Crude 24.07.2012 Oil Buy around 5010 stop loss 4980 target-5045-5076 ranges.
Tuesday, July 24, 2012
GOLD UPDATES 24.07.2012
• Gold slipped on Monday as Spain's economic
troubles fueled euro zone debt fears, but safe-haven
bids helped bullion outperform equities and
commodities and lifted the metal off its lows.
• Earlier in the session, gold came under pressure
from tumbling U.S. equities and crude oil after Spain
said it sank deeper into recession in the second
quarter, pushing the euro zone's fourth-largest
economy closer to a full bailout.
• The metal later pared losses, moving in tandem with
a rebound in the euro after the International
Monetary Fund said it would start discussions with
the Greek authorities on July 24 on how to bring
Greece's economic program back on track.
• Worries about a global economic slowdown and
deflation sent bullion toward $1,560 an ounce
several times last week but gold managed to hold
each time. The metal has been moving in a range
between $1,527 and $1,655 in the past three
months.
troubles fueled euro zone debt fears, but safe-haven
bids helped bullion outperform equities and
commodities and lifted the metal off its lows.
• Earlier in the session, gold came under pressure
from tumbling U.S. equities and crude oil after Spain
said it sank deeper into recession in the second
quarter, pushing the euro zone's fourth-largest
economy closer to a full bailout.
• The metal later pared losses, moving in tandem with
a rebound in the euro after the International
Monetary Fund said it would start discussions with
the Greek authorities on July 24 on how to bring
Greece's economic program back on track.
• Worries about a global economic slowdown and
deflation sent bullion toward $1,560 an ounce
several times last week but gold managed to hold
each time. The metal has been moving in a range
between $1,527 and $1,655 in the past three
months.
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