CAPITALSTARS MCX COMMODITY GOLD NEWS UPDATE : : 29 August 2019
Precious Metals Preview: Gold prices climbed up on Thursday
Bullion counter may remain on upside path. Gold prices climbed up on Thursday, as fears of an economic slowdown continued, amid the protracted Sino-U.S. trade conflict and expectations of monetary stimulus, keeping the safe-haven metal in demand. The U.S. Treasury yield curve remains inverted, which is commonly considered a sign of an impending recession. On Wednesday, underscoring the gloomy global sentiment, yields on 30-year U.S. Treasuries and 10-year German bunds hit record lows. The U.S. Federal Reserve and the European Central bank are expected to cut rates next month, while many investors believe the Bank of Japan could also join the fray if market sentiment weakens further. Gold (Oct) can move with upside path as it can test 39400 while taking support near 39000 while silver(Sep) can rise towards 47300 while taking support near 46500. The Trump administration on Wednesday made official its extra 5% tariff on $300 billion in Chinese imports and set collection dates of Sept. 1 and Dec. 15
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