MCX Gold

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MCX Silver Short Covering Strong Support level @39440 Hint By Neal Bhai MFA Technical Analyst

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MCX Silver Above 39200 Level - Ultimate Target 41800— 42220

Gold Silver Reports (GSR) – MCX Silver Short Covering Strong Support level @39440 Hint By Neal Bhai MFA Technical Analyst – The monthly decline in factory orders is likely to be temporary amid reports of strong manufacturing conditions in May. Investor morale in the euro zone deteriorated for the fifth month in a row in June to its lowest level since October 2016, hit by concerns about an anti-establishment government taking power in Italy and a trade dispute with the US. Key factors to watch today include China Caixin services purchasing managers’ index (PMI) in May, Eurozone retail sales in April and US ISM nonmanufacturing PMI in May.               

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Gold Spot Fails to Break Upside Hurdle $1308 Level

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Gold Spot Fails to Break Upside Hurdle $1308 Level

Gold Silver Reports (GSR) – Gold Spot Fails to Break Upside Hurdle $1308 Level – Gold managed to temporarily break above trendline resistance, but with the inability to push above the $1307 mark, there is still a strong chance of near-term downside to build on the weakness seen over the past month.          

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MCX Silver Buy on Dips Expected Trading Zone 37333—38888, Goldman Neal Bhai Reports

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Gold Silver Reports – MCX Silver Buy on Dips Expected Trading Zone 37333—38888 — Silver on MCX settled down -1.24% at 37963 as the dollar continued to advance amid a sharp uptick in Treasury yields. Much of the dollar’s advance stemmed from euro’s weakness in the wake of reports that the leader of Germany’s Social Democrats (SPD), Martin Schulz, would not be taking over as finance minister for Europe’s biggest economy .

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