Indian Goldman Neal Bhai Reports : Gold (Feb) Upside Resistance Level 30170

Gold Silver Reports – Indian Goldman Neal Bhai Reports : Gold (Feb) Upside Resistance Level 30170 — Technically MCX Gold is under long liquidation as market has witnessed-drop in open interest by -13.93% to settled at 3727 while prices down -8 rupees.

Indian Goldman Neal Bhai Reports

Gold MCX is getting supportkey at 30000 and below same could see a test of 29780 level, And resistancekey is now likely to be seen at 30170, a move above could see prices testing 30470

Gold dropped as the dollar strengthened, while traders awaited a U.S. Federal Reserve policy meeting for cues on interest rate hikes this year.

President Donald Trump said in his State of the Union address to the U.S. Congress that he wants lawmakers to support the “right to try” for terminally ill patients to try experimental therapies not approved by federal authorities.

“It is time for the Congress to give these wonderful Americans the ‘right to try,’” Trump said.

Legislation along these lines was approved by the Senate in August by a vote of 94-1. It was designed to give terminally ill patients access to unapproved medications and to provide immunity for physicians willing to administer the treatments.

Investors await the Federal Reserve to reveal its decision on monetary policy and insights into the pace of US economic growth and inflation, rising US bond yields continued to pressure gold prices, as the precious metal remained on track to post its first two-day loss in three weeks.

SPDR Gold Trust the world’s largest gold-backed exchange-traded fund, said its holdings fell 0.14 percent to 845.49 tonnes on Tuesday from 846.67 tonnes on Monday.

Swiss gold exports fell last year to their lowest since the records became public in 2012, while imports slipped to their weakest since 2014. – Neal Bhai Indian Goldman

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Neal Bhai has been involved in the Bullion and Metals markets since 1998 – he has experience in many areas of the market from researching to trading and has worked in Delhi, India. Mobile No. - 9899900589 and 9582247600

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