Bullion Report 26 Aug 2020

Bullion Report 26 Aug 2020

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Gold

Range: 50800 – 52400

Our Preference: Buy Gold 50825+ for target 51600 & 52400 with SL only below 50600

Technical View:

  • Gold low of 38400 on 16th March 2020 – life time High 56191 on 7th August 2020
  • A rally of 17791 Rs in MCX Gold where 1st correction complete @ 50825.
  • So it shows a buy should initiated from this price for target 52400.
  • Any down side will activate only below 1910$ & 50600 in COMEX & MCX respectively.

Alternative Scenario: Sell Gold below 50590 for target 49950  & add more below 49800 for pretty down with SL 50800+

  • As per Previous report Gold sell was given below 51600 for target 50800 where low 50825

COMEX Gold Future

Range: 1920 – 1993

Our Preference: Buy Gold 1920$ for target 1951$ & 1993$ with SL only bellow 1910$

This call has already given on 20th AUG 2020 report & still again the same will apply.

Silver (Expiry Date on 31st Aug 2020)

Range: 61800 – 66250

Our Preference: Silver sell 66250 for target 62800 with SL 67000+

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