MCX Gold June Contract is looking negative for the day.
Market may find support near 29140 & 29040; intraday resistance can
be seen near 29290 & 29400. Day traders are advised to sell
intraday on rise. (Sell around 29290 with SL 29400, for the target of
29140 & 29040.)
Friday, 12 April 2013
Thursday, 11 April 2013
Gold news
Trend updated for-Apr/12/2013.CMP-28974 Overall
trend of the Goldm is bearish for medium-long term .Currently Goldm
is moving sideways The Goldm is now trading in overbought level. The
Goldm is now trading in overbought level. The oscillator is showing
BUY signal and has moved down its previous low with good volume
points to a negative break out . The Goldm is now trading in
overbought level. The Goldm is now trading in overbought level. The
oscillator is showing BUY signal For short term Goldm is in SELL
position and Goldm closed below 1 week low with volume signals down
breakout.Positionally Immediate support for Goldm is 28755.Resistance
for the Goldm is 29328-29425-29537-29613-29942-30160-
Goldm and closed below 1 week low with volume
signals down breakoutCurrently Goldm is in HOLD SHORT position
The Goldm is in downtrend For short term buy only if close above
29351.0 The oscillator is showing SELL signal
Intraday Trend- Buy is advised above 29147.3 with a stop at 28858.6 Below 28801.1 go for sell
Intraday Resistance of GOLDM are 29089.2/29184.8/29316.1/29401.8
Intraday Support of GOLDM are 28858.8/28763.2/28635.2/28550.7
Intraday Trend- Buy is advised above 29147.3 with a stop at 28858.6 Below 28801.1 go for sell
Intraday Resistance of GOLDM are 29089.2/29184.8/29316.1/29401.8
Intraday Support of GOLDM are 28858.8/28763.2/28635.2/28550.7
Wednesday, 10 April 2013
Gold news
Trend updated
for-Apr/11/2013.CMP-29025 Overall trend of the Goldm is bearish for
medium-long term .Currently Goldm is moving sideways The Goldm is now
trading in overbought level. The Goldm is now trading in overbought
level. The oscillator is showing BUY signal .In last 1 month
volatality is very less Buy the Goldm above 29818 or buy with strict
stop at 28524. The Goldm is now trading in overbought level. The
Goldm is now trading in overbought level. The oscillator is showing
BUY signal For short term Goldm is in SELL
position.Positionally Immediate support for Goldm is 28524.Resistance
for the Goldm is 29368-29473-29556-29641-29966-30182-
Goldm and closed below 1 week low with volume signals down breakoutCurrently Goldm is in HOLD LONG position Goldm has formed a new 5 day low yesterday but failed to keep the trend so if selling has to considered better below28687.8 Buy if above 29568.0 The oscillator is showing SELL signal
Intraday
Trend- Buy is advised above 29363.3 with a stop at 28827.4 Below
28687.8 go for sell
Intraday Resistance of GOLDM are 29304.7/29536.8/29508.6/29594.5
Intraday Support of GOLDM are 28745.3/28513.2/28825.4/28740.6
Intraday Resistance of GOLDM are 29304.7/29536.8/29508.6/29594.5
Intraday Support of GOLDM are 28745.3/28513.2/28825.4/28740.6
Gold has strong resistance at USD 1664.5: Mangal Keshav
Mangal Keshav has come out with its report on metal, Crude oil and Natural Gas. According to the research firm, 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 1664.5-1608.6 and USD 1 649.
Gold advanced to a 1-week high while silver jumped the most since January, on speculation that central bankers in major economies will take more steps to bolster their economies, boosting safe haven demand for the metals. Gold holdings of SPDR gold trust, the largest ETF backed by the precious metal, declined to 1,200.37 tons, as on April 9. Silver holdings of ishares silver trust, the largest ETF backed by the metal, declined to 10,497.59 tons, as on April 5.
The dollar pulled back against the Japanese currency & other rivals while the greenback is likely to hit the psychologically important 100- yen level on the wake of Japan’s aggressive monetary-stimulus efforts. The ICE dollar index, which measures the greenback against a basket of six major rivals, fell to 82.325 from 82.752 on late Monday. Japan's central bank unveiled a USD1.4 trillion stimulus plan last week, prompting speculation that cash will spill over into other regions in search of higher bond yields and not in assets denominated in the rapidly depreciating Japanese yen.
