WEEKLY COMMODITY REPORT 16 MAY 2016 TO 20 MAY 2016

Weekly Support & Resistance for GOLD

Resistance: 30500-31200

Pivot: 30100

For More Information Visit

www.capitalheight.com/bullion-premium.php

Support: 29500-29300 

GOLD traded in sideways last week in the range of 29600-30300.Buying from lower levels and weak dollar index give strength to gold prices. For the next week major US economic data like CPI, Unemployment claims and fed minutes are the main key events. Gold may be trade in the range of 29600-30200 trading below 29600 will lead to down side to 29200-29100.

Silver: last week silver traded in range 40500-41800 Silver may see some profit booking below 40500 till 40000-39700.

Accurate Live Mcx Bullion Premium News

            www.capitalheight.com/bullion-premium.php

                                                              Call    9993066624

FUNDAMENTALS

• Gold held sharp overnight gains on Wednesday as soft global economic data and a tumble in equities sent investors scurrying towards the safe-haven metal.
• Spot gold eased 0.2 percent to USD 1,228.30 an ounce by 0040 GMT on profit taking.
• Bullion rose along with other safe-haven assets such as the Japanese yen as economic data out of Europe and the United States prompted a retreat from riskier assets.
• SPDR Gold Trust , the world's largest gold-backed exchange-traded fund, said its holdings fell 0.28 tonnes to 815.44 tonnes on Tuesday.
• MCX Copper closed at Rs 315.05 per kg on 5 April 2016 sharply lower from Rs 314.40 per kg on 4 April 2016.
• Zinc futures tumbled in the domestic market on Tuesday as investors and speculators exited positions in the industrial metal amid weak physical demand for zinc in the domestic spot market.
• Gold futures regained sheen on Tuesday as a renewed global stock rout and falling oil prices.