GOLD SETTLE $ 1627 LOWER $ 1.10
The metals markets continue to be divided as we see the gold remain relatively strong as the safe haven bid continues to support the price discovery well above 1600. Greece avoided exiting the Euro currency zone as the Greek citizens elected political parties who favored an international bailout deal however, the region’s debt crisis remains prevalent.
The G20 is currently meeting in Las Cabos, Mexico and as one would expect, the Euro crisis is dominating those talks as well. The official statement is not yet been released but the stern warnings that any further bungling of the handling of the EU crisis could lead to a significant global downturn for equity.
Its looks that traders are remaining tentative as they wait to hear news from the FOMC’s Tuesday – Wednesday meeting this week. Stimulus ? or No Stimulus ?
TODAY LEVEL
RESISTANCE # 2…………. $1646.00
RESISTANCE # 1…………. $1637.00
PIVOT………………..…… .$1622.00
SUPPORT # 1……………....$1612.00
SUPPORT # 2……………....$1598.00
MCX
RESISTANCE # 2…………. INR 30575
RESISTANCE # 1…………. INR 30450
PIVOT…………………..… .INR 30200
SUPPORT # 1……………....INR 30080
SUPPORT # 2……………....INR 29850
Happy Trading
Rahul Kumar
Gold Analysist (Future & Spot)
Call me : 969-0022-884
The metals markets continue to be divided as we see the gold remain relatively strong as the safe haven bid continues to support the price discovery well above 1600. Greece avoided exiting the Euro currency zone as the Greek citizens elected political parties who favored an international bailout deal however, the region’s debt crisis remains prevalent.
The G20 is currently meeting in Las Cabos, Mexico and as one would expect, the Euro crisis is dominating those talks as well. The official statement is not yet been released but the stern warnings that any further bungling of the handling of the EU crisis could lead to a significant global downturn for equity.
Its looks that traders are remaining tentative as they wait to hear news from the FOMC’s Tuesday – Wednesday meeting this week. Stimulus ? or No Stimulus ?
TODAY LEVEL
RESISTANCE # 2…………. $1646.00
RESISTANCE # 1…………. $1637.00
PIVOT………………..…… .$1622.00
SUPPORT # 1……………....$1612.00
SUPPORT # 2……………....$1598.00
MCX
RESISTANCE # 2…………. INR 30575
RESISTANCE # 1…………. INR 30450
PIVOT…………………..… .INR 30200
SUPPORT # 1……………....INR 30080
SUPPORT # 2……………....INR 29850
Happy Trading
Rahul Kumar
Gold Analysist (Future & Spot)
Call me : 969-0022-884
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