GOLD TREND FOR JUN 1ST

GOLD SETTLE $ 1562.60 DOWN BY .80 CENTS

Yesterday Gold trade in technical range between risistence and pivot as high
 as $ 1572 and as low $ 1552.

The U S Jobless claim rose by 10K and boost the demand of yellow metal
 somehow.  Trader's and Investor are eyeing today unemployement data
release at 1800hrs  because these number  will play a major role in the
 FOMC meets held on 20-22 June and support more easing.    


It appeared yellow metal to be returning to its safe haven bid as investors
 seem to be becoming more uncomfortable with equities and are flocking
to bonds, the US Dollar, the Yen and, as of yesterday, the gold.  We have
 seen hints at this development in the gold market several times this year
only to see the equities maintain their value and the gold revert back to a risk
 commodity.   It would appear, should this pattern hold and money continue
 to leave the equities and flow to the safe haven commodities, that the stocks
 could be in line for a more dramatic correction than what we have seen recently

TODAY LEVEL (AUG)

RESISTANCE # 2………….$1585.00
RESISTANCE # 1………….$1574.00
PIVOT………………..…… $1563.00
SUPPORT # 1……………...$1552.00
SUPPORT # 2……………...$1541.00

MCX (AUG )

RESISTANCE # 2………….INR 29660
RESISTANCE # 1………….INR 29570
PIVOT…………………..… INR 29440
SUPPORT # 1……………...INR 29310
SUPPORT # 2……………...INR 29190

Happy Trading


Rahul Kumar
Gold Analysist

Call me for today trade set-up after U S data : 969-0022-884

GOLD TREND FOR MAY 31st

GOLD SETTLE $ 1563.40 UP BY $ 14.70

Gold covered a very volitile range of $ 34.70 and made a low $ 1532.40 early
opening of Comex trading.  However, after the release of US panding Home sales
(too below expection) start a strength rally towards $ 1569 befor closing $ 1563.40.

Note : Despite weakness in all Euro, Crude, Stocks and other commodites, Gold
overcome all and settled higher.

Keep close watch at U S Jobless claim release today at 1800 hrs to develop a
trade set-up.  Today comfort Zone for gold could be $ 1550-53 and resistence
$ 1584-86 level. .

TODAY LEVEL

RESISTENCE #2............................$ 1586
RESISTENCE #1............................$ 1575
PIVOT............................................$ 1552
SUPPORT #1.................................$ 1542
SUPPORT #2.................................$ 1520

MCX

RESISTENCE #2............................INR 29400
RESISTENCE #1............................INR 29255
PIVOT............................................INR 29020
SUPPORT #1.................................INR 28880
SUPPORT #2.................................INR 28620

Happy Trading

Rahul Kumar
Gold Analysist

Call me for trade set-up : 969-0022-884

Note : We also going to publish our quarterly report and analyisis with recommendation in IInd week of Jun.
 2012.  To get this report in your in-box mail us at comexgoldfuture@yahoo.com
.   

  



  

GOLD TREND FOR MAY 30th

GOLD SETTLE $ 1548.70 DOWN  BY $ 20.20

Yesterday  gold coverd very volatile range of $ 37.80.  Gold seen a sharp sell-off till $ 1545.70 after made high $ 1583.  Traders start profit  booking near resistence level $ 1584-86 after news that Egan-Jones cut spain's rating to B from BB- and showing a negative outlook.  U S Dollars strength alos limited the perious metals gain and cause to a sell-off.

Traders will be eyeing the possibility China adding more stimulus to its economey, Its bullish for yellow metals and can generate 'safe-heven' buying.

As long as gold remain above support level ($ 1530-35) closing basis, I recommend to initiate buy at lower level.


