TRADE IDEA ON BULLION FOR 06-07 OCT

GOLD DEC SELL ON RISE@ 30050 SL 30200 TGT 29850-29700.

SILVER DEC SELL ON RISE @ 43000 SL 43450 TGT 42560-42050.

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Gold:  Gold trading range for the day is 29600-30296. Gold prices dropped after data showed that the U.S. services sector accelerated in September to the fastest level in 11 months. Prices seen under pressure as the U.S. dollar climbed to a two-month high amid indications the Fed is getting closer to raising interest rates. The European Central Bank is said to be building an informal consensus to gradually wind down bond purchases.

Outlook: Technically now Gold is getting support at 29758 and below same could see a test of 29600 level, And resistance is now likely to be seen at 30106, a move above could see prices testing 30296.

	R2	R1	S1		S2	TREND
GOLD	30100	30000	29870		29750	SIDEWAYS

Silver: Silver trading range for the day is 41566-43722. Silver dropped amid mounting concern that an improving U.S. economy will push the Federal Reserve to boost interest rates soon. Federal Reserve officials are talking up the increasing likelihood of an interest-rate rise in the U.S. Holdings at ishares silver trust dropped by 0.52% i.e. 59.05 tonnes to 11206.36 tonnes from 11265.41 tonnes.

 Outlook:  Technically now Silver is getting support at 42090 and below same could see a test of 41566 level, And resistance is now likely to be seen at 43168, a move above could see prices testing 43722.

	R2	R1	S1		S2	TREND
SILVER	43000	42800	42500		42000	SIDEWAYS