Gold and silver prices are sharply lower and have at least temporarily lost their recent safe-haven bid in morning dealings Thursday, as the U.S. stock market is rallying and the stock indexes are sharply higher on the day. News the U.S. and China will restart their trade talks in October has injected fresh investor optimism into the marketplace--at least for now.
Existing positions:
Asset: XAUUSD ( GOLD )
Sell Stop Entry Price:1500
Take Profit: 1250
Stop Loss:1560(we will reduce the stop loss points once positions will be more favorable)
Capital risk:$3000(4%)
Potential Gain:$15000
Risk/Reward: 1:5
Asset: XAGUSD ( SILVER )
Sell Stop Entry Price:19.00
Take Profit: 14.00
Stop Loss: 20.00(we will reduce the stop loss points once positions will be more favorable)