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Gold: October 31 review
US Fed reserve cut its rate to 0.25 basis points of 1.50% to 1.75% yesterday.
As per latest uncertainty in Chile also given slightly impact for precious metals like Gold and Silver.
Gold prices made a low almost $1483.45 range yesterday after release Fed data and washed out all profit yesterday. Traders also keep an eye continue to $1500 in Gold today.
We will expect some positive news this week regarding US-China trade deal.
Gold futures, December contract traded $1500.00 range, +0.22% up at early European hours.
All Asian and European futures traded flat to positive today and before Europe bell rang, US dollar index futures, December contract traded $97.150 range, -0.33% down against all major currencies.
Expectation of profit booking in Hedge funds like Gold and Silver in this week.
Entry point – $1501.50 – $1504.50
And keep R1 $1512.00
And wait S1 $1485.00
And wait S2 $1481.00
And wait S3 $1474.00
