Gold: October 16 review
Gold prices traded flat to negative mode at early US hours after made a weekly [email protected] range yesterday.
Traders also keep an eye on latest update regarding trade war tensions between world’s two largest economies. They are not decided the tariff rate decision.
Dow 30 futures, traded -50 points, down -0.20% at early US hours.
US Dollar Index futures, December contract traded $98.015 range, down -0.02 at early hours and made a last 7days [email protected] range today.
At this time of uncertainty between leading economies, traders always buy hedge funds like Gold, Silver, Yen and Swiss Franc.
By 7.30AM ET, Gold futures, December contract traded $1483.50 range, up +0.01%.
Before US open, make intraday long positions in Gold and Silver.
Entry point – $1483.50-$1481.00 range
And keep S1 $1472.00
And wait R1 $1502.90
And wait R2 $1507.50
And wait R3 $1514.00