JUNE 28 SATURDAY
SHORT TERM TREND : BULLISH : TARGET RS 24710
LONG TERM TREND : BULLISH: TARGET RS 26800
S1 RS 24020, S2 RS 23850, S3 RS 23680
R1 RS 24360, R2 RS 24540,R3 RS 24710
Gold rallied to its highest level in a month ,
as record oil prices , a weak dollar and
tumbling world stock boosted the metals
safe haven appeal.
Silver edged up to $ 17.40/17.46 an ounce
from $ 17,22 / 17.28 late in Newyork.
Saturday, June 28, 2008
Thursday, June 26, 2008
UPDATES ON JUNE 26 2008
JUNE 26 THURSDAY
SHORT TERM TREND : SIDEWAYS: TARGET RS 23030 TO 23700
LONG TERM TREND : BULLISH : TARGET RS 26800
S1 RS 23200,S2 RS 23030, S3 RS 22860
R1 RS 23540, R2 RS 23760, R3 RS 23945
MARKET IS EXPECTED TO MOVE SIDEWAYS
Gold Futures Decline on U.S. Inflation Outlook; Silver Drops
Gold fell as a decline in energy costs reduced
demand for the precious metal as a hedge against
inflation. Silver also dropped.
Silver futures for September delivery declined 13.2
cents, or 0.8 percent, to $16.607 an ounce. The price
has advanced 11 percent this year, while gold climbed
5.3 percent.
Silver has dropped 4.2 percent in the past week. A break
below $16.20 would be bearish for the metal, analysts at
Scotia Capital USA said in a report yesterday.
Oil fell as much as 3.7 percent to $131.95 a barrel today
after a government report showed an unexpected
increase in U.S. inventories. The record was $139.89
a barrel on June 16.
SHORT TERM TREND : SIDEWAYS: TARGET RS 23030 TO 23700
LONG TERM TREND : BULLISH : TARGET RS 26800
S1 RS 23200,S2 RS 23030, S3 RS 22860
R1 RS 23540, R2 RS 23760, R3 RS 23945
MARKET IS EXPECTED TO MOVE SIDEWAYS
Gold Futures Decline on U.S. Inflation Outlook; Silver Drops
Gold fell as a decline in energy costs reduced
demand for the precious metal as a hedge against
inflation. Silver also dropped.
Silver futures for September delivery declined 13.2
cents, or 0.8 percent, to $16.607 an ounce. The price
has advanced 11 percent this year, while gold climbed
5.3 percent.
Silver has dropped 4.2 percent in the past week. A break
below $16.20 would be bearish for the metal, analysts at
Scotia Capital USA said in a report yesterday.
Oil fell as much as 3.7 percent to $131.95 a barrel today
after a government report showed an unexpected
increase in U.S. inventories. The record was $139.89
a barrel on June 16.
Wednesday, June 25, 2008
UPDATES ON JUNE 25 2008
JUNE 25 WEDNESDAY
SHORT TERM TREND : BEARISH : TARGET RS 23060
LONG TERM TREND : BULLISH : TARGET RS 26800
S1 RS 23380, S2 RS 23080, S3 RS 22860
R1 RS 23720, R2 RS 23910, R3 RS 24060
PREFER SHORTS AT RS 23680 TO 23700
STOP LOSS RS 23910
TARGET RS 23080
Gold Futures Close Higher, Silver Drops
In currencies, the dollar index , which
measures the greenback against a basket of
trading partners, was at 73.213, compared
with 73.470 late Monday.
Also on the Nymex, Silver for July delivery fell by
15.7 cents to close at $16.633 an ounce, extending
Monday's loss of 3.6 percent.
SHORT TERM TREND : BEARISH : TARGET RS 23060
LONG TERM TREND : BULLISH : TARGET RS 26800
S1 RS 23380, S2 RS 23080, S3 RS 22860
R1 RS 23720, R2 RS 23910, R3 RS 24060
PREFER SHORTS AT RS 23680 TO 23700
STOP LOSS RS 23910
TARGET RS 23080
Gold Futures Close Higher, Silver Drops
In currencies, the dollar index , which
measures the greenback against a basket of
trading partners, was at 73.213, compared
with 73.470 late Monday.
Also on the Nymex, Silver for July delivery fell by
15.7 cents to close at $16.633 an ounce, extending
Monday's loss of 3.6 percent.
Tuesday, June 24, 2008
UPDATES ON JUNE 24 2008
JUNE 24 TUESDAY
SHORT TERM TREND : SIDEWAYS : TARGET RS 23060 TO 24120
LONG TERM TREND : BULLISH : TARGET RS 26800
S1 RS 23560, S2 RS 23380 , S3 RS 23060
R1 RS 23870, R2 RS 24010, R3 RS 25120
PRICES ARE EXPECTED TO MOVE SIDEWAYS TO LOWER
WAIT FOR RESISTENCE FOR FRESH SHORT
Gold, Silver Slide As Dollar Climbs
Gold and silver futures fell sharply Monday, hurt
by the U.S. dollar's strength and an early day decline
in crude oil prices, traders and analysts said.
There were reports of one large seller early in
the day - perhaps a fund - when most of the
tumble was occurring.
