SINGAPORE: Gold edged down on Wednesday as investors continued to fret about the euro zone debt crisis with Spain's borrowing costs spiralling towards unsustainable levels, keeping the euro close to its lowest level in nearly two years.
Wednesday, May 30, 2012
Tuesday, May 29, 2012
GOLD NEWS 29.05.2012 NEAL BHAI
GOLD NEWS UPDATED:- “Whether it’s Greece leaving the euro or Spain being next in line for a bailout, investors are focusing on the crisis in Europe at the moment and picking the dollar as their haven of choice,” said Sun Yonggang, an analyst at Everbright Futures Co., a unit of China’s largest state-owned investment group.
Bullion for immediate delivery fell 0.2 percent to $1,577.25 an ounce by 9:14 a.m. in London. Prices are 5.3 percent lower in May for a fourth monthly decline, the longest losing run since 1999. August-delivery futures were 0.5 percent higher at $1,578.30 on the Comex in New York. U.S. markets were closed yesterday for Memorial Day.
Gold is up 0.9 percent this year after 11 consecutive annual increases. Bullion purchases by India may be about 50 metric tons to 60 tons this month, down from 102 tons a year earlier, Prithviraj Kothari, president of the Bombay Bullion Association, said today in a phone interview.
Consumer confidence in the euro area was at minus 19.3 in May, compared with minus 19.9 in April, according to a Bloomberg News survey before the final reading is released tomorrow.
The unemployment rate climbed to 11 percent in April, the highest in data compiled by Bloomberg going back to 1990, according to a separate survey of economists before the June 1 report.
NEAL BHAI:- 09999974733
Bullion for immediate delivery fell 0.2 percent to $1,577.25 an ounce by 9:14 a.m. in London. Prices are 5.3 percent lower in May for a fourth monthly decline, the longest losing run since 1999. August-delivery futures were 0.5 percent higher at $1,578.30 on the Comex in New York. U.S. markets were closed yesterday for Memorial Day.
Gold is up 0.9 percent this year after 11 consecutive annual increases. Bullion purchases by India may be about 50 metric tons to 60 tons this month, down from 102 tons a year earlier, Prithviraj Kothari, president of the Bombay Bullion Association, said today in a phone interview.
Consumer confidence in the euro area was at minus 19.3 in May, compared with minus 19.9 in April, according to a Bloomberg News survey before the final reading is released tomorrow.
The unemployment rate climbed to 11 percent in April, the highest in data compiled by Bloomberg going back to 1990, according to a separate survey of economists before the June 1 report.
NEAL BHAI:- 09999974733
Monday, April 30, 2012
CRUDE OIL:- Weekly Technical Report 30.04.2012 to 05.05.2012
In the last week, MCX May crude oil prices opened the week at Rs 5440/bbl, initially trade lower but found strong support at Rs 5394/bbl. Later, prices bounced back from low and touched a high of Rs 5519/bbl and finally closed at Rs 5516/bbl (April 28, Saturday) with a gain of Rs 72/bbl as compared with a previous close of Rs 5444/bbl.
On the above Weekly Charts, Crude Oil prices breached 3 week’s high and closed above its 10 & 20 week EMA (Exponential Moving Average) which indicates bullish market sentiments.
For this week, we expect MCX May Crude oil prices to find support at 5400 levels. Trading consistently below 5400 levels would trigger a correction initially towards 5350 levels, and then finally towards the major support at 5300 levels.
Resistance is now observed at 5560 levels. Trading consistently above 5560 levels would further extend the current rally towards 5620 levels
Recommendation: Buy MCX Crude May between 5400-5420, SL-5345, Target -5560/5620.
NEAL BHAI:- 9999974733, 9899900589
On the above Weekly Charts, Crude Oil prices breached 3 week’s high and closed above its 10 & 20 week EMA (Exponential Moving Average) which indicates bullish market sentiments.
For this week, we expect MCX May Crude oil prices to find support at 5400 levels. Trading consistently below 5400 levels would trigger a correction initially towards 5350 levels, and then finally towards the major support at 5300 levels.
Resistance is now observed at 5560 levels. Trading consistently above 5560 levels would further extend the current rally towards 5620 levels
Recommendation: Buy MCX Crude May between 5400-5420, SL-5345, Target -5560/5620.
NEAL BHAI:- 9999974733, 9899900589
COPPER:- Weekly Technical Report 30.04.2012 to 05.05.2012
COPPER:- In the last week, MCX June Copper prices opened the week at Rs 429/Kg, initially traded mildly lower and found strong resistance at 424.75/Kg. Later prices bounced back from low and touched a high of Rs 448.10/Kg, and finally closed at Rs 446.55/Kg (April 28, Saturday) with a gain of Rs 16.65/Kg as compared with previous week’s close of Rs 429.90/Kg.
On the above Weekly Charts, Copper prices breached contract high and closed above its 10 & 20 week EMA (Exponential Moving Average) which indicates bullish market sentiments.
