The legend in the InstaSpot team!
Legend! You think that's bombastic rhetoric? But how should we call a man, who became the first Asian to win the junior world chess championship at 18 and who became the first Indian Grandmaster at 19? That was the start of a hard path to the World Champion title for Viswanathan Anand, the man who became a part of history of chess forever. Now one more legend in the InstaSpot team!
Borussia is one of the most titled football clubs in Germany, which has repeatedly proved to fans: the spirit of competition and leadership will certainly lead to success. Trade in the same way that sports professionals play the game: confidently and actively. Keep a "pass" from Borussia FC and be in the lead with InstaSpot!
Gold found support just below $1,530 per ounce on Tuesday with dips in early Asia limited to $1,532 before a rally to the $1,545 area ahead of Wednesday's New York open. Silver still finds strong support on dips with 18-month highs close to $18.50 per ounce on Wednesday.
There are strong expectations that the ECB will launch an aggressive monetary stimulus package at the 12th policy meeting in September with Vice President de Guindos calling on the bank to act with determination.
German bond yields remain on negative territory across the curve with the 10-year yield at -0.60%.
There is also a strong likelihood that the Federal Reserve will cut interest rates again at the September policy meeting with futures markets expecting at least a further 0.25% rate cut.
Confidence in the Federal Reserve has been damaged by persistent attacks on the central bank and Chair Powell by President Trump.
The US Administration approach to policy making will also be a key corrosive factor to dent sentiment on the US dollar.
Barring a breakthrough in US-China trade talks, underlying risk appetite is likely to remain fragile with strong underlying demand for precious metals.
European political factors will make a crucial impact with a fresh row erupting over Brexit as the UK government proposed suspending parliament for a month ahead of October 14th.
A lack of confidence in the US and European political prospects will also reinforce demand for precious metals while the euro's vulnerability will tend to weaken the shared currency rather than reverse gains.
Immediate technical resistance for silver is seen at near $18.70 with a medium-term target of $20.00 per ounce. Short-term silver support is likely to be on dips to $18.20 per ounce.
Initial gold resistance is expected at near $1,560 with a longer-term target of $1,600 per ounce and short-term support near $1,535.
*এখানে পোস্ট করা মার্কেট বিশ্লেষণ আপনার সচেতনতা বৃদ্ধির জন্য প্রদান করা হয়, ট্রেড করার নির্দেশনা প্রদানের জন্য প্রদান করা হয় না।
ইন্সটাফরেক্স বিশ্লেষণমূলক পর্যালোচনাগুলো আপনাকে মার্কেট প্রবণতা সম্পর্কে পুরোপুরি সচেতন করবে! ইন্সটাফরেক্সের একজন গ্রাহক হওয়ায়, দক্ষ ট্রেডিং এর জন্য আপনাকে অনেক সেবা বিনামূল্যে প্রদান করা হয়।