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Published on 21/05/2019 10:41:02 AM | Source: Kedia Commodity Ltd

Sell Gold Jun 2019 @ 31650 SL 31780 TGT 31500-31350.MCX - Kedia Commodities

Posted in Commodities Reports| #Kedia Commodity Ltd #Commodity Tips

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Gold 

Gold trading range for the day is 31228-31834.

Gold prices fell as strong U.S. economic data underpinned the dollar, boosting its safe-haven status over gold amid political and trade tensions.

U.S. consumer sentiment jumped to a 15-year high in early May amid growing confidence over the economy's outlook, data showed.

Hedge funds and money managers also raised their net long positions in COMEX gold in the week to May 14, the U.S. Commodity Futures Trading Commission (CFTC) said.

Gold was sold at a discount in the week in India for the first time in 2-1/2 months as higher prices deterred jewellers and retail buyers.

SELL GOLD JUN 2019 @ 31650 SL 31780 TGT 31500-31350.MCX


Silver

Silver trading range for the day is 35957-36657.

Silver dropped as the U.S. dollar surged following the release of data that showed U.S. consumer sentiment was at a 15-year high.

Reports that China’s state-run media expressed impatience over the progress of trade negotiations with Washington also supported the dollar.

Pressure also seen after the U.S. officially announced that it would delay a decision on imposing tariffs on imports of cars from Japan and European countries.

The University of Michigan’s consumer sentiment index in May climbed to 102.4, a 15-year high, from April’s reading of 97.2.

SELL SILVER JUL 2019 @ 36400 SL 36550 TGT 36180-36000.MCX

 

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