Gold: September 27 review
Dow 30, futures traded slightly positive, +65 points, up +0.25% at early US hours.
Due to yesterday’s political drama, we will expect more down trend today in US stocks.
As we know, US-China trade talk will set on Oct 10 in Washington which will give negative sign for precious metals. But today’s BoE official warned that economy may need more interest rate if Brexit happen.
Due to Euro effect, all European economy should worse effect including Germany, Italy and Spain also.
At that Global Fears, Traders always will buy Hedge funds like Gold and Silver.
Gold futures, December contract traded $1497.50, down -1.10% range at early US hours.
Intraday strategy for Gold:
Entry point – $1499.00-$1497.00 range
And keep S1 $1489.50
And wait R1 $1515.00
And wait R2 $1519.00
And wait R3 $1525.00