Cash gold
slipped 1 percent to its weakest in 10 months at $1,541.24 an ounce
after a steep decline in equities and a disappointing U.S.
private-sector job report prompted investors to cash in bullion to cover
losses.
Gold,
a traditional safe haven, also failed to capitalise on tensions in the
Korean Peninsula, where North Korea has moved what appears to be a
mid-range Musudan missile to its east coast, according to South Korea's
Yonhap news agency.
Thursday, 4 April 2013
Wednesday, 3 April 2013
Sell Gold for target of Rs 29200-29000
Gold prices have witnessed a break down breaching 29800; we expect the
pressure to continue. One should sell the precious metal for the down
side target at 29200-29000.
Tuesday, 2 April 2013
Gold news
Trend updated
for-Apr/03/2013.CMP-29149 Overall trend of the Gold is bearish for
medium-long term.Currently Gold is showing some down move and trend
is strong but volume is unsatisfactory The open interest is not
increasing with trend .. The Gold is now trading in overbought level.
The Gold is now trading in overbought level. The oscillator is
showing SELL signal For short term Gold is in HOLD SHORT
position.Positionally Immediate support for Gold is
29004.Resistance for the Gold is 29628-29656-29666-29949-30217-30453-
Currently Gold is in SELL position The Gold
is in downtrend For short term buy only if close above 29505.0 The
oscillator is showing SELL signal
Intraday Trend- Buy is advised above 29335.4 with a stop at 29026.9 Below 28963.1 go for sell
Intraday Resistance of GOLD are 29370.5/29554.4/29607.8/29693.9
Intraday Support of GOLD are 28927.5/28743.6/28923.5/28838.6
Gold news
|
Trend updated
for-Apr/02/2013.CMP-29486 Overall trend of the Gold is bearish for
medium-long term .Currently Gold is moving sideways The Gold is
now trading in overbought level. The Gold is now trading in
overbought level. The oscillator is showing SELL signal .In last 1
month volatality is very less Buy the Gold above 30009 or buy with
strict stop at 29137. The Gold is now trading in overbought level.
The Gold is now trading in overbought level. The oscillator is
showing SELL signal For short term Gold is in HOLD SHORT
position.Positionally Immediate support for Gold is
29137.Resistance for the Gold is
29652-29682-29710-29965-30243-30474-
Currently Gold is in HOLD SHORT position
Gold is in sideways so for short term better buy above 29647.0
with stop at 29254.0 The oscillator is showing SELL signal
Intraday Trend- Buy is advised only above 29674.5 with a stop at 29362.5 Below 29298 go for sell and put stop at 29609.8 Intraday Resistance of GOLD are 29572.2/29643.7/29799.9/29886.3 Intraday Support of GOLD are 29399.8/29328.3/29113.4/29028.2 |
Gold news
Mangal Keshav has come out with its technical alerts on bullion. According to the research firm, Gold
June futures are trading below crucial resistance of Rs 30,300 &
trend remains down till the given level holds. Since, the overall trend
still remains bearish one can sell on rally. Other Resistance are seen
at Rs 30,818 (200-day SMA) & Rs 30,392 (100-day SMA).
Gold futures recovered from early losses to close higher, reclaiming the USD 1,600 per ounce level as the market found some safe-haven buying after
weaker-than-expected data on US manufacturing sector.
Gold holdings of SPDR gold trust, the largest ETF backed by the precious metal, declined to 1,217.05 tons, as on April 1.
Silver holdings of ishares silver trust, the largest ETF backed by the metal, declined to 10,703.59 tons, as on April 1.
The Japanese yen rose against the dollar on Monday, while the greenback extended losses against its major rivals after data showed an unexpected decline in a US manufacturing gauge.
The dollar index, which measures greenback’s performance against six other major currencies, slipped to 82.744 on Monday afternoon from 82.998 on Friday.
The Bank of Japan is scheduled to meet on April 3-4, and February’s contraction in industrial production may have strengthened the case for more quantitative easing. Japanese Prime Minister Shinzo Abe has pressured the central bank to implement aggressive monetary easing to boost the economy.
Copper futures declined to the lowest in almost 8-months, after an industry report on manufacturing signaled demand may ease in China & US, the world’s biggest user of industrial metals.
Copper futures for May delivery closed down by 0.8 percent at USD 3.3745 on the COMEX division of the NYMEX.
Copper stockpiles monitored by the Shanghai Futures Exchange rose to 247,591 tons last week, the highest in at least 10-years. In the first quarter of CY2013, inventory tracked by the London Metal Exchange surged 78 percent to 569,775 tons, the highest since October 2003.
Crude oil futures declined for the first time in past six sessions, due to slow pace of expansion in the US manufacturing sector, which bodes ill for potential energy demand.
However, oil prices later recovered from session’s low to hold ground above USD 97 per barrel, as petroleum-product prices found some support from a potential threat to supply.
