Gold Weekly Update : Bullion Trend Sideways, Trading Zone 50800 to 49500

Gold Weekly Update

Gold Weekly Update: The CFTC data showed that money managers have decreased their net long positions in gold by 9600 lots in last week. Silver prices traded lower with spot silver prices at COMEX plunged by 4.53% to $18.04 per ounce for the week. MCX Silver December futures declined by 3.91% to Rs 52637 per KG for the week. Silver prices traded down on demand worries over China economic growth and stronger dollar. The CFTC data showed that Money managers have increased their bearish silver bets by 5,425 net-short positions to 21,059 to three year high.

Continue …

Gold Weekly Update

Gold (Yellow Metal) Eyes Crucial Resistance Key at $1,852

Gold Mines

Gold (Yellow Metal) Eyes Crucial Resistance: “The negative impact of the disappointing US labour market data is still being felt in the markets on Monday with the US Dollar Index slumping to its lowest level since late February near 90.00. Moreover, the benchmark 10-year US T-bond yield stays in the negative territory at 1.579% at the time of press, helping gold continue to find demand.”

Continue …

Gold Mines