If the dollar index falls further, gold and silver bulls will have strong support, while silver will be more fundamentally bullish than gold.
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Ahmedabad 16 days ago Author: Mandar Dave
Mini vacation atmosphere due to the end of the year, liquidity will stop in a shaken week
Mandar Dave | Gold-silver maintains a bullish tone. Christmas week created an overall mini-holiday atmosphere that didn’t see much cash in a week. Large fluctuations in gold-silver are not expected next week. But if gold crosses to the 19-1900 level on the world market, it is at the center of a rapid rally. The short term in the local will hit between 51000 and 53000. The dollar index is quoted around 90 and even if it drops to 86 the market will continue to find bullish support. The fundamentals are stronger in silver than in gold. Money can be 72000 at any time.
Strong export support for a boom in agricultural products
The boom in agricultural products is heavily dependent on export trade. Also, the continued surge in player cash after La Corona, adverse weather conditions, rapid post-Corona rebounds, Agri could continue to rise for the next six months, but if La Nina gets longer, Dolex breaks more and a bigger relief package is coming, the booming tone could extend until the end of 2021.. There is also a major dependence on how demand compares to cash market income.
The rise of nickel-copper in metals will continue
1. Fluctuations on the movement of the dollar index: The upward trend of metals will depend on how the dollar stays in the near future. The dollar index has weakened to below 90, which will accelerate further if it breaks further.
2. Nickel will quickly jump 1300, Copper 625: With each drop, a new taker arrives. There is a material shortage problem because of which nickel can jump again to the 1300 level and hit $ 1350. While the bullish tone of copper should also be 625-650 faster.
3. The trend will change in the market as Corona care resumes: Corona’s transition is on the rise again. There are fears of another foreclosure in Europe due to a supply shortage, the trend is positive.
Trading lineup for the new week
(Note: the price is that of NCDEX-MCX futures contracts)