Trading strategies for gold and aluminum by Tradebulls Securities

In gold, fresh selling can commence below 46,800 levels while buying can commence above 47,300.

Gold, which lost around $70 last week, managed to recover after the US Fed stated that inflation might be there till the year-end and participants are expecting that due to high inflation, the Fed wont have room on the upside once it starts increasing rates. This propelled equity market and bullions to do a 180 degree turn. Although gold’s reaction is muted compared to equity class, atleast for the time being, gold selling pressure has abated. This week, we expect gold prices to remain in the range of 46,800-47,300. We are neutral in gold and fresh selling can commence below