Gold: October 01 review
Yesterday’s US administration news regarding not disrupted US-China capital flows. And solid performance by US tech giant Apple and Microsoft also given positive signals for US Dollar.
According to officials, Last week’s, to delist Chinese companies at US stock exchanges was a fake report. It was also given support for sharpfall in Gold and Silver yesterday.
US Dollar index, against a basket of six major currencies traded, 99.210 range, up +0.18 at early European hours.
Hedge funds like Gold and Silver and Dollar traded inversely effect at this type of situations.
Gold futures, December contract traded, $1467.00 range, down -0.40 range at early European hours and traded almost 2 week low.
Expectation of profit booking will come very soon in precious metals.
Intraday and BTST strategy for Gold and Silver:
Entry point – $1467.00-$1465.00 range
And keep S1 $1455.00
And wait R1 $1482.00
And wait R2 $1486.00
And wait R3 $1492.50