Copper hit its highest since late March while other metals too were up after the Chinese inflation data, which underpinned a steady but modest seasonal recovery in metals demand. Copper futures for May delivery closed up by 2.1percent at USD3.4415 on the COMEX division of the NYMEX. Crude oil futures recovered from early losses to top USD94 per barrel, as Iran fed worries about global supplies, outweighing pressure from high US inventory levels ahead of weekly supply report.
Expected inventories: Crude oil +1.2mn barrels, Gasoline -1mn barrels & Distillate -1.2mn barrels. Crude oil inventories gained 5.1mn barrels, gasoline supplies rose 1.96mn barrels while distillate inventories, a category that includes heating oil and diesel, slid 1.3mn barrels, as per API report. Natural gas futures declined for the for second straight session, as investors took profits amid mild weather forecasts for the eastern half of the nation, but concerns about below-average inventory levels limited major downside.
Technical Alerts-
Gold: June futures dropped close to 29,100 levels last week, but failed to break the given level & recovered sharply towards 50-day SMA at 29792, but prices still hold crucial resistance of 30,300 & trend remains down till the given level holds. Other Resistance are seen at 30,809 (200-day SMA) & 30,295 (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 USD1,664.5 (200-day SMA), USD1,608.6 (50-day SMA) & USD1,649 (100-SMA day).(moneycontrol)
Gold advanced to a 1-week high while silver jumped the most since January, on speculation that central bankers in major economies will take more steps to bolster their economies, boosting safe haven demand for the metals. Gold holdings of SPDR gold trust, the largest ETF backed by the precious metal, declined to 1,200.37 tons, as on April 9. Silver holdings of ishares silver trust, the largest ETF backed by the metal, declined to 10,497.59 tons, as on April 5.
The dollar pulled back against the Japanese currency & other rivals while the greenback is likely to hit the psychologically important 100- yen level on the wake of Japan’s aggressive monetary-stimulus efforts. The ICE dollar index, which measures the greenback against a basket of six major rivals, fell to 82.325 from 82.752 on late Monday. Japan's central bank unveiled a USD1.4 trillion stimulus plan last week, prompting speculation that cash will spill over into other regions in search of higher bond yields and not in assets denominated in the rapidly depreciating Japanese yen.
Copper hit its highest since late March while other metals too were up after the Chinese inflation data, which underpinned a steady but modest seasonal recovery in metals demand. Copper futures for May delivery closed up by 2.1percent at USD3.4415 on the COMEX division of the NYMEX. Crude oil futures recovered from early losses to top USD94 per barrel, as Iran fed worries about global supplies, outweighing pressure from high US inventory levels ahead of weekly supply report.
Expected inventories: Crude oil +1.2mn barrels, Gasoline -1mn barrels & Distillate -1.2mn barrels. Crude oil inventories gained 5.1mn barrels, gasoline supplies rose 1.96mn barrels while distillate inventories, a category that includes heating oil and diesel, slid 1.3mn barrels, as per API report. Natural gas futures declined for the for second straight session, as investors took profits amid mild weather forecasts for the eastern half of the nation, but concerns about below-average inventory levels limited major downside.
Technical Alerts-
Gold: June futures dropped close to 29,100 levels last week, but failed to break the given level & recovered sharply towards 50-day SMA at 29792, but prices still hold crucial resistance of 30,300 & trend remains down till the given level holds. Other Resistance are seen at 30,809 (200-day SMA) & 30,295 (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 USD1,664.5 (200-day SMA), USD1,608.6 (50-day SMA) & USD1,649 (100-SMA day).(moneycontrol)
Buy MCX Gold at Rs 29650; target Rs 29740
Dani Commodities has come out with its report on bullion, metals and energy. According to the research firm, one can buy MCX Gold at Rs 29650 with a stop loss of Rs 29600 for the target of Rs 29740.
Indian Cotton Federation Reduces Cotton Production Estimates To 326 Lakh Bales For 2012-13: As per the latest estimate by Indian Cotton Federation , Indian cotton production for 2012-13 is currently estimated at 326 lakh bales against 330 lakh bales projected by the Cotton Advisory Board (CAB) . Indian Cotton Federation estimated the Gujarat crop at 83 lakh bales , down 2 lakh bales from CAB estimates while Maharashtra at 74 lakh bales, down 1 lakh bales from other projections.
