Just trade in the technical in the next two weeks. US April Jobs and FOMC are trend-changing factors. Any lack of bad news on the trade war front will result in a focus on the US economy, global economy, and interest rate stance of central banks.
A very small section of traders has started focusing on a 0.25% interest rate at the 18th June Federal Reserve meeting. The Federal Reserve chairman’s view on the earliest interest rate cut will be important. This is important as US President Trump wants an interest rate cut asap. The Federal Reserve chairman wants to balance interest rates and inflation.
Silver and Copper are bullish. There will be a very big wave of rise if silver and copper manage to trade over the closing price of 25th April till 9th May.
The intention to invest in dips is very high for gold, silver, and copper. India is expected to experience a cyclical period of high jewelry demand from April 28th to June 30th. Retail Indians will be using every big sale to buy gold/silver jewellery.
Why will the masses of Europe buy more and more physical gold and physical silver? The Kashmir terror killing last week in India should be an eye-opener to native European people. Terrorists killing people after asking their religion is something that can happen to native European people as well. Europe has been accepting Jihadi Johns very aggressively under Barack Obama and Joe Biden American presidency. Native Europeans could be next on the butcher list of Islamic terror organizations in Europe. Native Europeans will, next, be butchered in Kashmir-style mass killing. The Italian Prime Minister is the only voice opposing the influx of Islamic Jihadis in Europe. Europe's masses need to significantly increase investment in physical gold and physical silver as a hedge against rising Islamic terrorism. They need to vote out political supporters of Islamic migrants. “Secularism” is the word that native people of Europe need to erase from their mindset asap for the best of their future generations.
Intraday traders and jobbers trade very carefully. I will prefer to be extra cautious on my intraday trades in every asset class.
SPOT GOLD – current price $3292.50
TODAY’S VIEW: Spot gold has to trade over $3287.00 to rise to $3318.50, $3355.80 and more.
A mild sell-off will be there on a sustained fall below $3287.0.
A crash or another big sell-off will be there if spot gold trades below $3240.00 for a minimum of twenty-four consecutive hours.
Anything can happen zone is between $3240-$3265 zone.
Intraday remains on the sidelines and keeps on booking partial profits on all trades. No stop loss no trade for the next two weeks for gold traders.
Views are intraday.
Disclaimer
The investment ideas provided is purely independent view point and are solely for collective learning and for academic interests. There is no commercial benefit accruing or have deemed to accrue to me out of providing such investment ideas.
The investment ideas shared here cannot be construed as investment advice or so. If any reader is acting on these advices, they are requested to apply their prudence and consult their financial advisor before acting on any of the recommendations made here. I am not responsible to anybody in the event of profits and losses (if any) upon acting on such advice.
I hope that our reader is aware about this well aware of the risk involved in trading in commodity derivative trading.
Disclosure: I trade in India's MCX commodity exchange. I have open positions in India's MCX commodity future. I do not trade in CME future or OTC spot gold and spot silver.
NOTES TO THE ABOVE REPORT
ALL VIEWS ARE INTRADAY UNLESS OTHERWISE SPECIFIED
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PLEASE NOTE: HOLDS MEANS HOLDS ON DAILY CLOSING BASIS
PLEASE USE APPROPRIATE STOP LOSSES ON INTRA DAY TRADES TO LIMIT LOSSES.
THE TIME GIVEN IN THE REPORT IS THE TIME OF COMPLETION OF REPORT
ALL PRICES/QUOTES IN THIS REPORT ARE IN US DOLLAR UNLESS OTHERWISE SPECIFED.
ALL NEWS IS TAKEN FROM REUTERS NEWSWIRES.
TECHNICAL ANALYSIS IS DONE FROM TRADINGVIEW SOFTWARE
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