TODAY LEVEL

RESISTENCE #2.............................$ 1595
RESISTENCE #1.............................$ 1571
PIVOT ...........................................$ 1559
SUPPORT #1..................................$ 1535
SUPPORT #2..................................$ 1521

MCX

RESISTENCE #2.............................INR 29250
RESISTENCE #1.............................INR 29070
PIVOT ...........................................INR 28940
SUPPORT #1..................................INR 28760
SUPPORT #2..................................INR 28630


Happy trading


Rahul Kumar
Gold Analysist

Call me : 969-0022-884

GOLD TREND FOR MAY 29th

From observing the gold price action lately the market seems to be holding major support levels and may be set to travel higher towards the 1605 level. The market traded within a downward parallel channel but failed to take out previous lows of $1526.7.  The second pullback found support at the $1532.8 level since then witnessed a $50 bounce in price. Our key levels to observe remain at 1586 level the 18 day moving. If buying pressure continues 1605 per ounce level may be on its way till this weekend .  Watch closely and must maintain level
$ 1562 for trading higher.

TODAY LEVELS

RESISTENCE #2........................ $ 1584
RESISTENCE #1........................ $ 1571
PIVOT ........................................$ 1563
SUPPORT #1..............................$ 1551
SUPPORT #2..............................$ 1539

MCX

RESISTENCE #2........................ INR 29150
RESISTENCE #1........................ INR 29050
PIVOT ........................................INR 28960
SUPPORT #1..............................INR 28870
SUPPORT #2..............................INR 28790


Happy Trading

Rahul Kumar
Gold Analysist

Call me : 969-0022-884

GOLD TREND FOR MAY 25th

GOLD SETTLE $ 1553 UP BY $ 5.00

The market place moved into a more “risk-off” trading mode as the day wore on Thursday. Trading on Friday will be extra important for many markets, including the precious metals, heading into a three-day U.S. holiday weekend.

CME Group is cutting margins for gold futures, the exchange announced late Thursday.

The new rates will be effective after the close of business on Tuesday, CME Group said. The exchange operator also announced margin changes for a number of other markets, mostly lower, including reduced margins for crude oil, gasoline, lean hogs and lumber.  For the main 100-ounce gold contract on the Comex division of the New York Mercantile Exchange, the initial margin for new speculative positions will fall to $9,113 from $10,125.


Technically gold trading in range $ 1525-$1600,  traders to advise use lower side as buy and higher as sell oppertunity with proper stop loss.  For today $1562-65 will re-act as resistence and $1535-40 as support.

TODAY LEVEL

RESISTENCE #2............................$ 1586
RESISTENCE #1............................$ 1573
PIVOT............................................$ 1563
SUPPORT #1.................................$ 1549
SUPPORT #2.................................$ 1535

MCX

RESISTENCE #2............................INR 29190
RESISTENCE #1............................INR 29040
PIVOT............................................INR 28940
SUPPORT #1.................................INR 28800
SUPPORT #2.................................INR 28700

Happy trading

Rahul Kumar
Gold Analysist

Call me : 969-0022-884

GOLD TREND FOR MAY 24TH

GOLD SETTLE $ 1548 DOWN $ 28.60

FUNDAMENTAL

Comex gold is sharply lower as traders exit a broad range of markets due to uncertainty about Europe and debt-plagued Greece ahead of a summit of European leaders Wednesday night. There was a report  that a former Greek prime minister said there are official discussions taking place regarding Greece possibly leaving the European Union. German bond yields hit another record low at the latest auctions Wednesday, which is another sign of the keen risk-aversion in the market place

The U.S. dollar index traded sharply higher Wednesday and hit a fresh 20-month high, on safe-haven buying interest as the Euro currency slumps. The dollar index bulls have strong upside near-term technical momentum and that remains a bearish underlying factor for the precious metals.

TECHNICAL

Technically Gold is not able to trade above $ 1600 and again sell-off to bottaming $ 1532 within 48 hours after making a high $ 1598 on Monday.  The recent pull back from $ 1533 yeaterday night look like a rollover shorts from June to August Contract very sharply after place a bottam near $ 1532.  Overall picture for Global Gold future looking bearish in near shorterm. Support at $ 1520-1525 and $ 1490-1500.