MCX GOLDInternational: Major Support at USD1580. Bearish below USD1580.
Domestic: Buy at 29650, Stoploss 29600, Target 29740.(Moneycontrol)
Indian Cotton Federation Reduces Cotton Production Estimates To 326 Lakh Bales For 2012-13: As per the latest estimate by Indian Cotton Federation , Indian cotton production for 2012-13 is currently estimated at 326 lakh bales against 330 lakh bales projected by the Cotton Advisory Board (CAB) . Indian Cotton Federation estimated the Gujarat crop at 83 lakh bales , down 2 lakh bales from CAB estimates while Maharashtra at 74 lakh bales, down 1 lakh bales from other projections.
MCX GOLDInternational: Major Support at USD1580. Bearish below USD1580.
Domestic: Buy at 29650, Stoploss 29600, Target 29740.(Moneycontrol)
Gold news
Trend updated
for-Apr/10/2013.CMP-29647 Overall trend of the Gold is bearish for
medium-long term .Currently Gold is in strong downtrend and the trend
is supported with good volume 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 BUY
signal For short term Gold is in HOLD LONG position.Positionally
Support for the Gold is 29377-29353-29280-.Resistance for the Gold is
29815-30100-30343-
Currently Gold is in HOLD LONG position Gold
is in profit booking mode so hold with stop at 29545 The Gold is now
trading is approaching overbought level. The oscillator is showing
BUY signal
Intraday Trend- Buy is advised only above 29869 with a stop at 29506.7 Below 29425.6 go for sell and put stop at 29787.7
Intraday Resistance of GOLD are 29809.4/29944.2/29945.8/30032.4
Intraday Support of GOLD are 29484.6/29349.8/29257.6/29172.1
Intraday Trend- Buy is advised only above 29869 with a stop at 29506.7 Below 29425.6 go for sell and put stop at 29787.7
Intraday Resistance of GOLD are 29809.4/29944.2/29945.8/30032.4
Intraday Support of GOLD are 29484.6/29349.8/29257.6/29172.1
Tuesday, 9 April 2013
Gold news
MCX Gold
June Contract is looking negative for the day. Market may find support
near 29460 & 29350; intraday resistance can be seen near 29640 &
29750. Day traders are advised to sell intraday on rise. (Sell around
29640 with SL 29750, for the target of 29460 & 29350.)
Spot Gold to face resistance at USD 1664.5: Mangal Keshav
Mangal Keshav has come out with its technical alerts on bullion. According to the research firm, 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 1,664.5 (200-day SMA), USD 1,608.6 (50-day
SMA) & USD 1,649 (100-SMA day).
Gold futures declined, after rising by the most since November in the previous session, as funds continues to cut bullion holdings for better investment yields elsewhere.
Gold futures in Tokyo jumped almost 5 percent to near all time-highs, marking their sharpest daily rise since Sept'11, after the yen dropped to near 4-year lows on reports that the Bank of Japan would begin buying longer-dated bonds immediately to beat deflation.
Gold holdings of SPDR gold trust, the largest ETF backed by the precious metal, declined to 1,205.31 tons, as on April 5.
Silver holdings of ishares silver trust, the largest ETF backed by the metal, declined to 10,497.59 tons, as on April 5.
The Japanese yen has dropped to its lowest level since 2008 against the US dollar, after the central bank began the latest round of its stimulus program.
The US dollar bought 99.21 yen on Monday, up from a settlement around ¥97.33 on late Friday in North American trade and well above ¥92.89 when the Bank of Japan announced new easing steps on Thursday.
The dollar index, which measures the greenback against a basket of six major rivals, jumped to 82.752 from 82.449 on Friday.
China's Yuan fell against the US dollar on late Monday, as the central bank guided it weaker along with other Asian currencies to track the Japanese yen's recent sharp losses.
Copper & other metals recovered marginally on Monday, rebounding from previous week's decline, as the euro gained ground against the dollar and a strike in Chile raised concerns over temporary supply constraints.
