Gold: September 24 review
What next for Gold: Trade hopes or Global Fears
Gold futures, December contact traded $1531.00 range, down -0.03% at early European hours.
All Asian and European stocks traded positive due to hopes of US-China trade talk in next month. Dow 30 futures, traded +82 points, up 0.32% at early European sessions.
US treasury secretary Mnuchin confirmed that US-China trade talks will confirmed in next month. And it will be given direct negative signals for safe heaven demands and Japanese Yen.
Silver futures, December contract traded $18.808 range and reached almost two week’s high today (+5% up trend yesterday). And we will hope that profit booking in precious metals will come very soon.
For intraday and weekly strategy for Gold:
Entry Point – $1531.00-$1533.50 range
And keep R1 $1539.90
And wait S1 $1515.00
And wait S2 $1510.00
And wait S3 $1502.00