LEVEL

RESISTENCE #2................................$ 1585
RESISTENCE #1................................$ 1567
PIVOT................................................$ 1550
SUPPORT #1......................................$ 1530
SUPPORT #2......................................$ 1515

MCX

RESISTENCE #2.................................INR 29200
RESISTENCE #1.................................INR 29085
PIVOT............................................... INR 28955
SUPPORT #1......................................INR 28820
SUPPORT #2......................................INR 28700

RECOMMENDATION : WATCH LEVEL $ 1567-1570 TO SELL WITH SL $ 1581


Happy Trading

Rahul Kumar
Gold Analysist

Call me : 969-0022-884


 . 

GOLD TREND FOR MAY 23rd

GOLD SETTLE $ 1576.30 DOWN $ 12.40

FUNDAMENTAL

The market place received a negative surprise overnight when the Fitch credit rating agency downgraded Japan’s sovereign debt rating due to the increasing public sector debt load. That set the tone for a “risk off” trading day in the market place, which was bearish for most markets, including the precious metals.

Traders are now awaiting a European Union leaders’ summit meeting in Brussels on Wednesday. Traders and investors want to see the next steps that will be taken by officials to try to mop up the EU debt crisis—namely Greece’s present mess

TECHNICAL

Technically Gold future give us again a fresh sell signal at $ 1567 can extend up to $ 1544.  At these level we will see some pullback action.


RESISTANCE # 2……………....$1601.00
RESISTANCE # 1………………$1590.00
PIVOT………………………..…$1580.00
SUPPORT # 1…………………..$1567.00
SUPPORT # 2…………………..$1555.00

MCX

RESISTANCE # 2……………....INR 29370
RESISTANCE # 1………………INR 29200
PIVOT………………………..…INR 29035
SUPPORT # 1…………………..INR 28870
SUPPORT # 2…………………..INR 29670

NO RECOMMENDATION TODAY


Happy Trading

Rahul Kumar
Gold Analysist

Call me 969-0022-884

 

GOLD TREND FOR MAY 22ND

GOLD SETTLE $ 1589.30 DOWN $ 2.60

FUNDAMENTAL

Market players looking upto G-8 meeting.  The G-8 during the weekend attempted to assuage the markets by stating it wants Greece to remain in the European Union. And reports out of Greece said the more conservative political party is regaining some momentum heading into the June Greek elections. The next big news headline event for the market place is an EU summit meeting in Brussels on Wednesday.


TECHNICAL

The next major resistence is physicological level $ 1600. Market await for a good news to break that resistence.  In my view yellow metal ready to climb till $ 1615 and $ 1650 near term. Now $ 1574 will re-act as a good support and limit the further losses. 

TODAY SUPPORT AND RESISTENCE LEVEL

RESISTANCE # 2……………....$1606.00
RESISTANCE # 1………………$1598.00
PIVOT………………………..…$1591.00
SUPPORT # 1…………………..$1583.00
SUPPORT # 2…………………..$1576.00

MCX

RESISTANCE # 2……………....INR 29270
RESISTANCE # 1………………INR 29150
PIVOT………………………..…INR 29050
SUPPORT # 1…………………..INR 28940
SUPPORT # 2…………………..INR 28850

RECOMMENDATION : WAIT A DIP TO BUY

Happy Trading

Rahul Kumar
Gold Analysist

Call me : 969-0022-884
  

TECHNICAL AND FUNDAMENTAL TREND OF GLOBAL GOLD FUTURE FOR MAY 18TH

TODAY IS THE LAST DAY OF TRAIL OFFER FOR JUST RS 2000/- FOR ONE MONTH
for payment CLICK HERE

GOLD SETTLES $ 37 (LTP $ 1573.60)

FUNDAMENTAL


The European Union debt and financial crisis is still on the front burner of the market place. The Fitch ratings agency Thursday further downgraded Greece’s debt rating, which was not at all surprising. After Tuesday’s failed efforts by Greek politicians to form a coalition government, fresh Greek elections are now scheduled for mid-June. Concerns regarding Greece leaving the Euro zone are high, as the Greeks’ commitment to financial austerity is highly questionable. Spanish and Italian bond yields are above 6%, which is stressing the EU financial system.

