US employment data has pushed bullion
prices to downside. The report say, 195,000 new jobs has been added
on payroll last month which is way better than what was expected.
On Friday, gold spot prices fell 2%
followed by 0.30% decline to reach $ 1219.31/Ounce.
On MCX, Gold august contract is trading
below 26000 level and heading towards the nearest support line of
25850. A breach through this level would stimulate the downside
objective and this yellow metal may suffer a down trend till 25500.
However strong trades above 26200 can help Gold to pick up the upside
momentum up to 26300-26500.
Silver can be a buying bet above 40130
for the targets of 40250-40320. Keep strict stop loss to avoid
unpredictable losses.
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