Copper futures for May delivery closed up by 0.8 percent at USD 3.371 on the COMEX division of the NYMEX.
Crude oil prices closed higher, lifted by gains in gasoline futures and strong selling of the spread between Brent crude and US crude.
Brent's premium to US West Texas Intermediate futures closed at USD 11.3 per barrel, after narrowing to just over USD 11 in afternoon trade, the lowest level since June.
Natural gas futures declined from a 20-month high on profit-booking, as warmer-than-normal temperatures arrived in key Mid-west and East Coast markets.
Technical Alerts
Gold: June futures dropped close to 29,100 levels last week, but failed to break the given level & recovered sharply towards 50-day SMA at 29792, but prices still hold crucial resistance of 30,300 & trend remains down till the given level holds. Other Resistance are seen at 30,809 (200-day SMA) & 30,295 (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 1,664.5 (200-day SMA), USD 1,608.6 (50-day SMA) & USD 1,649 (100-SMA day).(http://www.moneycontrol.com/news/brokerage-recos-commodities/spot-gold-to-face-resistance-at-usd-16645-mangal-keshav_849486.html)
Gold futures declined, after rising by the most since November in the previous session, as funds continues to cut bullion holdings for better investment yields elsewhere.
Gold futures in Tokyo jumped almost 5 percent to near all time-highs, marking their sharpest daily rise since Sept'11, after the yen dropped to near 4-year lows on reports that the Bank of Japan would begin buying longer-dated bonds immediately to beat deflation.
Gold holdings of SPDR gold trust, the largest ETF backed by the precious metal, declined to 1,205.31 tons, as on April 5.
Silver holdings of ishares silver trust, the largest ETF backed by the metal, declined to 10,497.59 tons, as on April 5.
The Japanese yen has dropped to its lowest level since 2008 against the US dollar, after the central bank began the latest round of its stimulus program.
The US dollar bought 99.21 yen on Monday, up from a settlement around ¥97.33 on late Friday in North American trade and well above ¥92.89 when the Bank of Japan announced new easing steps on Thursday.
The dollar index, which measures the greenback against a basket of six major rivals, jumped to 82.752 from 82.449 on Friday.
China's Yuan fell against the US dollar on late Monday, as the central bank guided it weaker along with other Asian currencies to track the Japanese yen's recent sharp losses.
Copper & other metals recovered marginally on Monday, rebounding from previous week's decline, as the euro gained ground against the dollar and a strike in Chile raised concerns over temporary supply constraints.
Copper futures for May delivery closed up by 0.8 percent at USD 3.371 on the COMEX division of the NYMEX.
Crude oil prices closed higher, lifted by gains in gasoline futures and strong selling of the spread between Brent crude and US crude.
Brent's premium to US West Texas Intermediate futures closed at USD 11.3 per barrel, after narrowing to just over USD 11 in afternoon trade, the lowest level since June.
Natural gas futures declined from a 20-month high on profit-booking, as warmer-than-normal temperatures arrived in key Mid-west and East Coast markets.
Technical Alerts
Gold: June futures dropped close to 29,100 levels last week, but failed to break the given level & recovered sharply towards 50-day SMA at 29792, but prices still hold crucial resistance of 30,300 & trend remains down till the given level holds. Other Resistance are seen at 30,809 (200-day SMA) & 30,295 (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 1,664.5 (200-day SMA), USD 1,608.6 (50-day SMA) & USD 1,649 (100-SMA day).(http://www.moneycontrol.com/news/brokerage-recos-commodities/spot-gold-to-face-resistance-at-usd-16645-mangal-keshav_849486.html)
Buy Gold on dips to USD 1560; target USD 1577
After witnessing a volatile trading throughout the previous week, spot gold
held steady near USD 1578 an ounce. Prices slipped to a ten month low
of USD 1539.74 earlier last week, weighed down by a strong US dollar and
upbeat equities that abated gold’s safe haven appeal amid concerns over
the Korean peninsula. Disappointing US Non-farm Payrolls data on Friday
raised expectations that the US Federal Reserve will continue the
bullion friendly bond buying program that lifted prices nearly 2
percent. US employers hired at a weaker pace in nine months in March
with payrolls expanding by just 88,000 last month against expectations
of a 200,000 increase whereas the unemployment rate lowered to 7.6
percent. Gold in Japanese futures market surged almost 5 percent nearing
its record high due to a weak yen. Japanese yen slipped against the
dollar to the weakest since June 2009 on reports of more stimulus
actions from the BOJ.
