GOLD (JUNE - 2011) : Trading sentiments in the Gold continue bullish and finally managed to hold closed above 22000 and finally closed at 22110 and weekly gained more than 600 points. Gold already advanced in Comex and finally closed at 1512 $ due to weaker dollar and Europen debts concerns boosted the metals appeal as an alternative investment.
Monday, April 25, 2011
Tuesday, April 19, 2011
Gold prices rallied to a record high $1,497.20 an ounce and on Commodity settled up by 1.21% that is on 21835 after S&P's downgraded its credit outlook for the US and as investors worried about debt in the euro zone and inflation in China. S&P said it might eventually cut its long-term rating on the US within two years, prompting investors to buy gold as a hedge against economic uncertainty. The ratings agency cited a risk that policymakers may not reach agreement on a plan to slash the huge federal budget deficit.
Monday, April 11, 2011
GOLD TIPS : (JUNE - 2011)
As expected last week strong rally were saw resulted it was made a high 21459 and low was made 20915 and finally closed at 21418. Over all trend is bullish and decline to buy side. We may consider major support 12265.........higher level resistance 21613-21809,, down side support 21200............
Thursday, April 7, 2011
Gold (MCX-Jun'11): Since last couple of days, Gold shows a zigzag movement. In international market gold taken strong support from $1430 but at upper level its attracting sellers. In MCX gold may fall till 21000 again. Below 20950, it may fall till 20800.
Monday, April 4, 2011
GOLD TIPS : (JUNE - 2011) - Last week some selling pressure was developed at higher level , after made a high of 21112, it was slipped at 20800 but unable to hold 21000 level which indicate short term down side continue. We consider this week resistance 21108, 21265, whereas the support is 20800, decisively break it will test 20500 mark.