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Gold Weekly Outlook: November 26 - 30

Release Time:2018-11-26 03:49

Market Commentary

This week precious metals traders will be focusing their attention on Thursday’s minutes of the Federal Reserve’s latest meeting, the dollars response to the Fed policy outlook and Friday’s looming U.S.-China trade talks.

U.S. President Donald Trump is due to hold talks with his Chinese counterpart Xi Jinping on the sidelines of the upcoming G20 summit in Buenos Aires and market watchers are hoping that the discussions could lead to a ceasefire in the trade war between Washington and Beijing.

Investors will also be awaiting the release of the minutes from the Federal Reserve’s latest policy meeting and an analysis on the draft Brexit deal from the Bank of England.


Technical Commentary

1228 is proving to be a good resistance. Any close above 1245 will indicate good strength. Trend is down as of now.

MAJOR SUPPORT LEVELS ON CLOSING BASIS ARE:: 1195- 1180-1153-1120-1045

MAJOR RESISTANCE LEVELS ON CLOSING BASIS ARE :: 1228-1245-1266-1280-1298