Natural gas futures declined on NYMEX for the second straight session, on expectations that demand for heating fuels will ease with milder US weather.
Technical Alerts
Gold: June futures are trading below crucial resistance of 30,300 & trend remains down till the given level holds. Since, the overall trend still remains bearish we advise selling on rallies. Other Resistance are seen at 30,818 (200-day SMA) & 30,392 (100-day SMA).
Spot Gold: Prices are currently trading below their long term Simple Moving Averages (SMA’s)… indicating that the trend remains bearish. Strong resistances are seen at USD 1,664.4 (200-day SMA), USD 1,620.6 (50-day SMA) & USD 1,658 (100-SMA day).
( http://www.moneycontrol.com/news/brokerage-recos-commodities/sell-gold-june-fut-resistance-at-rs-30818-mangal-keshav_845532.html)
Gold futures recovered from early losses to close higher, reclaiming the USD 1,600 per ounce level as the market found some safe-haven buying after
weaker-than-expected data on US manufacturing sector.
Gold holdings of SPDR gold trust, the largest ETF backed by the precious metal, declined to 1,217.05 tons, as on April 1.
Silver holdings of ishares silver trust, the largest ETF backed by the metal, declined to 10,703.59 tons, as on April 1.
The Japanese yen rose against the dollar on Monday, while the greenback extended losses against its major rivals after data showed an unexpected decline in a US manufacturing gauge.
The dollar index, which measures greenback’s performance against six other major currencies, slipped to 82.744 on Monday afternoon from 82.998 on Friday.
The Bank of Japan is scheduled to meet on April 3-4, and February’s contraction in industrial production may have strengthened the case for more quantitative easing. Japanese Prime Minister Shinzo Abe has pressured the central bank to implement aggressive monetary easing to boost the economy.
Copper futures declined to the lowest in almost 8-months, after an industry report on manufacturing signaled demand may ease in China & US, the world’s biggest user of industrial metals.
Copper futures for May delivery closed down by 0.8 percent at USD 3.3745 on the COMEX division of the NYMEX.
Copper stockpiles monitored by the Shanghai Futures Exchange rose to 247,591 tons last week, the highest in at least 10-years. In the first quarter of CY2013, inventory tracked by the London Metal Exchange surged 78 percent to 569,775 tons, the highest since October 2003.
Crude oil futures declined for the first time in past six sessions, due to slow pace of expansion in the US manufacturing sector, which bodes ill for potential energy demand.
However, oil prices later recovered from session’s low to hold ground above USD 97 per barrel, as petroleum-product prices found some support from a potential threat to supply.
Natural gas futures declined on NYMEX for the second straight session, on expectations that demand for heating fuels will ease with milder US weather.
Technical Alerts
Gold: June futures are trading below crucial resistance of 30,300 & trend remains down till the given level holds. Since, the overall trend still remains bearish we advise selling on rallies. Other Resistance are seen at 30,818 (200-day SMA) & 30,392 (100-day SMA).
Spot Gold: Prices are currently trading below their long term Simple Moving Averages (SMA’s)… indicating that the trend remains bearish. Strong resistances are seen at USD 1,664.4 (200-day SMA), USD 1,620.6 (50-day SMA) & USD 1,658 (100-SMA day).
( http://www.moneycontrol.com/news/brokerage-recos-commodities/sell-gold-june-fut-resistance-at-rs-30818-mangal-keshav_845532.html)
Gold news and trend
Bullion: Gold futures were trading higher on local
bourses tracking the rise in COMEX contracts, which rose due to weakness
in the dollar against the euro and safe-haven buying. The Indian forex
market was closed as banks were shut due to annual closure of accounts.
Trading was thin as UK, Australia and Hong Kong markets are closed for
Easter holiday.
Monday, 1 April 2013
Gold news and trend
Trend updated
for-Apr/01/2013.CMP-29394 Overall trend of the Gold is bearish for
medium-long term .Currently Gold is moving sideways The Gold is now
trading in overbought level. The Gold is now trading in overbought
level. The oscillator is showing SELL signal .In last 1 month
volatality is very less Buy the Gold above 30009 or buy with strict
stop at 29137. The Gold is now trading in overbought level. The Gold
is now trading in overbought level. The oscillator is showing SELL
signal For short term Gold is in HOLD SHORT position.Positionally
Immediate support for Gold is 29137.Resistance for the Gold is
29661-29682-29749-29973-30262-30490-
Currently Gold is in HOLD SHORT position The
Gold is in downtrend For short term buy only if close above 29574.0
The oscillator is showing BUY signal
Intraday Trend- Buy is advised above 29638.2 with a stop at 29242.9 Below 29150.6 go for sell
Intraday Resistance of GOLD are 29512.6/29611/29716.4/29802.7
Intraday Support of GOLD are 29275.4/29177/29030.9/28945.8
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