TECHNICAL

Gold has completed a 61.8% Fibonacci retracement and hopefully some regular readers were buyers in the last 24 hours. I put out a buy recommendation at $ 1525-$1530  on Tuesday and though prices got there quicker than I had anticipated it is now water under the bridge. Prices have closed nearly $40 off that level. As long as $1535 in June holds on a closing basis I like bullish exposure. Upside targets are $1615 followed by $1650 and then I'll re-evaluate. Silver got some legs today as well picking up 3% to trade in the green for only the second time in two weeks. There is more risk in silver longs as $27.15 is eyed as support. From here I expect a bounce back near $30/ounce. 

TODAY NUMBERS

RESISTENCE #2 .............................$ 1602
RESISTENCE #1..............................$ 1588
PIVOT..............................................$ 1565
SUPPORT #1...................................$ 1551
SUPPORT #2...................................$ 1528

MCX

RESISTENCE #2 .............................INR 28980
RESISTENCE #1..............................INR 28762
PIVOT..............................................INR 28362
SUPPORT #1...................................INR 28160
SUPPORT #2...................................INR 27850

RECOMMENDATION : NO FRESH TRADE TODAY (POSITIONAL TRADERS WAIT FOR NEXT UPDATE) INTRADAY TRADER BUY AT OPENING FOR TGT 28650 28750 SL 28455 (KEEP SL)

Happy Trading

Rahul Kumar
Gold Analysist
Call me : 969-0022-884
write me : comexoldfuture@yahoo.com
Join me : http://hansrajconsualtant.tk/

TECHNICAL AND FUNDAMENTAL TREND OF GLOBAL GOLD FUTURE FOR MAY 17TH

NOTE : ONE MONTH TRAIL OFFER FOR COMEX/MCX GOLD (INTRADAY/POSITION) JUST RS 2000/- OPEN TILL THIS WEEKEND.


GOLD SETTLE LOWER $ 20.40  ( LTP $ 1536.40)

Comex gold futures prices ended the day sharply lower, near the daily low and hit a fresh 10-month low of $1,526.70 an ounce Wednesday. It was yet another “risk-off” day in the market place Wednesday, as the European Union debt worries mount.  Gold getting support after the FOMC minutes late night.   Fed Chairman Ben Bernanke at the time said U.S. monetary policy was "more or less in the right place" but the central bank would not hesitate to open the monetary spigots further "should the economy require that additional support. 

"All things considered, the chances of a QE3 are probably a little higher than we previously thought,"


Gold   trading as lows as $1527 in the June contract. Looking deeper into the chart a triple bottom around today's lows could be forming. The last two times prices have been at these levels prices bounced $250/ounce or better than 15% inside of three months. Past performance is not indicative of future results. I would be an aggressive buyer on a further set back or even at these levels as long as $1515 held on a closing basis. Silver under $27.50 which we are currently at has silver longs on my radar.

Keep close eye on today U S Jobless claime at 6.00PM

TODAY NUMBERS

RESISTENCE #2........................$ 1562
RESISTENCE #1........................$ 1551
PIVOT........................................$ 1538
SUPPORT #1.............................$ 1525
SUPPORT #2.............................$ 1515

MCX

RESISTENCE #2........................INR 28320
RESISTENCE #1........................INR 28150
PIVOT........................................INR 28020
SUPPORT #1.............................INR 28840
SUPPORT #2.............................INR 28700

RECOMMENDATION :  INTRADAY BUY NEAR 28000-28040 TGT 28150 28250 SL 27900

Happy Trading

Rahul Kumar
Gold Analysist

Call Me : 0969-0022-884
Write me : comexgoldfuture@yahoo.com
Join me : http://hansrajconsualtant.tk/

