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
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
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