Investment interest on gold seems contracting with the holdings of the world’s top exchange traded funds continuing to fall, testing the lowest level since August 2012. A direct rise from the support of USD 1539 has overshadowed further bear attempts lifting prices to the congestion resistance of USD 1581-85 regions. As per chart formations, if unable to break USD 1585, prices have more room for further downside but it has to break USD 1537 with stiff volume. Anyhow, fall below the same, next sizable move is expected towards USD 1520, breaking of which is mandatory for long liquidation to USD 1480/48 levels. However, while prices stay above USD 1559, further rise towards USD 1585 is expected but possibilities of strong uptrend are vested with the ability to trade consistently above USD 1588 with volume. USD 1607/1618 is the upside objective once such attempts are successful. On a very short, breaking any of the sides of USD 1539-1588 would be required for further directional moves. MACD is providing potential for further rise but RSI is placed in the neutral zone.
Trading strategies:
Key levels for the day: Downside: Immediate 1537/1520/1480 followed by 1448.
Upside Immediate: 1585-1588/1600/1607/1618/ then1660
Buy above 1588 target 1600 SL below 1578. Buy on dips to 1560 target 1577 SL below1547
Buy above 1609 target 1620 SL below 1598.
Sell on pullbacks to 1585 target 1565 SL above 1596
Sell below 1537 target 1520 SL 1553. Sell below 1518 target 1480 SL above 1554
Expect a choppy trading initially, but breaking any of the key levels of 1539-1588 regions would be required suggesting fresh directional moves.
MCX May: Intraday Levels are: Resistance seen at: 9530/29640/29880/29940
Supports: 29350/29110/28810/28700/28510/28320
( http://www.moneycontrol.com/news/brokerage-recos-commodities/buy-golddips-to-usd-1560-target-usd-1577-geojit_848906.html)
Investment interest on gold seems contracting with the holdings of the world’s top exchange traded funds continuing to fall, testing the lowest level since August 2012. A direct rise from the support of USD 1539 has overshadowed further bear attempts lifting prices to the congestion resistance of USD 1581-85 regions. As per chart formations, if unable to break USD 1585, prices have more room for further downside but it has to break USD 1537 with stiff volume. Anyhow, fall below the same, next sizable move is expected towards USD 1520, breaking of which is mandatory for long liquidation to USD 1480/48 levels. However, while prices stay above USD 1559, further rise towards USD 1585 is expected but possibilities of strong uptrend are vested with the ability to trade consistently above USD 1588 with volume. USD 1607/1618 is the upside objective once such attempts are successful. On a very short, breaking any of the sides of USD 1539-1588 would be required for further directional moves. MACD is providing potential for further rise but RSI is placed in the neutral zone.
Trading strategies:
Key levels for the day: Downside: Immediate 1537/1520/1480 followed by 1448.
Upside Immediate: 1585-1588/1600/1607/1618/ then1660
Buy above 1588 target 1600 SL below 1578. Buy on dips to 1560 target 1577 SL below1547
Buy above 1609 target 1620 SL below 1598.
Sell on pullbacks to 1585 target 1565 SL above 1596
Sell below 1537 target 1520 SL 1553. Sell below 1518 target 1480 SL above 1554
Expect a choppy trading initially, but breaking any of the key levels of 1539-1588 regions would be required suggesting fresh directional moves.
