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| Buy Precious metals |
Precious metals – both gold and silver have been trading in
green on MCX and international markets. International precious metal market was
seen trading at lower ranges since past two months and suddenly we saw a sharp
increase in gold prices.
With increasing investments in gold bullion due to concerns
about decline in China’s economic growth amid ongoing trade war and signs of
tighter monetary policy by US Federal reserve, it is expected that precious
metals will be seen trading in green. Analyst and online trading brokers are
positive about the market and recommending to buy precious metals.
Amid global tensions and decline in Indian rupee, it is
quite evident that we could see gold bullion trading in green this week. Silver
has also been trading in green and it price is expected to touch 41000 on MCX
by end of this month.
Spot Gold market was up 0.3 percent with Gold rising 1.3
percent last week. This was its biggest weekly percentage gain in last 2
months.
The international precious metal market also got support and
we saw Gold futures were up 0.2 percent.
Most Asian market slipped and this also gave a lot of
support to precious metal market
With most traders looking at positive fundamentals in the
market, precious metal market is expected to be supported by positive sentiment
in the market.
With slips in Asian markets, Gold has been appealing and has
regained trust of investors.
Gold remains supported by escalating geopolitical
tensions... Adding to the mix is the thought the FOMC may consider pausing
their widely expected rate hike in December if global equity markets continue
to falter," said Stephen Innes, APAC trading head at OANDA in Singapore.
Looking at current fundamentals and sentiments, I would
advise to buy precious metals for long terms as well short term.
Buy Gold bullion at 32059 for target of 32250 and SL of
31050. For positional traders, hold and keep adding on any dips. I expect Gold
bullion to touch 33000 by end of this month.
Buy Silver at 39200 for target of 40000 in upcoming sessions.
Fall in INR would also support prices on MCX. Buy Silver on dips
Above trading strategies are for short-term and long-term
traders.
Please read our disclaimer before investing
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