Friday, 5 June 2015

Commodity Market Gold and Silver Tips Provider

Gold was heading for a third weekly loss, hovering near its lowest levels in one month at Comex as of early morning trade today. Bullion traders largely awaited major clues from the monthly Jobs report today evening. As per expectations, Jobs addition in the US is anticipated to stay in the range of 225-230K staff in the month of May against a 223K reading last month.

We held selling view in Silver last day and overall view for day too remains on selling side. However, our technical study is suggesting that commodity in hourly charts had moved modestly to oversold phase and thus traders can either look at Gold over Silver for selling today or wait for small pullback and then only initiate shorts. Onto Gold/Silver Ratio, it moved higher on Thursday.

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