SATURDAY
MARKET RECAP
MARKET RECAP
Gold ended flat on Thursday as compared to
Wednesdays close .
It ended at
a 4 th weekly loss in a row in the back
of a jump in
retail sales figure which
helped dollar
to
strengthen .
Gold closed
at $ 1275.50 .
Gold saw
little decline on Thursday due to retreat in bond yield .
Positive
development on the US China trade talks also putting
pressure on Gold prices .
In the Mcx
Gold near low 31463 .
Weekly
Recap
Monday April 15 th
Gold
opened at $ 1291.10
but started trading below
the support of $ 1290 .
Selling pressure continued through the European
session
and the start of the US session hitting a low of
$ 1282.40 .
The NY
index State Manufacturing data was positive but
6 month outlook fell to a 3
month low .
Briefly
gold prices went up hitting a high of $ 1292.
It could
not hold on to its gain .
Even though
the news of FED not increasing the interest rates
were there , the surging 10 year yield
added
pressure on the gold prices .
In the Mcx
Gold opened at 31800 .
During the
evening session hit a low of Rs 31680 ,
traded below support 31700 .
But
recovered at close to close at 31856 .
Tuesday
April 16 th
Gold prices
opened at $ 1287.70.
The rising
US 10 year yield put pressure on gold prices
and it broke the support of $ 1280
.
It hit a
low of $ 1272.80 but closed marginally higher at $ 1276 .
There was
heavy selling seen in gold.
In the MCX
Gold opened at Rs 31800 .
Broke all
supports and broke tge support of 31600
to hit a low of Rs 31523.
It Closed
at Rs 31548.
Wednesday
April 17 th
Gold opened
at $ 1276.60 .
Never managed to cross the resistance of $ 1280 .\
High was
only $ 1279.80
There was
positive data from China which lessened
worries about global economic
growth
.This put more pressure on Gold prices .
In the Mcx
Gold opened higher at 31648.
It could
not break these levels .
It broke the crucial support of 31500 to hit a low
of
31453 before closing
at 31480 .
Thursday
April 19 th
Gold opened
at $ 1274 .
Gold prices
touched their lowest level this year as
economic data drove investors to riskier assets.
Asian
shares rose to a 9 month high but the Good Friday
and the Easter holidays kept traders away.
Chinas
economy grew at a steady 6.4 % and industrial
production rose sharply and
consumer
demand showed signs of improvement .
In the Mcx
Gold opened at Rs 31450 .
Briefly
rose after European markets opened
hitting a high of Rs 31616 .
It Fell
sharply hitting a low of Rs 31403
before closing at 31463 .
Will
keep updating technical levels .
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If you need any technical levels you can ask us there .
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