Monday, June 6, 2011

Gold Updates


GOLD Updates For Today : (June)
Over all trend is bullish due to inflation concerns, euro region debt concerns and steady interest rate indication by Fed and sign of sluggish economic growth. 

Last week it was made a high 22750 which is near to strong resistance 22800 after made a low of 22455 and finally closed at 22661 with a smart gained. 

On a technical front, we may consider support 22600-22620 are a good support and resistance watch out 22772-22800. 

Buy on Decline......

Comex : Trend is remain up in Comex S MACD is also positive side. In near term, we consider resistance US # 1551 and support 1505... Break out in either side minimum 50-100 point move cannot be ruled out. In coming months, Gold will outperform Silver.

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