Weekly Precious Metal Report (25 Oct) - Bullion Mart

Weekly Precious Metal Report (25 Oct) – Bullion Mart

Gold Aims $1834

Last week gold recovered from its previous week’s loosing streak and as the week pro-gressed it marked gains , from a low of $1760 on Monday Friday it marked as high as near $1815 levels. Towards the close of the week gold saw some profit booking and finally settled the week near to $1791 levels. All major central banks are expecting higher inflation rates in coming months and as and when the hints and comments are out in the market gold is gradually building its upside momentum.

Technically, Currently trading at $1802 levels gold has cleared above to its 50 Day ( $1780) and 100 day ($1791)moving average on a daily close basis on charts ,which hints about more bullish price action to follow. With chart pattern tilting towards bull-ishness, traders could see any fall in price as an opportunity to buy. Support for gold is seen at its Moving average given above and Price action could be gradually looking for a close above $1815 levels, where as its next resistance is at $1834.

Silver

Silver made a remarkable recovery on weekly close basis the previous week. On daily charts it indicates trading near to its sept high of $24.80 and silver has gathered enough upside momentum to take on its $24.80. With the Festival season in india around silver could find good physical demand out of India , as silver is seen as poor mans Gold. Trading currently at $24.40 , silver is poised to surpass its resistance at $24.80 and march towards $26 levels as its next target.

Data and Events for this week

Disclaimer: Bullion mart is one of the Canada’s leading Gold and Silver Dealers, Bullion mart provides its client with the best possible customer experience in Bullion trading. We are authorized distributor of Royal Canadian Mint products in Canada.  All of our stocks can be selected in our website www.bullionmart.ca. The news report mentioned here is not to be seen as an investment advice. Report is gathered from reputable online resources and chart source is Netdania.

The information contained in these reports is gathered from reputable news sources and is not intended to be used as investment advice. Please note that Bullion Mart doesn’t not provide a platform for trading or futures and our service is to provide physical precious metals bars & coins. Bullion mart makes no warranty, expressed or implied, as to the accuracy or completeness of the information and opinions herein. No responsibility or liability is accepted for any loss or damage which may arise due to their respective actions or sides taken in trading or  howsoever arising that you may suffer as a result of this information and any and all responsibility and liability is expressly disclaimed by Bullion Mart or any of them or any of their respective directors, partners, officers, affiliates, employees or agents. Bullion Mart is registered brand name of the online retailing /trading or service offered by Asia Pacific International Canada.

This content was originally published here.

Rate:

0 out of 5 stars(0 ratings)

Subscribe to Our Newsletter

money for gold logo

Learn About Buying and Selling Gold for the Best Prices

Get the latest news and expert advice on Gold!

We don’t spam! Read our privacy policy for more info.

Leave a Reply

Related

Invest in Gold Bullion - Metals Resource - June 2021

Invest in Gold BullionGold is a tangible asset that is considered the safest and most stable form of investment. It…

Read more
Bullion News Review: May 17th - 23rd, 2021

In this weeks news we're hearing that silver is headed back to an all-time high, plus a surge in gold and you'll learn…

Read more

SelectDriven To Distraction – Chapter 8, Act 2, Strip 47 Empty At The Core – Chapter 8, Act 2, Strip…

Read more

Share Great Content for Our Resource Section

About

MoneyForGold.com is a resource site created for those looking to sell their personal collection of gold - whether it’s jewelry, coins, bars, antiques, etc., anything made from gold can be sold for quick cash. We encourage visitors to signup and share quality “Money For Gold” resources.

Have a question or comment? Email us at: contact@moneyforgold.com

Navigation
MoneyForGold.com
50% Complete

Learn Where to Sell Your Gold for the Best Prices

Free 3-Minute, Practical Stories Delivered to You Everyday!
Buy, Sell, Invest in Gold Today!