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Monday, January 4, 2016

Gold spikes 1% as Saudi Arabia-Iran tensions flare up









Minted money or not???


Gold prices spiked higher on Monday, amid mounting geopolitical tensions in the Middle East after Saudi Arabia cut diplomatic ties with Iran over the weekend. The move followed a weekend storming of the Saudi embassy in Tehran in response to the kingdom's execution of a prominent Shiite cleric.  Meanwhile, investors were looking ahead to the ISM report on U.S. manufacturing activity later in the day for further clues on the strength of the economy and the timing of future rate hike


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Clearly indicated that Gold and Silver looks positive on charts. We sent message to buy Gold around 25080--25050 with stop loss of 24900. 



Booked full profit at 25400. Close above 25440 will see further upside rally till 25530---25580 mark


Also 


Sent message to buy Silver around 33680---33650 with stop loss below 33350. 





Booked part profit around 34100 and revise stop loss at cost to cost. Hurdle and target intact 34200---34500. Further upside rally seen only close above 34500 mark



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