MCX May: Intraday Levels are: Resistance seen at: 9530/29640/29880/29940
Supports: 29350/29110/28810/28700/28510/28320
( http://www.moneycontrol.com/news/brokerage-recos-commodities/buy-golddips-to-usd-1560-target-usd-1577-geojit_848906.html)
Gold news
Trend updated
for-Apr/09/2013.CMP-29302 Overall trend of the Goldm is bearish for
medium-long term .Currently Goldm is in strong downtrend and the
trend is supported with good volume The open interest is not
increasing with trend .. The Goldm is now trading in overbought
level. The Goldm is now trading in overbought level. The oscillator
is showing SELL signal For short term Goldm is in SELL
position.Positionally Immediate support for Goldm is 28524.Resistance
for the Goldm is 29431-29544-29566-29692-30011-30222-
Currently Goldm is in HOLD LONG position
Goldm is moving sideways so short term investor better to buy only
above 29568.0 with stop at 28639.0 The oscillator is showing BUY
signal
Intraday Trend- Buy is advised above 29523 with a stop at 29162.5 Below 29081.6 go for sell
Intraday Resistance of GOLDM are 29464.1/29598.6/29702.4/29788.6
Intraday Support of GOLDM are 29139.9/29005.4/29017/28931.9
Intraday Trend- Buy is advised above 29523 with a stop at 29162.5 Below 29081.6 go for sell
Intraday Resistance of GOLDM are 29464.1/29598.6/29702.4/29788.6
Intraday Support of GOLDM are 29139.9/29005.4/29017/28931.9
Monday, 8 April 2013
Gold slips under 29,700 on MCX
MCX Gold futures dropped amid profit selling after a massive rally in the Friday's session.
Gold futures got a boost on the disappointing jobs data, which put to rest recent sentiments that the Federal Reserve may consider tightening policy in the coming months.
The U.S. Bureau of Labor Statistics reported earlier the economy added 88,000 nonfarm payrolls in March, way below expectations for a gain of 200,000 and below the 268,000 jobs added in February.
The metal edged up at a ferocious pace following this, adding nearly 30 dollars in intraday moves.
The counter currently quotes at $1577.50, up $1.6 per ounce on the day.
The broad sentiments are supportive for Gold. Japanese Yen dropped to near four month lows today as the country's central bank got its massive stimulus program underway.
The euro was also dented by troubles in Portugal. The European Commission warned in a statement yesterday that failure by Portugal to implement its austerity program would results in the curtailment of future financial aid.
The US non farm data revealed on Friday that the private sector added 95,000 jobs last month, after an increase of 254,000 in February, missing expectations for a 209,000 rise
. The report also showed that the U.S. unemployment rate ticked down to 7.6 per cent in March, from 7.7 per cent the previous month, as more Americans left the labor force.
The news sent the dollar falling and gold rising on expectations for the Federal Reserve to keep monetary stimulus programs in place, including its USD85 billion monthly bond-buying program that weakens the greenback as a side effect.
COMEX Gold has come off a high above $1582 per ounce an there could be some upside resistance for the yellow metal after the massive array of gains seen on Friday.
The US dollar is quoting just under 1.3000 levels against the Euro, coming off its two-week low levels but would be benefited from the Portugal troubles.
MCX Gold futures slipped as the Rs 29800 barrier yet again triggered a correction.
The counter quotes at Rs 29654 down Rs 113 per 10 grams on the day with 1.57 per cent increase in the open interest.
Gold futures got a boost on the disappointing jobs data, which put to rest recent sentiments that the Federal Reserve may consider tightening policy in the coming months.
The U.S. Bureau of Labor Statistics reported earlier the economy added 88,000 nonfarm payrolls in March, way below expectations for a gain of 200,000 and below the 268,000 jobs added in February.
The metal edged up at a ferocious pace following this, adding nearly 30 dollars in intraday moves.
The counter currently quotes at $1577.50, up $1.6 per ounce on the day.
The broad sentiments are supportive for Gold. Japanese Yen dropped to near four month lows today as the country's central bank got its massive stimulus program underway.
The euro was also dented by troubles in Portugal. The European Commission warned in a statement yesterday that failure by Portugal to implement its austerity program would results in the curtailment of future financial aid.
The US non farm data revealed on Friday that the private sector added 95,000 jobs last month, after an increase of 254,000 in February, missing expectations for a 209,000 rise
. The report also showed that the U.S. unemployment rate ticked down to 7.6 per cent in March, from 7.7 per cent the previous month, as more Americans left the labor force.
The news sent the dollar falling and gold rising on expectations for the Federal Reserve to keep monetary stimulus programs in place, including its USD85 billion monthly bond-buying program that weakens the greenback as a side effect.
COMEX Gold has come off a high above $1582 per ounce an there could be some upside resistance for the yellow metal after the massive array of gains seen on Friday.
The US dollar is quoting just under 1.3000 levels against the Euro, coming off its two-week low levels but would be benefited from the Portugal troubles.
