Gold
Gold price trading higher as said in yesterday’s gold update. We were hoping for a Govt shutdown in US which averted yesterday. This caused a huge surge in Dow Jones and it fired nearly 500 points from its low. Currently Dow Jones is trading above 25500 and Dollar Index is stable.
Bullion market is not in mode to back down as despite good surge and stable dollar. Euro broke 1.1300 zone last night and sustaining well above this major hurdle which is a good sign for gold buyers. Currently almost all factors are working against gold sellers. So avoid major sell. Euro is looking positive and a hurdle stands at 1.1350. Once market break and sustain above 1.1350 then expect more firepower in euro and gold too.
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