Gold Forecast

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

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.

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