27 March 2015

GOLD TREND FOR 30 MARCH 2015

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Gold eased on Friday as traders booked profits after a seven-day rally and as the dollar rebounded on strong US data, but the metal still looked set to post its second straight weekly gain on expectations US interest rates will stay low for longer. Gold is weakening because of profit-taking and a slightly stronger dollar. Gold prices fell by 0.38 per cent to Rs 26,948 per 10 grams in futures trade today as speculators locked-in gains amid weak global trends. Silver prices fell sharply by Rs 197 to Rs 38,900 per kg in futures trade today due to profit-booking at existing levels and weak trend overseas. 
The Gold is in perfect uptrend .Currently Gold is showing some up move after small correction and trend is strong and supported with good volume The open interest is not increasing with trend. Caution note buying at higer levels seems decreasing. The Gold is now trading in overbought level. The Gold is now trading in overbought level.
R2
R1
PIVOT POINT
S1
S2
27096
27047
27000
26676
26576
 

21 March 2015

BULLIONS OUTLOOK FOR MONDAY 23 MARCH 2015

BASE METALS

Base metals on the LME traded lower weighed down by economic weakness in top consumer China and expectations the Federal Reserve will prepare the ground for an increase in US interest rates. 
GOLD 
Spot gold prices rose by 1.58 percent to close at $1166.8/oz, its biggest rally since January after the Federal Reserve signaled a more cautious outlook for U.S. economic growth, and the dollar tumbled.

R3
R2
R1
PP
S1
S2
S3
37974
37038
36705
36102
35769
35166
34230
● When to sell Silver?  
Watch out for S1, if it touches the target and the market recovers by 80 points thereafter, our analysts suggest investors should sell silver, with the stop loss of S1 + 150 points. The targets in this case would be S2 and where S3 will become the strong support.