GOLD TREND FOR MAY 16TH

NOTE : WE ARE OFFERING ONE MONTH TRAIL PACKAGE FOR
MCX/COMEX GOLD FUTURE  INTRADAY/POSITION TRADING
JUST INR 2000/-  Contact us for more details

GOLD SETTLE  LOWER $ 3.90 ( LTP $ 1557.10)

Gold Comex coverd a range $ 17.60  as traders and investors
alike are watching the chaos in Greece as the political uncertainty
continues to pressure the Euro currency as well as the region. 
Gold Future produced a new low $ 1546.80 since Dec 29 and
after that made high $ 1564 looks that trader d'ont like to
keep position overnight.

Technically as I pointed out earlier yellow metals now  approch
Dec 29 low ($ 1523.90) and Silver ( $26.15) could be the target
of this third wave down. A short covering can be seen hear and
$ 1545-$ 1550 will react near term pivot point.

TODAY NUMBERS

RESISTANCE # 2………………$1574.00
RESISTANCE # 1………………$1565.00
PIVOT………………………..…$1556.00
SUPPORT # 1…………………..$1548.00
SUPPORT # 2…………………..$1538.00
MCX

RESISTANCE # 2………………INR 28310
RESISTANCE # 1………………INR 28210
PIVOT………………………..…INR 28110
SUPPORT # 1…………………..INR 28010
SUPPORT # 2…………………..INR 27890

RECOMMENDATION : BUYER SHOULD WATCH LEVEL $ 1525 TO BUY WITH STRICT SL $ 1509 

Happy Trading

Rahul Kumar
Gold Analysist

Call me : 969-0022-884
Write me : comexgoldfuture@yahoo.com
Join me : http://hansrajconsualtant.tk
    

TECHINACIAL AND FUNDAMENTAL TREND OF GLOBAL GOLD FUTURE FOR 15 MAY 2012

GOLD COMEX SETTLES $ 23 LOWER $ 1561

FUNDAMENTAL

The EU debt situation shared the spotlight with China Monday as Chinese monetary authorities loosened monetary policy over the weekend by reducing reserve requirement ratios on domestic bank reserves. The move follows recent weaker-than-expected Chinese economic data. And there is still fallout from the news late last week when JP Morgan announced a $2 billion or more trading loss in just a few weeks’ time. All this has created keener trader/investor uncertainty in the market place, which is bullish for the U.S. dollar index, U.S. Treasuries and German bonds—and bearish for raw commodity markets. This week looks to be an extra important trading week for many markets, including the precious metals.

TECHNICAL

Daily momentum tools, such as the 9-day RSI (relative strength index), are at deeply oversold levels. That indicator is currently at 19%, below the 30% oversold line. Markets can trade at oversold or overbought levels for weeks or even months during extremely strong trends, but the oversold level also puts the bears on notice for a potential reversal or snapback move.

Interestingly, the last time the 9-day RSI was at the 19% level was in mid December—just prior to the spike low to $1,528 on December 29. At that time a bullish divergence formed on the momentum indicator and prices rallied higher.

Any approach and test of the December low will be critical for the gold market near term. A sustained a sharp decline below $1,528 would break the intermediate term neutral trend and turn the medium term trend bearish. Declines of several hundred dollars per ounce could be targeted if that were to unfold.
Conversely, this major support level at $1,528 could offer a stalling point and a floor for the recent gold market declines. It is a crucial zone for traders to monitor near term.

CONCLUSTION : Gold lost 1.7% today as gold is fast approaching its December 2011 lows just as forecast. Expect this pressure to continue. The key to me will be how the market reacts as prices near $1530/1535 in the June contract. The 100 day MA on the weekly chart comes in at $1515. Expect below $ 1550 will be short lived in the market and gold bugs keep the trend line between $ 1550-$1750.

