WEEKLY GOLD TREND FOR WEEK STARTING AUG 27 (MON)

GOLD COMEX (GCZ12) SETTLE $ 1672.90

A decent move in Gold future last week (1619.20-1672.90) approx $ 53 hope more QE will be place near future in FOMC mintue. 

But on the top as I hinted my last issue regualerly...........Gold and Silver dont need any QE tomove higher....It is very near to a Super trend startting.     The time defintely will come soon when gold bugs see movement more that $ 100 in daily trading and $ 2-3 in silver also.

I am not going to much technically or fundamentaly on this issue.......insted of that I want to share my stertegy for Gold and Silver just look up :

GOLD : AS I HINTED GOLD NOT MOVE BELOW $ 1580 (Gold traded at $ 1609 that time) WE BOUGHT GOLD AT $ 1606 WITH SL $ 1585 AND CLOSED OUR ALL POSITION AT $ 1665 LAST WEEK.

NOW WE ARE WAITING FOR ANY CORRECTION TOWARDS $ 1640-45 TO BUY AGAIN WITH A SL BELOW $ 1600 FOR TGT $ 1730 $ 1835 AND MORE FOR DEC FUTURE (also we will buy a satisfactory weekly or daily closing)

SILVER : THE SAME STORY FIRST  I HINTED FOR A BOTTAM AT $  27 (BOUGHT AT $ 27.85 AND CLOSE AT $ 29.60) AND AGAIN BOUGHT AT $ 30.30 WITH SL BELOW $ 29.45 FOR TGT $ 31.45 $ 32.90 AND MORE

Would you, too,  like profit from the monster-wave in the precious metals on large scale?  Do u require a service that, monitor , control , analyzis and Signal for you  all improtant  move in Gold and Silver? If so,
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TODAY LEVEL

RESISTENCE #2.................. $ 1685
RESISTENCE #1...................$ 1678
PIVOT ..................................$  1671
SUPPORT #1........................$ 1666
SUPPORT #2........................$ 1659

Happy Trading

Rahul Kumar
Gold Specialist

Write me : comexgoldfuture@yahoo.com






     

SURPRISE-SURPRISE........ITS A BUYING SIGNAL FOR PRECIOUS METALS

GOLD COMEX SETTLE $ 1619.20 (GCZ12)

Both silver and gold close above 100 days moving average showing buyer were present in the mkt at lower level. The precious metals at the end of last week again approached the top end of the huge bases they have been building since May.  Gold and silver dropped back a little yesterday to take a breather.  Nevertheless, they are ready to probe the top layer of overhead resistance that has been keeping their price contained.

The next step is for gold to break above $1630 and silver to break above $28.30, and when it happens it will signal their long awaited breakout from these 3-month bases.  Hopefully these two hurdles will fall on the same day.  If they do, it will signal real strength because both precious metals are confirming each other by breaking out of their base at the same time. 

  Slowly but steadily gold has been pulling away from $1580, while silver has been pulling away from $27.  As I have been saying, I think those prices are history.  We won't see them again.

Clearly the precious metals will soar if the Fed or ECB announces more quantitative easing.  But gold and silver don't need QE to move higher.  Given all of the financial uncertainty out there, there are numerous problems that we know about which could be the trigger lighting the spark to send the precious metals higher.

TODAY LEVEL (08/17)

RESISTENCE #2........................$ 1633

RESISTENCE #1........................$ 1626

PIVOT........................................$ 1615

SUPPORT #1.............................$ 1607

SUPPORT #2.............................$ 1595

Happy Trading

Rahul Kumar

Gold Specialist

Call me for trade set-up : +91 895-8173-410

Join us : http://hansrajconsualtant.tk

  

WEEKLY GOLD TREND FOR WEEK STARTING AUG 6TH

GOLD SETTLE ON MONDAY $ 1616.20 (GCZ12)

Leading up to last week's news, markets finished strong in anticipation of favorable news from multiple central banks, most importantly the United States and the ECB. Mario Draghi released a statement suggesting he would take any and all measures necessary to protect the Euro, and his statements were later backed by Germany and France. A strong Euro dropped the value of the US Dollar, and the buying in markets like the precious Metals ensued.

According to my analysis (which should be confirm Tuesday closing) the Precious metals mkt  trading at stage,  where buying on dip will be better opetion to trade.   I think with the 70-80% probabilty the gold bugs not get chance to buy gold and silver below $ 1580 and $ 27 respectively.   Now the main resitence laying at $ 1646 which can be tested end of this week.

TODAY LEVEL

RESISTENCE #2.......................... $ 1627
RESSITENCE #1...........................$ 1621
PIVOT ..........................................$ 1613
SUPPORT #1................................$ 1608
SUPPORT #2................................$ 1600

MCX

RESISTENCE #2.......................... INR 30070
RESSITENCE #1...........................INR 30000
PIVOT ..........................................INR 29930
SUPPORT #1................................INR 29850
SUPPORT #2................................INR 29780

Happy Trading

Rahul Kumar
Gold Specialist (Spot & Future)

Call me : +91 895-8173-410

For Corporate clients : Call timing 6.00-8.00 PM  (Indian timing)

GOLD TREND FOR AUG 02nd

FED TAKE NO NEW STEPS ON WEDENSDAY MEETS: GOLD SETTLE $ 1607.30 (GCZ12)

FOMC  officials left rates unchanged, as expected, and largely left the post-meeting statement unchanged as well. Some investors might have been anticipating the Fed to signal more convincing signs of quantitative easing. The kneejerk reaction sent yellow metal lower, but the selling not gathered any significant momentum .  

The day’s other news included ADP’S monthly jobs report that showed the US economy added 163,000 private sector jobs last month. The number was almost 40,000 better-than-expected and comes ahead of the Labor Department’s widely-watched report Friday.

The all eyes now on European Central Bank rate announcement and Mario Draghi’s comments at the accompany press conference will dominate Thursday.

TODAY LEVEL (GCZ12)

RESISTENCE #2......................... $ 1631
RESISTENCE #1......................... $ 1621
PIVOT ........................................ $ 1607
SUPPORT #1.............................. $ 1594
SUPPORT #2.............................. $ 1583

MCX (OCT FUTURE)

RESISTENCE #2.................. INR 30300
RESISTENCE #1.................. INR 30180
PIVOT.................................. INR 30050
SUPPORT #1....................... INR 29920
SUPPORT #2....................... INR 29790


Happy Trading

Rahul Kumar
Gold Specialist (Spot & Future)

Call : +91 895-8173-410

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