Technical Power of CFA’s
(CHARTRED FINANCE ANALYST)
“No Magic, No Miracle, Just Power of Level”
Neal Bhai Reports (NBR) By CFA’s and MFA’s Technical Team
Mobile No. 9582247600 & 9899900589
A sell off in the U.S. dollar index today also worked in favor of the precious metals market bulls. December gold futures were last up $2.20 an ounce at $1,201.30. December Comex silver was last up $0.035 at $14.215 an ounce.
Global trade worries and the potential drag on the major economies of the world are somewhat weighing on equities markets this week. However, the matter has not produced much safe-haven demand for the metals at all. Instead, metals traders appear more worried that any economic weakness from the trade disputes could mean less demand for the metals. The U.S. and Canada are deadlocked on trade negotiations, while there are concerns the U.S. will slap more trade sanctions on China.
