At the time of writing this report gold -0.72% prices are down and trading at around $1214 and silver -0.28% prices are sharply lower trading at $14.12 which implies that our short-term position is going quite well in white and yellow metal-as we witnessed when the U.S Dollar index jumped to it's daily high so as the P.Ms started to decline, another factor which contributes to the decline is the sharp fall in crude oil prices which already hit its 13month low, However OPEC meeting is fixed for the next week-
The important thing to understand here is that the U.S CHINA Trade war is very bearish for the gold and silver and as Trump has already made negative comments on this matter on Monday market is not expecting any improvement in the situation-the U.S CHINA Trade war is also a factor which is contributing to The U.S dollar bullish movement
most important fundamentals
-Reports suggest that due to cybersecurity risks U.S is thinking to take some harsh action for a Chinese technology firm and may even suspend this firm for future trades which implies that The U.S- China trade war has no improvement-(Many investors and portfolio managers were looking into this matter especially gold-bulls as improvement in the U.S-China trade war would have a major impact( Bullish ) for precious metals sector.U.S. President Trump and Chinese President Xi are scheduled to meet face-to-face in Argentina next week- The important thing to understand here is that the U.S CHINA Trade war is very bearish for the gold and silver and as trump has already made negative comments on this matter on monday market is not expecting any imporovent in the situtation-the U.S CHINA Trade war is also an factor which is contributing to The U.S dollar bullish movement
we need to see the fed cutting or pausing the interest rates hike which will ultimately drive the precious metals prices higher but as we already know fed rate hike seems not to stop very soon-Markets are expecting fed to raise rates in December and two another rates hikes next year, however, this expectation has been cut in half as previously market expectation was four rate hikes in the next year,Negative sentiment can also be seen in futures markets as bearish speculative positioning continues to dominate the precious metals
-Italy said it would not accept the pressure receiving from Brussels to review its big-spending budget, however EU countries are trying to make a poll regarding Italy budget and this poll will decide whether EU authorities will punish Italy with fines or not-
Technicals-Our two position are in gold and silver are already running in profits, however, we believe buyers should be very cautious at this point as we believe 1200 level will be easily broken and there is not much support until 1180. Gold -0.73% -0.07% -0.37% 0.17% 0.69% likely will not be able to support around its psychological level if the U.S Dollar keeps rising and there are numerous factors which are suggesting the future dollar strenth-The declined started in Asia-pacific trade after it went below the 100 days moving average at last week
overall it seems that position in gold -0.73% -0.07% -0.37% 0.17% 0.69% and silver -0.14% -0.14% -0.35% 0.49% 0.57% will be highly profitable in coming weeks-we are very bearish for the precious metal sector and we think the downfall has just been started.
existing positions
Currency Pair: XAUUSD -0.61% ( Gold -0.74% )
Sell Stop Entry Price:1220
Take Profit: 1180
Stop Loss:1240
Capital Risk:2000USD(amount may vary depending on your account size and risk tolerance)
Potential Reward: 4000USD
Risk/Reward: 1:2
(we can adjust (limit, close or even reverse) the position before this price level is reached)
Should you require any more information don't hesitate to contact us.
Many regards,
Short term Trades
Currency Pair: XAG -0.83% .USD( silver -0.21% )
Sell Entry Price: 14.500
Take Profit: 14.000
Stop Loss: 15.00
Capital Risk: 2000USD-(amount may vary depending on your account size and risk tolerance)
Potential Reward: 2000USD
Risk/Reward: 1:1
(we can adjust (limit, close or even reverse) the position before this price level is reached)
The important thing to understand here is that the U.S CHINA Trade war is very bearish for the gold and silver and as Trump has already made negative comments on this matter on Monday market is not expecting any improvement in the situation-the U.S CHINA Trade war is also a factor which is contributing to The U.S dollar bullish movement
most important fundamentals
-Reports suggest that due to cybersecurity risks U.S is thinking to take some harsh action for a Chinese technology firm and may even suspend this firm for future trades which implies that The U.S- China trade war has no improvement-(Many investors and portfolio managers were looking into this matter especially gold-bulls as improvement in the U.S-China trade war would have a major impact( Bullish ) for precious metals sector.U.S. President Trump and Chinese President Xi are scheduled to meet face-to-face in Argentina next week- The important thing to understand here is that the U.S CHINA Trade war is very bearish for the gold and silver and as trump has already made negative comments on this matter on monday market is not expecting any imporovent in the situtation-the U.S CHINA Trade war is also an factor which is contributing to The U.S dollar bullish movement
we need to see the fed cutting or pausing the interest rates hike which will ultimately drive the precious metals prices higher but as we already know fed rate hike seems not to stop very soon-Markets are expecting fed to raise rates in December and two another rates hikes next year, however, this expectation has been cut in half as previously market expectation was four rate hikes in the next year,Negative sentiment can also be seen in futures markets as bearish speculative positioning continues to dominate the precious metals
-Italy said it would not accept the pressure receiving from Brussels to review its big-spending budget, however EU countries are trying to make a poll regarding Italy budget and this poll will decide whether EU authorities will punish Italy with fines or not-
Technicals-Our two position are in gold and silver are already running in profits, however, we believe buyers should be very cautious at this point as we believe 1200 level will be easily broken and there is not much support until 1180. Gold -0.73% -0.07% -0.37% 0.17% 0.69% likely will not be able to support around its psychological level if the U.S Dollar keeps rising and there are numerous factors which are suggesting the future dollar strenth-The declined started in Asia-pacific trade after it went below the 100 days moving average at last week
overall it seems that position in gold -0.73% -0.07% -0.37% 0.17% 0.69% and silver -0.14% -0.14% -0.35% 0.49% 0.57% will be highly profitable in coming weeks-we are very bearish for the precious metal sector and we think the downfall has just been started.
existing positions
Currency Pair: XAUUSD -0.61% ( Gold -0.74% )
Sell Stop Entry Price:1220
Take Profit: 1180
Stop Loss:1240
Capital Risk:2000USD(amount may vary depending on your account size and risk tolerance)
Potential Reward: 4000USD
Risk/Reward: 1:2
(we can adjust (limit, close or even reverse) the position before this price level is reached)
Should you require any more information don't hesitate to contact us.
Many regards,
Short term Trades
Currency Pair: XAG -0.83% .USD( silver -0.21% )
Sell Entry Price: 14.500
Take Profit: 14.000
Stop Loss: 15.00
Capital Risk: 2000USD-(amount may vary depending on your account size and risk tolerance)
Potential Reward: 2000USD
Risk/Reward: 1:1
(we can adjust (limit, close or even reverse) the position before this price level is reached)
