GOLD SETTLE $ 1621.80 HIGHER $ 24.10
Overnight trade was fairly light with the exception of the metals and energies. The crude oil spiked higher due to potentially inflammatory rhetoric out of Iran as news that the newly sanctioned oil producer was conducting missile tests for weapons that were capable of striking Israel. This comes just after the July 1st European Oil sanctions went into effect as a punitive measure to Iran’s insistence on pursuing nuclear technology congruent with weapons manufacturing. Higher crude oil price support yellow metals to close higher.
Crude Oil and precious metals rallied strong on hints that central banks from Europe to China may implement monetary easing to jump start their sluggish economies. The European Central Bank is expected to cut interest rates to help slow the regions debt crisis. Cutting rates and monetary easing are historically “bullish” precious metals.
COMEX/NYMEX MARKETS CLOSED WEDNESDAY 7/4 IN OBSERVANCE OF INDEPEDENCE DAY!
LEVEL FOR JULY 05th
RESISTANCE # 2…………. $1644.00
RESISTANCE # 1…………. $1633.00
PIVOT……………………… .$1614.00
SUPPORT # 1……………....$1603.00
SUPPORT # 2……………....$1584.00
TODAY MCX LEVEL
RESISTANCE # 2…………..INR 29700
RESISTANCE # 1…………. INR 29580
PIVOT……………………… .INR 29505
SUPPORT # 1……………....INR 29390
SUPPORT # 2……………....INR 29320
Happy Trading
Rahul Kumar
Gold Analysist (Spot & Future)
http://hansrajconsualtant.tk/
Call me : 969-0022-884
Overnight trade was fairly light with the exception of the metals and energies. The crude oil spiked higher due to potentially inflammatory rhetoric out of Iran as news that the newly sanctioned oil producer was conducting missile tests for weapons that were capable of striking Israel. This comes just after the July 1st European Oil sanctions went into effect as a punitive measure to Iran’s insistence on pursuing nuclear technology congruent with weapons manufacturing. Higher crude oil price support yellow metals to close higher.
Crude Oil and precious metals rallied strong on hints that central banks from Europe to China may implement monetary easing to jump start their sluggish economies. The European Central Bank is expected to cut interest rates to help slow the regions debt crisis. Cutting rates and monetary easing are historically “bullish” precious metals.
COMEX/NYMEX MARKETS CLOSED WEDNESDAY 7/4 IN OBSERVANCE OF INDEPEDENCE DAY!
LEVEL FOR JULY 05th
RESISTANCE # 2…………. $1644.00
RESISTANCE # 1…………. $1633.00
PIVOT……………………… .$1614.00
SUPPORT # 1……………....$1603.00
SUPPORT # 2……………....$1584.00
TODAY MCX LEVEL
RESISTANCE # 2…………..INR 29700
RESISTANCE # 1…………. INR 29580
PIVOT……………………… .INR 29505
SUPPORT # 1……………....INR 29390
SUPPORT # 2……………....INR 29320
Happy Trading
Rahul Kumar
Gold Analysist (Spot & Future)
http://hansrajconsualtant.tk/
Call me : 969-0022-884
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