For this week, we expect Copper prices to find resistance at 455 levels. Trading consistently above 455 levels can lead towards 464 levels. Strong support is now observed at 435 levels. Trading consistently below 435 levels would trigger correction initially towards 430 levels.
Recommendation: Buy MCX Copper June between 435-437, SL-429, Target -455/463.
NEAL BHAI:- 99999747, 9899900589
On the above Weekly Charts, Copper prices breached contract high and closed above its 10 & 20 week EMA (Exponential Moving Average) which indicates bullish market sentiments.
For this week, we expect Copper prices to find resistance at 455 levels. Trading consistently above 455 levels can lead towards 464 levels. Strong support is now observed at 435 levels. Trading consistently below 435 levels would trigger correction initially towards 430 levels.
Recommendation: Buy MCX Copper June between 435-437, SL-429, Target -455/463.
NEAL BHAI:- 99999747, 9899900589
SILVER:- Weekly Technical Report 30.04.2012 to 05.05.2012
In the last week, MCX July Silver prices opened the week at Rs 57,950/Kg, initially traded sharply lower and found strong support at Rs 56,050/Kg. Later prices bounced back from low and finally closed at Rs 57,568/Kg (April 28, Saturday) with a loss of Rs 586/Kg as compared with previous week’s close of Rs 58,154/Kg.
On the above Weekly Charts, Silver prices breached 13 week’s low and closed below its 10 & 20 week EMA (Exponential Moving Average) which indicates bearish market sentiments.
For this week, we expect Silver prices to find major resistance at 58,780 levels. Trading consistently above 58,780 levels would open the door for a new leg up initially towards 59,400 then 59,700 levels.
Strong Support is observed at 56,050 levels. Trading below 56,000 levels would give correction initially towards 55,500 and then finally towards the Major support at 55,000 levels.
NEAL BHAI:- 9999974733 & 9899900589
On the above Weekly Charts, Silver prices breached 13 week’s low and closed below its 10 & 20 week EMA (Exponential Moving Average) which indicates bearish market sentiments.
For this week, we expect Silver prices to find major resistance at 58,780 levels. Trading consistently above 58,780 levels would open the door for a new leg up initially towards 59,400 then 59,700 levels.
Strong Support is observed at 56,050 levels. Trading below 56,000 levels would give correction initially towards 55,500 and then finally towards the Major support at 55,000 levels.
NEAL BHAI:- 9999974733 & 9899900589
Weekly Technical Report 30.04.2012 to 05.05.2012
In the last week, MCX June gold prices opened the week at Rs 28,685/10 grams, initially traded mildly lower and found strong support at Rs 28,622/10 grams. Later, prices bounced back and touched a high of Rs 29,131/10 grams and finally closed at Rs 29,109/10 grams (April 28, Saturday) with a gain of Rs 408/10 gram as compared with previous week’s close of Rs 28,701/10 grams.
On the above Weekly Charts, Gold prices breached 6 week’s high and closed above its 10 & 20 week EMA (Exponential Moving Average) which indicates bullish market sentiments.
For this week, we expect gold prices to find resistance at 29,320 levels, if prices will close and trade consistently above 29,320 levels, would trigger further rally upto 29,580 levels. Support is observed at 28,740 levels and then 28500 levels.
On the above Weekly Charts, Gold prices breached 6 week’s high and closed above its 10 & 20 week EMA (Exponential Moving Average) which indicates bullish market sentiments.
For this week, we expect gold prices to find resistance at 29,320 levels, if prices will close and trade consistently above 29,320 levels, would trigger further rally upto 29,580 levels. Support is observed at 28,740 levels and then 28500 levels.
Recommendation: Buy MCX Gold June between 28740-28800, SL-28490, Target -29320/29570.
Saturday, February 18, 2012
Weekly Technical Report 20.02.2012 to 24.02.2012
Recommendation: Sell MCX Gold April between 28140-28180, SL-28301, Target -27950/27820.
Recommendation: Sell MCX Silver March Between 56200-56300, SL-57001, Target -55350/54650.
Recommendation: Sell MCX Copper February between 410-412, SL-421, Target -399
Or
Buy MCX Copper February between 398-396, SL-393, Target -409
Recommendation: Sell MCX Crude March between 5270-5290, SL-5355, Target -5085
Or
Buy MCX Crude March Between 5085-5065, SL-4990, Target -5210/5270
NEAL:- 9899180580, 9999974733
Recommendation: Sell MCX Silver March Between 56200-56300, SL-57001, Target -55350/54650.
Recommendation: Sell MCX Copper February between 410-412, SL-421, Target -399
Or
Buy MCX Copper February between 398-396, SL-393, Target -409
Recommendation: Sell MCX Crude March between 5270-5290, SL-5355, Target -5085
Or
Buy MCX Crude March Between 5085-5065, SL-4990, Target -5210/5270
NEAL:- 9899180580, 9999974733
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