The legend in the InstaSpot team!
Legend! You think that's bombastic rhetoric? But how should we call a man, who became the first Asian to win the junior world chess championship at 18 and who became the first Indian Grandmaster at 19? That was the start of a hard path to the World Champion title for Viswanathan Anand, the man who became a part of history of chess forever. Now one more legend in the InstaSpot team!
Borussia is one of the most titled football clubs in Germany, which has repeatedly proved to fans: the spirit of competition and leadership will certainly lead to success. Trade in the same way that sports professionals play the game: confidently and actively. Keep a "pass" from Borussia FC and be in the lead with InstaSpot!
Spot gold weakened to near $1,520 per ounce in early New York on Thursday on a combination of dollar strength and slightly increased optimism over US-China trade developments.
There was solid support at lower levels at near $1,525 on Friday. The underlying tone remains impressive, especially as the EUR/USD decline to near 2-year lows is a significant negative gold factor. Silver secured support close to $18.00 per ounce and advanced to near $18.40 on Friday.
Position adjustment will be an important element on Friday, especially given month-end pressures with currency-market volatility transferring across into choppy precious metals trading.
Trade rhetoric will continue to be watched closely after a slightly more positive stance seen from US and China officials on Thursday. Conciliatory rhetoric from President Trump would tend to underpin risk appetite and curb defensive gold demand, especially if bilateral talks take place next week as scheduled.
Precious metals are likely to remain resilient amid an underlying lack of confidence across major currencies.
Markets will be monitoring closely the political situation in Hong Kong amid an increase in tensions over the past 24 hours. Two prominent pro-democracy protesters have been arrested in Hong Kong and there here have also been reports that the proposal to withdraw the controversial extradition Bill was rejected at high levels within the Chinese government. Any increase in tensions over the weekend would trigger a spike higher in gold.
CFTC data needs to be monitored closely late on Friday, especially as long, non-commercial positions are close to record highs. A further increase in long positions would reinforce concerns over the threat of a sharp retracement in gold.
Net short-term risks indicate slightly better value in fading precious metals gains and look for better levels to buy for longer-term moves higher.
*এখানে পোস্ট করা মার্কেট বিশ্লেষণ আপনার সচেতনতা বৃদ্ধির জন্য প্রদান করা হয়, ট্রেড করার নির্দেশনা প্রদানের জন্য প্রদান করা হয় না।
ইন্সটাফরেক্স বিশ্লেষণমূলক পর্যালোচনাগুলো আপনাকে মার্কেট প্রবণতা সম্পর্কে পুরোপুরি সচেতন করবে! ইন্সটাফরেক্সের একজন গ্রাহক হওয়ায়, দক্ষ ট্রেডিং এর জন্য আপনাকে অনেক সেবা বিনামূল্যে প্রদান করা হয়।