MCX Gold futures slipped as the Rs 29800 barrier yet again triggered a correction.
The counter quotes at Rs 29654 down Rs 113 per 10 grams on the day with 1.57 per cent increase in the open interest.
Gold news
Bullion: Domestic gold
trading higher a similar rise in the COMEX. Gold prices jumped Friday
after a weaker-than-expected U.S. payroll report sparked fresh hopes for
an extended period of gold-friendly stimulus from the U.S. Federal
Reserve. Economists surveyed by Dow Jones Newswires had forecast that nonfarm payrolls would rise by 200,000 and the unemployment rate would hold steady at 7.7 percent.
MCX Gold June Contract is looking positive for the day. Market may find support near 29580 & 29480; intraday resistance can be seen near 29760 & 29880. Day traders are advised to buy intraday on dips. (Buy around 29580 with SL 29480, for the target of 29760 & 29880.)
MCX Gold June Contract is looking positive for the day. Market may find support near 29580 & 29480; intraday resistance can be seen near 29760 & 29880. Day traders are advised to buy intraday on dips. (Buy around 29580 with SL 29480, for the target of 29760 & 29880.)
Friday, 5 April 2013
Gold news
Trend updated
for-Apr/06/2013.CMP-29710 Overall trend of the Gold is bearish for
medium-long term .Currently Gold is in strong downtrend with good
momentum and the trend is supported with good volume 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 and closed above 1 week high with volume signals
up breakout.Positionally Support for the Gold is
29382-29342-29258-.Resistance for the Gold is 29882-30149-30395-
Gold closed above 1 week high with volume signals up
breakoutCurrently Gold is in HOLD LONG position Gold is in
sideways and sellers was at high so for short term better buy above
30166.3 or hold with stop at 28720.0 The next resistance will be at
29730.0 The oscillator is showing BUY signal
Intraday Trend- Buy is advised only above 30166.3 with a stop at 29452.9 Below 29255.3 go for sell and put stop at 29967.8
Intraday Resistance of GOLD are 29958.4/30164.5/29918.9/30005.5
Intraday Support of GOLD are 29461.6/29255.5/29231.1/29145.6
Intraday Trend- Buy is advised only above 30166.3 with a stop at 29452.9 Below 29255.3 go for sell and put stop at 29967.8
Intraday Resistance of GOLD are 29958.4/30164.5/29918.9/30005.5
Intraday Support of GOLD are 29461.6/29255.5/29231.1/29145.6
MCX GOLD June contract trades lower
MCX GOLD were trading lower. At 11:12 hrs MCX GOLD
April contract was trading at Rs 28940 down Rs 82, or 0.28 percent. The
GOLD rate touched an intraday high of Rs 28970 and an intraday low of Rs
28931. So far 4 contracts have been traded. GOLD prices have moved down
Rs 2015, or 6.51 percent in the April series so far.
At 11:15 hrs MCX GOLD June contract was trading at Rs 29324 down Rs 81,
or 0.28 percent. The GOLD rate touched an intraday high of Rs 29374 and
an intraday low of Rs 29301. So far 2417 contracts have been traded.
GOLD prices have moved down Rs 2870, or 8.91 percent in the June series
so far.
At 11:12 hrs MCX GOLD August contract was trading at Rs 29775 down Rs 67, or 0.22 percent. The GOLD rate touched an intraday high of Rs 29826 and an intraday low of Rs 29757. So far 70 contracts have been traded. GOLD prices have moved down Rs 2452, or 7.61 percent in the August series so far.
At 11:12 hrs MCX GOLD August contract was trading at Rs 29775 down Rs 67, or 0.22 percent. The GOLD rate touched an intraday high of Rs 29826 and an intraday low of Rs 29757. So far 70 contracts have been traded. GOLD prices have moved down Rs 2452, or 7.61 percent in the August series so far.
Thursday, 4 April 2013
Gold news
Trend updated
for-Apr/05/2013.CMP-29022 Overall trend of the Gold is bearish for
medium-long term .Currently Gold is in strong downtrend with good
momentum and the trend is supported with good volume 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
28605.Resistance for the Gold is 29490-29573-29607-29900-30165-30410-
Currently Gold is in HOLD SHORT position Gold
is in sideways and sellers was at high so for short term better buy
above 29287.5 or hold with stop at 28720.0 The next resistance will
be at 29525.0 The Gold is now trading is approaching oversold level.