DAILY SUPPORT AND RESISTENCE LEVEL FOR MAY 15th

RESISTANCE # 2………………$1602.00
RESISTANCE # 1………………$1582.00
PIVOT………………………. …$1566.00
SUPPORT # 1…………………..$1545.00
SUPPORT # 2…………………..$1530.00

MCX

RESISTANCE # 2………………INR 28490
RESISTANCE # 1………………INR 28390
PIVOT……………………..……INR 28260
SUPPORT # 1…………………..INR 28140
SUPPORT # 2…………………..INR 28025

INTRADAY RECOMMENDATION : RISK TAKER BUY GOLD 28000-28050 TGT 28150 28250 28350 SL 27850

Happy Trading

Rahul Kumar
Gold Analysist

Call me for Trade set-up : 969-0022-884

Write me : comexgoldfuture@yahoo.com

Join me : http://facebook.com/comexgoldfutue

WHAT THE INTERNATIONAL GOLD BUGS STERTEGY????

Gold Comex settles $ 1584 lower $ 11.50 on Friday and hiting new low of the year $ 1572 during day trading.  The gold market reacted negatively to reports that J.P Morgan had suffered a 2 billion dollar trading loss on credit derivatives.  What's thats mean the bigest Bank of US fail to manage risk (must read)
and paint a scrinio more nagative for perisious metals.

Keep this aside.......and take a look of these analysis

1.   Only  sixty minutes charts show us a over sold sitituation ( can shoot up $ 1604 and $ 1614-22 again)
2.   Monthaly Weekly and Daily all are negative bias (Ist $ 1567 and a test $ 1520 till end this month)
3.   The US Dollar becoming the first choice of investor
4.   The uncertainty in the Euro region has caused traders and investors alike to be more tentative with their trading strategies especially when it comes to carrying open positions over night
5.   Lower crude oil price put pressure on yellow metal.

CONCULUSTION :  EXPECT A CHOPPY TRADE WITH NEGATIVE TREND

MY NUMBERS FOR MONDAY 14 MAY 2012

RESISTANCE # 2………………$1607.00
RESISTANCE # 1………………$1596.00
PIVOT……………………………$1584.00
SUPPORT # 1…………………..$1573.00
SUPPORT # 2…………………..$1561.00
MCX

RESISTANCE # 2………………INR 28530
RESISTANCE # 1………………INR 28445
PIVOT……………………………INR 28360
SUPPORT # 1…………………..INR 28275
SUPPORT # 2…………………..INR 28190

NOTE : Watch my trade set-up for next week starting for May 14th on Monday at 9 .00am 
              at DAILY ANALYSIS


Happy Trading

Rahul Kumar
Gold Analysist

Call me for trade set-up 969-0022-884

Write me : comexgoldfuture@yahoo.com

Join me : http://facebook.com/comexgoldfutue

INTRADAY TREND FOR COMEX/MCX GOLD FOR 11 MAY 2012

Gold  Comex  Settles $1.30 Higher $1595.50

Yesterday  Gold futures traded a quiet $17.20 range as global investors and traders alike remained tentative and viewed U.S Economic data and another European Union debt crisis reprieve as Greece will keep their funding until political election issues are resolved and a new Greek government is in place.

FOMC Chairman Ben Bernanke spoke to the Bank structure and confidence conference  and that may have sidelined many Gold traders .  In  speech Mr. Bernanke stated “The banks have more to do to restore their health” “the banking sector has improved substantially” & “that demand for credit has remained sluggish”. There was no mention of stimulus.

