MCX Gold June : Buy around 30100 levels with a stop loss placed below 30000 levels for targets of 30400 levels.
Thursday, 28 March 2013
Gold prices recovered
Gold prices recovered from the support zone of Rs
29400- 29350, fresh buying for intraday expected above Rs 29700. Gold
prices are expected to trade within the range from Rs 29850 to Rs 29400,
one can trade within the range.
Wednesday, 27 March 2013
Buy Gold, Silver on decline: Nirmal Bang
Precious metals prices rose yesterday snapping a three-day losing
streak, as renewed euro zone worries and hopes the Federal Reserve will
continue its loose monetary policy triggered bullion buying. Holdings
in the SPDR Gold Trust, the world's largest gold-backed
exchange traded fund, stood at 1221.26 tonnes by Mar 27, remains
unchanged from the previous business day. Holdings in the world's
largest silver
backed exchange-traded fund iShares Silver Trust stood at 10703.59
tonnes by Mar 27, up by 15.03 tonnes from the previous business day.
U.S. derivatives exchange CME Group Inc CME.O said on Wednesday it will make platinum, palladium and copper floortraded options accessible to its gold and silver option pits in a bid to boost floor trading volume in New York. Turkey's central bank raised the amount of gold and forex that lenders have to provide to hold a portion of their required reserves in the commodity and in foreign exchange, a move which will boost the central bank's gold and forex reserves.
Fundamental outlook:
Precious metals prices are trading firm on COMEX today. We do not expect any major fall in the prices of bullions on account of the ongoing loose monetary policy by US Fed. Buying at dips is recommended for the day.(Moneycontrol)
U.S. derivatives exchange CME Group Inc CME.O said on Wednesday it will make platinum, palladium and copper floortraded options accessible to its gold and silver option pits in a bid to boost floor trading volume in New York. Turkey's central bank raised the amount of gold and forex that lenders have to provide to hold a portion of their required reserves in the commodity and in foreign exchange, a move which will boost the central bank's gold and forex reserves.
Fundamental outlook:
Precious metals prices are trading firm on COMEX today. We do not expect any major fall in the prices of bullions on account of the ongoing loose monetary policy by US Fed. Buying at dips is recommended for the day.(Moneycontrol)
Gold trend 28/03/2013
Trend updated
for-Mar/28/2013.CMP-29632 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 BUY signal .In last 1 month
volatality is very less and fresh Buy can be considered in the Gold
if it close above30009 or buy with strict stop at 29143. The Gold is
now trading in overbought level. The Gold is now trading in
overbought level. The oscillator is showing BUY signal For short term
The current position is BUY .Positionally Support for the Gold
is 29444-29441-.Resistance for the Gold is 29758-30006-30299-30529-
Currently Gold is in HOLD SHORT position Gold
is showing some Up momentum So buy above 29627.0 with stop at 29342.0
The oscillator is showing SELL signal
Intraday Trend- Buy is advised only above 29776.6 with a stop at 29530.2 Below 29487.7 go for sell and put stop at 29733.9
Intraday Trend- Buy is advised only above 29776.6 with a stop at 29530.2 Below 29487.7 go for sell and put stop at 29733.9
Intraday Resistance of GOLD are 29761.9/29869.8/29908.2/29994.7
Intraday Support of GOLD are 29502.1/29394.2/29220.5/29135
Tuesday, 26 March 2013
Gold to trade lower today; Silver sideways
Karvy Commodities Broking has come out with its report on bullion and energy. According to the research firm, gold is expected to trade lower in today's trading session. The silver
market has been trading in a sideways fashion for the past four weeks.
One can expect the same trend to continue in silver today as well.
Gold: Today is going to be another alarming session for gold. We are expecting the volatility to grow in today's market. The fragile euro is making the market worse; asset classes have remained lower as optimism from the Cyprus bailout faded. Therefore, we are expecting the euro to remain weak in today's trading session. There are no data expected from the euro-zone today. This should keep gold prices on a bearish trend today. We also expect the market to remain mostly in a holding pattern. Equities might continue to stay bearish, currencies might extend their weakness which should have a negative impact on gold. As the day proceeds, gold would most likely take cues from the euro's performance. As for economic indicators, we have a few from the US in the form of durable goods orders, new home sales, which are expected to be better-than-expected which could have a positive impact on the dollar. Gold might come under pressure due to these factors. Overall, we expect gold to trade lower in today's trading session. The domestic gold market however is going to be a little mixed. The rupee is depreciating today from its previous day's gain, which should support MCX gold to trade higher or restrict it from making a huge loss. Interestingly, ETF numbers have remained unchanged for the last three days at 1221.26 tons.
