Gold :---
On weekly basis, Spot costs of Gold thrown between gains and losses and settled 0.1 % lower on Friday. The gold touched a weekly low of $1,589.69/oz and closed at $1,615.3/oz on Friday. In the domestic market gold costs improved 0.4 % in the the other day. Holdings in the SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, improved by 1.32 % and stood at 1274.739 lots till Aug 17, 2012 as against 1258.15 lots in weeks time ended Aug 10, 2012.
Points that influenced gold prices :—
1. Strength in the US Dollar Index (DX).
2. Weak economic data from the China.
Expectation of incitement measures from the major countries which shock absorbing sharp fall in the prices and positive declaration by the In in german Chancellor Angela Merkel backing European Central Bank’s conditional plan of bond buying.
Spot Gold : Support 1610/1594 Resistance 1631/1647. (CMP: 1621.26) Buy MCX Gold October between 30,080-30,060, SL-30,000, Target - 30,250/30,350 (CMP : 30200 ).
Silver :---
Spot Silver costs dropped 0.1 % in the the other day . MCX Silver increased 0.2 % in the the other day due to decline in the Indian rupee. The white metal moved a every week low of $27.5/oz and shut at $28.05/oz while in the domestic industry MCX silver costs shut at Rs.53,610/kg after in contact with a high Rs.53,890/kg. Mixed global industry emotions. Benefit in the base materials shock absorbing sharp fall. While strength in the DX applied downside pressure.
Factors that influenced copper prices :----
1. Mixed international market emotions. Benefit in the platform materials shock absorbing distinct fall. While strength in the DX applied disadvantage pressure.
2. However, anticipations of incitement actions along with good declaration from the In in german chancellor to back connection purchasing plan of the ECB reinforced an benefit in the costs towards the end of the week.
Buy MCX Silver September between 53,350-53,300, SL-52,900, Target - 54,230.(CMP: 54624) Spot Silver : Support 27.82/27.58 Resistance 28.43/28.81 (CMP: 28.80)
On weekly basis, Spot costs of Gold thrown between gains and losses and settled 0.1 % lower on Friday. The gold touched a weekly low of $1,589.69/oz and closed at $1,615.3/oz on Friday. In the domestic market gold costs improved 0.4 % in the the other day. Holdings in the SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, improved by 1.32 % and stood at 1274.739 lots till Aug 17, 2012 as against 1258.15 lots in weeks time ended Aug 10, 2012.
Points that influenced gold prices :—
1. Strength in the US Dollar Index (DX).
2. Weak economic data from the China.
Expectation of incitement measures from the major countries which shock absorbing sharp fall in the prices and positive declaration by the In in german Chancellor Angela Merkel backing European Central Bank’s conditional plan of bond buying.
Spot Gold : Support 1610/1594 Resistance 1631/1647. (CMP: 1621.26) Buy MCX Gold October between 30,080-30,060, SL-30,000, Target - 30,250/30,350 (CMP : 30200 ).
Silver :---
Spot Silver costs dropped 0.1 % in the the other day . MCX Silver increased 0.2 % in the the other day due to decline in the Indian rupee. The white metal moved a every week low of $27.5/oz and shut at $28.05/oz while in the domestic industry MCX silver costs shut at Rs.53,610/kg after in contact with a high Rs.53,890/kg. Mixed global industry emotions. Benefit in the base materials shock absorbing sharp fall. While strength in the DX applied downside pressure.
Factors that influenced copper prices :----
1. Mixed international market emotions. Benefit in the platform materials shock absorbing distinct fall. While strength in the DX applied disadvantage pressure.
2. However, anticipations of incitement actions along with good declaration from the In in german chancellor to back connection purchasing plan of the ECB reinforced an benefit in the costs towards the end of the week.
Buy MCX Silver September between 53,350-53,300, SL-52,900, Target - 54,230.(CMP: 54624) Spot Silver : Support 27.82/27.58 Resistance 28.43/28.81 (CMP: 28.80)
