Gold - September 20(Intraday and STBT analysis)
Gold prices was slightly recovered today after made a low $1661.90 range on last Friday. Gold and Silver prices were traded in tight range in week.
Before FED rate hike decisions, pressure in Hedge funds like Gold and Silver continue today. Analyst is widely expected to raise rates by 75 basis points bps on Wednesday, although some analyst are also pricing in the possibility of a surprise 100 bps hike. At this type of confusion situations, Yellow metals prices will be volatile in this week.
In last week, we showed that U.S. inflation stuck to near 40-year highs in August. The reading had boosted the dollar and spurred extended losses in metal markets. and Gold prices was reached almost three years low in last week. And the other precious metals like Silver, Platinum and Palladium prices were recovered from recent losses.
Gold futures, December contract was traded $1686.25 range +0.38 up at early European hours. All Asian markets were traded flat to positive today due to global trend upwards, although sentiment remains fragile ahead of the start of the U.S. Federal Reserve’s two-day policy meeting. While on the other side, US Dollar Index prices was made a continue high today and prices reached $109.495 range at early European Sessions. Gold and US prices traded inversely effect at this type of situations.
For trading point of view in Gold, we were also seen the price of Gold/Silver Ratio. Gold/Silver ratio was also down more than -10.00% since the start of this month. and prices was traded $86.50 range before Europe opens.
Traders will expect as a series of sharp interest rate hikes by the Federal Reserve drove up the dollar and saw investors seek better yields in the greenback and Treasuries.
Intraday and STBT trading strategy for Gold.
Sell Gold at cmp $1686.00-$1691.00 range(Dec-future)
and keep SL $1700.00
and wait TGT1 $1669.00
and wait TGT2 $1661.90(Last Friday's Low)
and wait TGT3 $1650.00.
Gold prices was slightly recovered today after made a low $1661.90 range on last Friday. Gold and Silver prices were traded in tight range in week.
Before FED rate hike decisions, pressure in Hedge funds like Gold and Silver continue today. Analyst is widely expected to raise rates by 75 basis points bps on Wednesday, although some analyst are also pricing in the possibility of a surprise 100 bps hike. At this type of confusion situations, Yellow metals prices will be volatile in this week.
In last week, we showed that U.S. inflation stuck to near 40-year highs in August. The reading had boosted the dollar and spurred extended losses in metal markets. and Gold prices was reached almost three years low in last week. And the other precious metals like Silver, Platinum and Palladium prices were recovered from recent losses.
Gold futures, December contract was traded $1686.25 range +0.38 up at early European hours. All Asian markets were traded flat to positive today due to global trend upwards, although sentiment remains fragile ahead of the start of the U.S. Federal Reserve’s two-day policy meeting. While on the other side, US Dollar Index prices was made a continue high today and prices reached $109.495 range at early European Sessions. Gold and US prices traded inversely effect at this type of situations.
For trading point of view in Gold, we were also seen the price of Gold/Silver Ratio. Gold/Silver ratio was also down more than -10.00% since the start of this month. and prices was traded $86.50 range before Europe opens.
Traders will expect as a series of sharp interest rate hikes by the Federal Reserve drove up the dollar and saw investors seek better yields in the greenback and Treasuries.
Intraday and STBT trading strategy for Gold.
Sell Gold at cmp $1686.00-$1691.00 range(Dec-future)
and keep SL $1700.00
and wait TGT1 $1669.00
and wait TGT2 $1661.90(Last Friday's Low)
and wait TGT3 $1650.00.