The oscillator is showing SELL signal
Intraday Trend- Buy is advised only above 29287.5 with a stop at 28860.6 Below 28757.3 go for sell and put stop at 29183.8
Intraday Resistance of GOLD are 29229.1/29400.9/29286.9/29372.6
Intraday Support of GOLD are 28814.9/28643.1/28606.4/28521.9
Intraday Trend- Buy is advised only above 29287.5 with a stop at 28860.6 Below 28757.3 go for sell and put stop at 29183.8
Intraday Resistance of GOLD are 29229.1/29400.9/29286.9/29372.6
Intraday Support of GOLD are 28814.9/28643.1/28606.4/28521.9
MCX Gold June has support at Rs 29200/10gms
Precious metals are trading on a weak note, as global
investoRs seem to be flocking to surging equities. With US equities
trading on a firm note, there could be relentless pressure on the
precious metals in the short run. Amongst the pack, silver seems to be more vulnerable as there is substantial deterioration on the charts. Silver
prices are well poised to move lower towards USD 26/ounce. For gold
prices, USD 1,550 seems to be a crucial support level, whereby a breach
of the same can drift the prices towards USD 1,520/ounce.
MCX Gold (June)Price indication: Prices have support at Rs 29,200/10gms and resistance at Rs 29,650/10gms.
MCX Silver (May)Price indication: Prices have support at Rs 49,850/kg and resistance at Rs 53,350/kg
MCX Gold (June)Price indication: Prices have support at Rs 29,200/10gms and resistance at Rs 29,650/10gms.
MCX Silver (May)Price indication: Prices have support at Rs 49,850/kg and resistance at Rs 53,350/kg
Gold news
Trend updated
for-Apr/04/2013.CMP-28826 Overall trend of the Gold is bearish for
medium-long term .Currently Gold is in strong downtrend with good
momentum and the trend is supported with good volume 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
28675.Resistance for the Gold is 29556-29595-29630-29925-30189-30432-
Currently Gold is in SELL position The Gold
is in downtrend For short term buy only if close above 29402.0 The
Gold is now trading is approaching oversold level. The oscillator is
showing SELL signal
Intraday Trend- Buy is advised above
29087.6 with a stop at 28666.8 Below 28565.2 go for sell
Intraday Resistance of GOLD are 29029.5/29198.5/29267.2/29352.8
Intraday Support of GOLD are 28622.5/28453.5/28586.8/28502.4
Intraday Resistance of GOLD are 29029.5/29198.5/29267.2/29352.8
Intraday Support of GOLD are 28622.5/28453.5/28586.8/28502.4
Sell Gold, Silver on rise: Nirmal Bang
Precious metals prices tumbled to a nine-month low yesterday, losing
more than 1 percent as plummeting crude oil prices and sharp losses in
U.S. equities triggered a sell-off in assets across the board. Holdings
in the SPDR Gold Trust, the world's largest gold-backed exchange traded fund, stood at 1206.22 tonnes by Apr 03, down by 2.70 tonnes from the previous business day.
Holdings in the world's largest silver
backed exchange-traded fund iShares Silver Trust stood at 10677.89
tonnes by Apr 03, down by 25.70 tonnes from the previous business day.
South African bullion producer Gold Fields Ltd GFIJ.J said workers at
its Tarkwa and Damang mines in Ghana had launched a wildcat strike,
halting production. Gold Fields Says March quarter production for the
new Gold Fields excluding sibanye gold, is expected to be 476,000 and Q1
cash costs are expected to be approximately usUSD830/oz.
Fundamental outlook:
Precious metals prices are trading lower on international bourses today. We expect a further sell-off in the prices of precious metals as an early indication of alterations in the asset-purchase program by the Fed may pressurize prices. Selling on rise is recommended for the day
Fundamental outlook:
Precious metals prices are trading lower on international bourses today. We expect a further sell-off in the prices of precious metals as an early indication of alterations in the asset-purchase program by the Fed may pressurize prices. Selling on rise is recommended for the day
Gold falls to 10-month low on weaker equities
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.
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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