Gold - September 07 review
Before Europe open, Gold futures, Dec contract was traded below $1703.15 range today at 0422 BST. Gold prices was continue down from yesterday's high due to Fed fund's rate hike expectations.
Energy prices in Europe droves up, as a result of safe heaven demand likes Gold and Silver prices was rise at early European hours. Gold prices was made a [email protected] range yesterday. More than +$37 dollar rise compared to last week's low. But all profits was washed away after the Gold made a high yesterday.
UK's new PM Liz Truss has drafted plans to freeze energy bills for households. EU's energy ministers will meet on next Friday. So the prices of Gas demands will be sky rocketed today.
On the other side, US Dollar Index was traded $110.620 range, up +0.69% range at early Asian hours. At this time of situations, US Dollar and Gold prices was traded inversely effects.
Expectations of profit booking in Gold and Silver before European open. and we will expect continue rising demands for Hedge funds like Gold and Silver.
Intraday and Weekly trading strategy for Gold.
Buy Gold at cmp $1699.00-$1704.00 range
and keep SL $1678.40(Support Level - July 21 low)
and wait TGT1 $1737.10(Yesterday's High)
and wait TGT2 $1747.00
and wait TGT3 $1757.85(Last week's High)
Before Europe open, Gold futures, Dec contract was traded below $1703.15 range today at 0422 BST. Gold prices was continue down from yesterday's high due to Fed fund's rate hike expectations.
Energy prices in Europe droves up, as a result of safe heaven demand likes Gold and Silver prices was rise at early European hours. Gold prices was made a [email protected] range yesterday. More than +$37 dollar rise compared to last week's low. But all profits was washed away after the Gold made a high yesterday.
UK's new PM Liz Truss has drafted plans to freeze energy bills for households. EU's energy ministers will meet on next Friday. So the prices of Gas demands will be sky rocketed today.
On the other side, US Dollar Index was traded $110.620 range, up +0.69% range at early Asian hours. At this time of situations, US Dollar and Gold prices was traded inversely effects.
Expectations of profit booking in Gold and Silver before European open. and we will expect continue rising demands for Hedge funds like Gold and Silver.
Intraday and Weekly trading strategy for Gold.
Buy Gold at cmp $1699.00-$1704.00 range
and keep SL $1678.40(Support Level - July 21 low)
and wait TGT1 $1737.10(Yesterday's High)
and wait TGT2 $1747.00
and wait TGT3 $1757.85(Last week's High)