 1549
SUPPORT #2.................................$ 1535
MCX
RESISTENCE #2............................INR 29190
RESISTENCE #1............................INR 29040
PIVOT............................................INR 28940
SUPPORT #1.................................INR 28800
SUPPORT #2.................................INR 28700
Happy trading
Rahul Kumar
Gold Analysist
Call me : 969-0022-884
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