gold & silver, looking bullish

comex gold weekly

weekly comex silver chart

     As shown in the gold chart, we can see that last candle created hammer. Same time price has taken support from trendline. From Decemer 2017 onwards, gold price is in upmove. ( I request you to see the chart very carefully to understand the analysis. ) In last 7 months it went up from 1125 dolor to 1300 high and corrected 3 times making higher lows. Just now, in last week, it corrected to 1230 around. You can see 1230 with the last hammer candle. PRICE RECOVERED SHARPLY FROM TRENDLINE, MADE HIGH LOW & CREATED HAMMER. 

   These higher lows made ascending triangle pattern. Looking at all these things, I strongly recommend positional buy on gold and silver. 

                                                fundamentals

   The primary driver of higher gold prices at this time appears to be the flattening of the longer-dated U.S. Treasury curve. This is likely to continue this week if U.S. economic data continues to come in weaker-than-expected and if Fed officials start to deliver more dovish commentary about the chances of an additional rate hike later in the year.

This week, investors will get the opportunity to react to data on Core Durable Goods Orders, Consumer Confidence, Final GDP and Weekly Unemployment Claims.

Sandwiched between the reports will be a speech from Fed Chair Janet Yellen on Tuesday, June 27.

Pay attention to the movement in the Treasury yields. Lower yields will be bullish for gold. Rising yields will drive gold prices lower, but geopolitical concerns should prevent the market from collapsing.