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Investment Guru India 2019-06-12 10:33:45

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Gold

Gold trading range for the day is 32389-32827.

Gold held steady as Washington’s fresh trade threats against China eclipsed investor optimism spurred by a U.S.-Mexico deal.

Markets took heart from a deal between the United States and Mexico to avert yet another tariff war late last week.

U.S. President also warned that if a portion of the U.S.-Mexico deal, which requires ratification by Mexican lawmakers, was not approved, “tariffs will be reinstated”.

Investor appetite for risk was kept in check after Trump renewed his tariff threats towards China.

BUY GOLD AUG 2019 @ 32600 SL 32450 TGT 32750-32850.MCX


Silver

Silver trading range for the day is 36320-37036.

Silver gained buoyed by concerns around U.S.-China trade relations amid expectations of an interest rate cut by the U.S. Federal Reserve.

Data showing an unexpected growth in China's exports too contributed to the improvement in risk sentiment.

The JOLT from the Labor Department showed that US job openings slipped to a seasonally adjusted 7.4 million from 7.5 million in March.

China said its overall trade surplus stood at $41.65 billion in May, significantly more than expected as the trade impasse between Washington and Beijing drags on.

BUY SILVER JUL 2019 @ 36550 SL 36300 TGT 36850-37100.MCX

 

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