GOLD SETTLE $ 1565.30 LOWER $ 10
Follow through...... Wednesday..... It was a mild “risk-off” trading day in the market place Thursday. This follows Wednesday afternoon’s FOMC minutes from the Federal Reserve that confirmed a sluggish U.S. economy, but provided no fresh clues on any upcoming Fed monetary-policy-easing moves. Yesterday U S labour department reported that number of application for jobless claim down to 26000 put more pressure on yellow metal in the time of Morning session of Comex.
After making low $ 1554.40 (CST 10AM) Precious metal starting pull back On a slightly positive note coming out of the European Union, Italian government shorter-term borrowing costs have backed off just a bit, which hints that the EU debt crisis has stabilized, for the moment at least.
"SO FOR GOLD, WHILE THE INITITAL INDIICATORS ARE NOT SO GOOD, THERE IS STILL TIME FOR SOME OPTIMISM TO GROW"
RECOMMENDATION : WE BOUGHT GOLD YESTERDAY $ 1560 WITH STRICT SL BELOW $ 1547 CLOSING BASIS (as we mention in our weekly report on Monday)
TODAY LEVEL
RESISTENCE #2........................ $ 1588
RESISTENCE #1.........................$ 1576
PIVOT .........................................$ 1566
SUPPORT #1...............................$ 1554
SUPPORT #2...............................$ 1544
MCX LEVEL
RESISTENCE #2........................ INR 29410
RESISTENCE #1.........................INR 29330
PIVOT .........................................INR 29240
SUPPORT #1...............................INR 29140
SUPPORT #2...............................INR 29070
Happy Trading
Rahul Kumar
Gold Specialist (Spot & Future)
Call me : 969-0022-884
Join us : http://www.hansrajconsualtant.tk/
Follow through...... Wednesday..... It was a mild “risk-off” trading day in the market place Thursday. This follows Wednesday afternoon’s FOMC minutes from the Federal Reserve that confirmed a sluggish U.S. economy, but provided no fresh clues on any upcoming Fed monetary-policy-easing moves. Yesterday U S labour department reported that number of application for jobless claim down to 26000 put more pressure on yellow metal in the time of Morning session of Comex.
After making low $ 1554.40 (CST 10AM) Precious metal starting pull back On a slightly positive note coming out of the European Union, Italian government shorter-term borrowing costs have backed off just a bit, which hints that the EU debt crisis has stabilized, for the moment at least.
"SO FOR GOLD, WHILE THE INITITAL INDIICATORS ARE NOT SO GOOD, THERE IS STILL TIME FOR SOME OPTIMISM TO GROW"
RECOMMENDATION : WE BOUGHT GOLD YESTERDAY $ 1560 WITH STRICT SL BELOW $ 1547 CLOSING BASIS (as we mention in our weekly report on Monday)
TODAY LEVEL
RESISTENCE #2........................ $ 1588
RESISTENCE #1.........................$ 1576
PIVOT .........................................$ 1566
SUPPORT #1...............................$ 1554
SUPPORT #2...............................$ 1544
MCX LEVEL
RESISTENCE #2........................ INR 29410
RESISTENCE #1.........................INR 29330
PIVOT .........................................INR 29240
SUPPORT #1...............................INR 29140
SUPPORT #2...............................INR 29070
Happy Trading
Rahul Kumar
Gold Specialist (Spot & Future)
Call me : 969-0022-884
Join us : http://www.hansrajconsualtant.tk/
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