Neal Bhai Get our expert opinion on short term outlook on commodities based on technical analysis. Weekly commodity insights and forecast.
February 8, 2016 4:52 am Written this : https://goldsilverreports.com/gold-silver/spot-gold-above-1174-50-this-level-target-1191-1203-gsr.html
Neal Bhai Reports ~ Base metals may remain sideways as China markets are closed due to lunar year holidays. Copper maytrade in range
Gold Silver Reports ~ Aluminium settled up 0.38% at 104.45 as a weaker dollar sparked investor demand for the industrial metal and drove bearish traders out of the market.
Financial speculators in metal such as hedge funds have been strongly bearish on the market since early November, amid signs of weakening economic growth around the world. Some of the market’s gains in recent days likely have been fueled by traders closing out short positions that profit from falling prices as the market has rallied against them.
Gold Silver Reports ~ Lead MCX tumbled sharply in the beginning of January. However, it posted a positive daily close after seven consecutive negative sessions and entered a pull-back mode.
Gold Silver Reports ~ Jeera NCDEX continue to fall down last week due to limited demand for the old season crop. Moreover, good weather in sowing states, sufficient carryover stocks with local traders and weak export demand at higher levels also weighs on price. Jeera Mar’16 contract fall 1.5 per cent to close at Rs. 13,395 per quintal.
Gold Silver Reports ~ NG Prices today moved down after showing some meager gains yesterday. Today, DoE data is scheduled,
Gold Silver Reports — Gold initially hit the target 1116/18 & topped exactly here as expected, dipping to the first support at 1107/1109 & bottomed exactly here.
Gold Silver Reports ~ Have we reached peak precious metals? Many analysts think so.Just to be clear, however, the idea of peak gold and peak silver doesn’t refer to a peak prices. The precious metals put in a cyclical price high in 2011. But annual mining production levels may have peaked in 2014-2015. This is what is meant by “peak precious metals.”