Again Gold close under $ 1600  after made high $ 1602 and looks to resist the same between $ 1602-
$ 1614.....and a littel support $ 1577-$ 1581

MY COUNTS FOR  11 MAY 2012 FOR COMEX

RESISTANCE # 2………………$1611.00
RESISTANCE # 1………………$1603.00
PIVOT……………………………$1594.00
SUPPORT # 1…………………..$1586.00
SUPPORT # 2…………………..$1577.00
FOR MCX

RESISTANCE # 2………………INR 28797
RESISTANCE # 1………………INR 28615
PIVOT……………………………INR 28457
SUPPORT # 1…………………..INR 28275
SUPPORT # 2…………………..INR 28115

INTRADAY RECOMMENDATION : BUY  28200-28225 SL BELOW 28100 TGT 28325 28475

Happy trading

Rahul Kumar
Gold Analysist

Call me for trade set-up 969-0022-884

Write me : comexgoldfuture@yahoo.com

Join me : http://facebook.com/comexgoldfutue

INTRADAY TREND FOR 10 MAY 2012

GOLD COMEX SETTLE $ 10.30 LOWER $ 1594.20

The first time since Dec 2011 gold settleed below $ 1600 yesterday night. Gold prices dropped as low as $1679.50 per ounce today as early reports and rumors concerning the bailout and the future status of Greece’s role as a member of the European Union chased investors into the U.S Dollar and U.S Treasuries as the EURO currency remained under siege.

FOMC Chairman Ben Bernanke will address the 48th annual conference on Bank structure and competition at 7.00 PM  that is sponsored by the Chicago FED. Trader also keep an eye on today US Ecomonic Data release at 6.00PM.

TODAY NUMBERS FOR COMEX


RESISTANCE # 2………………$1622.00
RESISTANCE # 1………………$1607.00
PIVOT             #...........................$1593.00
SUPPORT # 1…………………..$1579.00
SUPPORT # 2…………………..$1564.00
FOR MCX


RESISTANCE # 2………………INR 28890
RESISTANCE # 1………………INR 28777
PIVOT             #...........................INR 28615
SUPPORT # 1…………………..INR 28502
SUPPORT # 2…………………..INR 28340

RECOMMENDATION : ADDING SELL POSITION ON HIGHER SIDE 

Happy Trading

Rahul Kumar
Gold Analysist

Call me for trade set-up : 969-0022-884
Write me : bestech30@gmail.com 

INTRADAY GOLD TREND FOR 09 MAY 2012

GOLD COMEX SETTLES $  34.60 LOWER .....$ 1604.50

Today’s day session traded a low of $1595.50 a level it has not seen since January 3rd 2012. Global investors are viewing the leadership change in both Greece and France has heightened the political and economic turmoil in the Euro Region.

The Euro currency is under siege as the instability of the Greek government has placed a heavy financial burden on the entire European Union as well as forcing global investors to buy U.S Dollars and U.S Treasuries. President elect François Hollande of France is scheduled to take charge May 15th has been very outspoken in regards to the financial bailouts given to Greece and the devastating effect it has had on France as well as the rest of the European Union.

The French elected the Socialist party candidate ousting Nicholas Sarkozy who along with German Chancellor Angela Merkel was instrumental in getting Greece their bailouts. Apparently the citizens of France are tired of shouldering the economic weight that has threatened the economic climate of France.

A weaker Euro is ‘bullish’ for the U.S Dollar. A strong U.S Dollar is “bearish” for precious metals lower Crude oil prices also attributed to lower precious metals prices as the June Crude Oil futures traded as low as $95.52 per barrel during the day session.

09/05  RESISTANCE & SUPPORT LEVEL FOR COMEX

RESISTANCE # 2………………$1657.00
RESISTANCE # 1………………$1630.00
PIVOT……………………………$1613.00
SUPPORT # 1…………………..$1587.00
SUPPORT # 2…………………..$1569.00

FOR MCX

RESISTENCE #2........................ INR 29110
RESISTENCE #1........................ INR 28880
PIVOT            #.......................... INR 28740
SUPPORT      #1........................ INR 28510
SUPPORT      #2........................ INR 28370

STARTEGY CALL : SELL GOLD 28725-750 FOR TGT 28600 28525 SL 28850

Happy Trading

Rahul Kumar
Gold Analysist
Call me for Trade Set-up 969-0022-884
Write me : bestech30@gmail.com