Weekly Support
& Resistance for GOLD
Resistance: 30100-30300
Pivot: 29900
Support: 29500-29300
Silver
Resistance: 30100-30300
Pivot: 29900
Support: 29500-29300
In international spot gold managed to find support at
$1,245, a key reversal level on gold. Negative yields and the prospect of
higher inflation will continue to provide support.
Last week GOLD traded in the range of 29600-30270. After US
economic data like CPI, Unemployment claims which came give fed room to hike
interest rates in June which drags the prices of precious metals. Gold may be
trade in the range of 29600-30200 trading below 29300 will lead to down side to
29000-28700Silver
Silver : Silver may trade sideways in range
39500-40900 week ahead. If trade above 40300 may again show some strength to
40900.Below 39600 may test 39100.
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