What Next ??? - June 24, 2024

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Gold prices could Rise $2370 to $2391 and Silver up to $29.95 to $31.45
-Prataap Kolagatla, MD, sQuareindia Advisory


Gold :  

13 responded this week, 8 see prices up, while 2 see prices down, and 3 see prices unchanged. especially Trading range will be between $2285-$2375 levels.

S1:2320 S2:2298 S3:2285
R1:2336 R2:2355 R3:2375

Silver :  

Silver Prices remain volatile, but the tone toward the metal remains high, especially Trading range will be between $29.95-$30.75 levels.

S1:29.15 S2:28.84 S3:28.08
R1:29.95 R2:30.75 R3:31.23

Crude :  

10 of 15 analysts, forecast Crude Oil will rise in next week. 1 respondents predicted that futures will be little changed and 4 said the contract will fall.

S1:79.24 S2:77.91 S3:76.83
R1:81.42 R2:82.63 R3:84.04

MCX Gold JUN :  

Now support for the Gold is seen at 71514 and below could see a test of 71161-70266. Resistance is now likely to be seen at 72004 a move above could see prices testing 72457-73352.

S1:71514 S2:71161 S3:70266
R1:72004 R2:72457 R3:73352

MCX Silver JUL :  

Now support for the silver is seen at 88601 and below could see a test of 87247-85057. Resistance is now likely to be seen at 90981 a move above could see prices testing 91335-92525.

S1:88601 S2:87247 S3:85057
R1:90981 R2:91335 R3:92525



JUNE 25th :

CB Consumer Confidence :
Previous: 100 Forecast: 100.2
Actual > Forecast is good for Dollar

JUNE 25th :

Richmond Manufacturing Index :
Previous: 0 Forecast: 2
Actual > Forecast is good for Dollar

JUNE 26th :

New Home Sales :
Previous: 634k Forecast: 650k
Actual > Forecast is good for Dollar

JUNE 26th :

Crude Oil Inventories :
Previous: -2.5M Forecast: 1.5M
Actual > Forecast is good for Dollar

June 27th :

Final GDP q/q :
Previous: 1.3M Forecast:1.4M
Actual > Forecast is good for Dollar

June 27th :

Unemployment Claims :
Previous: 238k Forecast: 240k
Actual < Forecast is good for Dollar

June 28th :

Revised UoM Consumer Sentiment:
Previous: 65.6 Forecast: 65.9
Actual > Forecast is good for Dollar

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