PRECIOUS METAL: The Gold prices rises after US Unemployment data came lesser than expected Unemployment data was declared 3.5% against expectations at 3.7%. US Non-Farm Employment data was at 136k against expectation of 145k. On Friday MCX Gold was opened at 37925 then made a high of 38350 and in the last settled bit upper levels 38055. On Monday MCX Gold is likely to open on higher note it is likely to trade in the range of 38150 to 38680. Along with this there will be fear of 13th round of talk of trade war as China narrows scope for trade deal with US ahead of talks. Gold is trading near 50 EMA in hourly chart which can be act as crucial support for the day.
TOP COMMODITY FUTURE- SPOT SPREADS:
NATURAL GAS: 0.30
MCX Gold-Silver Ratio: 84.14
The ratio suggest Gold is undervalued as compared to the Silver , going forward more upside can be seen in the Silver as relative to the Gold.