Silver: This morning, silver is seen trading flat at $28.80. We expect the market to remain steady today. However, any further weakness in gold bullion and base metals should pull silver prices down. The equities, which have been in negative territory since this morning, added pressure to silver prices. On the technical front, the silver market has been trading in a sideways fashion for the past four weeks. We expect the same trend to continue in silver today as well.
Gold: Today is going to be another alarming session for gold. We are expecting the volatility to grow in today's market. The fragile euro is making the market worse; asset classes have remained lower as optimism from the Cyprus bailout faded. Therefore, we are expecting the euro to remain weak in today's trading session. There are no data expected from the euro-zone today. This should keep gold prices on a bearish trend today. We also expect the market to remain mostly in a holding pattern. Equities might continue to stay bearish, currencies might extend their weakness which should have a negative impact on gold. As the day proceeds, gold would most likely take cues from the euro's performance. As for economic indicators, we have a few from the US in the form of durable goods orders, new home sales, which are expected to be better-than-expected which could have a positive impact on the dollar. Gold might come under pressure due to these factors. Overall, we expect gold to trade lower in today's trading session. The domestic gold market however is going to be a little mixed. The rupee is depreciating today from its previous day's gain, which should support MCX gold to trade higher or restrict it from making a huge loss. Interestingly, ETF numbers have remained unchanged for the last three days at 1221.26 tons.
Silver: This morning, silver is seen trading flat at $28.80. We expect the market to remain steady today. However, any further weakness in gold bullion and base metals should pull silver prices down. The equities, which have been in negative territory since this morning, added pressure to silver prices. On the technical front, the silver market has been trading in a sideways fashion for the past four weeks. We expect the same trend to continue in silver today as well.
Monday, 25 March 2013
Sell Gold April Fut at Rs 29650-29700
U.S. gold futures for April delivery settled down $1.60 at $1,604.50 an ounce. Gold prices were down as fears eased in the euro zone after Cyprus struck a deal with the European Union wiping out fears of a financial meltdown. However losses were limited after the leader of euro group finance ministers said that similar deals could be used for other troubled nations in euro zone, thus creating uncertainty.
Holdings of SPDR Gold Trust GLD, the world's biggest gold-backed exchange-traded were unchanged at 1,221.26 tonnes from a day earlier. Gold prices are expected to go down as improving outlook for US economy and a stronger dollar internationally is likely to put pressure on prices. Gold in India is also expected to go down. However a weaker rupee can limit the downside in prices Gold for April delivery on the Multi Commodity Exchange (MCX) was down by 0.35percent at INR 29,588/10gms.
MCX Gold (April): Sell- Rs 29650-29700, stoploss- Rs 29750, target- Rs 29400
Saturday, 23 March 2013
Gold trend 25/03/2013
Trend updated
for-Mar/25/2013.CMP-29676 Overall trend of the Gold is bearish for
medium-long term .Currently Gold is in strong uptrend with good
momentum and the trend is supported with good volume The open
interest is not increasing with trend . In last few days lot of
positive accumulation happened in the Gold Cautious point is buying
at higer levels seems decreasing. The Gold is now trading in
overbought level. The Gold is now trading in overbought level. The
oscillator is showing BUY signal For short term The current position
is BUY .Positionally Support for the Gold is
29460-29448-29391-.Resistance for the Gold is 30074-30360-30633-
Currently Gold is in HOLD LONG position Gold
is moving sideways so short term investor better to buy only above
29889.0 with stop at 29440.0 The Gold is now trading is approaching
overbought level. The oscillator is on SELL signal and Gold is coming
down from overbought level
Intraday Trend- Buy is advised
above 29960.2 with a stop at 29504.7 Below 29392.7 go for
sell
Intraday Resistance of GOLD are 29761.3/29832.1/30057.1/30143.8
Intraday Support of GOLD are 29590.7/29519.9/29367.6/29282
Intraday Resistance of GOLD are 29761.3/29832.1/30057.1/30143.8
Intraday Support of GOLD are 29590.7/29519.9/29367.6/29282
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