Gold Silver Reports (GSR) – MCX Silver Strong Support Level 39070, Buy on Dips Target 40100—40525. Silver on MCX settled down 0.8% at 39503 as investors turned to riskier assets on optimism over the outcome of US-China trade talks. Investor sentiment slightly improved after White House adviser Kellyanne Conway told that U.S.
MCX Silver support at 39333 and below same could see a test of 39070 level, And resistance key is now likely to be seen @ 40100, a move above could see prices kissing @ 40525.
President Donald Trump wants to meet with his Chinese counterpart Xi Jinping “very soon.” President Donald Trump also told his supporters that his administration is working on “great deals on trade” and that he does not want China to have a hard time.
Gold Investors Await Fresh Move in US-China Trade Spat
Despite the positive comments from the U.S. side, hopes for a quick resolution don’t look too promising, with U.S. negotiators pressing China on longstanding demands, including reparations for alleged theft of U.S. intellectual property.
The lack of a planned meeting before the deadline between the two presidents has also dampened hopes for a successful trade deal. Trump said last week he did not plan to meet his counterpart Xi Jinping before a March 1 deadline to achieve a trade agreement.
MCX Gold Strong Support @32900 – Neal Bhai
China needs that deal by March 1 or risk having tariffs on $200 billion of imports raised to 25% from 10%.Looking ahead, investors are now focussed on the new round of trade talks between China and the United States that started in Beijing.