July silver fell 60.7 cents to $16.79.
SHORT TERM TREND : SIDEWAYS : TARGET RS 23060 TO 24120
LONG TERM TREND : BULLISH : TARGET RS 26800
S1 RS 23560, S2 RS 23380 , S3 RS 23060
R1 RS 23870, R2 RS 24010, R3 RS 25120
PRICES ARE EXPECTED TO MOVE SIDEWAYS TO LOWER
WAIT FOR RESISTENCE FOR FRESH SHORT
Gold, Silver Slide As Dollar Climbs
Gold and silver futures fell sharply Monday, hurt
by the U.S. dollar's strength and an early day decline
in crude oil prices, traders and analysts said.
There were reports of one large seller early in
the day - perhaps a fund - when most of the
tumble was occurring.
July silver fell 60.7 cents to $16.79.
Saturday, June 21, 2008
UPDATES ON JUNE 21 2008
JUNE 21 SATURDAY
SHORT TERM TREND : BULLISH : TARGET RS 25120
LONG TERM TRND : BULLISH : TARGET RS 26800
S1 RS 24380,S2 RS 24160, S3 RS 23860
R1 RS 24860, R2 RS 25170, R3 RS 25420
PREFER INTRA DAY LONGS AT RS 24380 TO 24360
STOP LOSS RS 24160
TARGET RS 24660
Silver up in futures trade
Silver prices in futures trading moved up in early
trade today on firm global cues and expectations
of a further rise in its prices in coming days.
At 1200 hrs, silver for near month July contract
rose by 0.12 pc at Rs 23,425 per kg on the Multi
Commodity Exchange, clocking a business volume
of 1,915 kg.
The white metal for September contract rose
by 0.09 pc at Rs 24,555 per kg at the same time
and recorded a business volume of 80 kg.
Trading sentiment turned bullish after reports that
both silver and gold ended higher in the New York
Mercantile Exchange last night.
Silver futures for July delivery rose 26.5 cents, or 1.6 pc
to 17.34 dollar an ounce in New York. The price has
advanced 16 pc this year.
SHORT TERM TREND : BULLISH : TARGET RS 25120
LONG TERM TRND : BULLISH : TARGET RS 26800
S1 RS 24380,S2 RS 24160, S3 RS 23860
R1 RS 24860, R2 RS 25170, R3 RS 25420
PREFER INTRA DAY LONGS AT RS 24380 TO 24360
STOP LOSS RS 24160
TARGET RS 24660
Silver up in futures trade
Silver prices in futures trading moved up in early
trade today on firm global cues and expectations
of a further rise in its prices in coming days.
At 1200 hrs, silver for near month July contract
rose by 0.12 pc at Rs 23,425 per kg on the Multi
Commodity Exchange, clocking a business volume
of 1,915 kg.
The white metal for September contract rose
by 0.09 pc at Rs 24,555 per kg at the same time
and recorded a business volume of 80 kg.
Trading sentiment turned bullish after reports that
both silver and gold ended higher in the New York
Mercantile Exchange last night.
Silver futures for July delivery rose 26.5 cents, or 1.6 pc
to 17.34 dollar an ounce in New York. The price has
advanced 16 pc this year.
Thursday, June 19, 2008
UPDATES ON JUNE 19 2008
JUNE 19 THURSDAY
SHORT TERM TREND : SIDEWAYS : TARGET RS 24120 TO 24870
LONG TERM TREND : BULLISH ; TARGET RS 26800
S1 RS 24120,S2 RS 23860,S3 RS 23720
R1 RS 24620,R2 RS 24870,R3 RS 25040
PREFER INTRADAY LONGS AT RS 24180 TO 24160
STOP LOSS RS 23860
TARGET RS 24620
Gold and silver rose on speculation that a slowing
U.S. economy will prevent the Federal Reserve from
raising borrowing costs, boosting the appeal of
precious metals as alternative investments to the dollar.
Silver futures for July delivery rose 18.5 cents, or
1.1 percent, to $17.26 an ounce. Before today, the
price advanced 14 percent this year, while gold
climbed 5.8 percent.
Silver has climbed 2.4 percent in the past week. A drop to
$16 or a rally above $18.20 will attract buyers .
SHORT TERM TREND : SIDEWAYS : TARGET RS 24120 TO 24870
LONG TERM TREND : BULLISH ; TARGET RS 26800
S1 RS 24120,S2 RS 23860,S3 RS 23720
R1 RS 24620,R2 RS 24870,R3 RS 25040
PREFER INTRADAY LONGS AT RS 24180 TO 24160
STOP LOSS RS 23860
TARGET RS 24620
Gold and silver rose on speculation that a slowing
U.S. economy will prevent the Federal Reserve from
raising borrowing costs, boosting the appeal of
precious metals as alternative investments to the dollar.
Silver futures for July delivery rose 18.5 cents, or
1.1 percent, to $17.26 an ounce. Before today, the
price advanced 14 percent this year, while gold
climbed 5.8 percent.
Silver has climbed 2.4 percent in the past week. A drop to
$16 or a rally above $18.20 will attract buyers .
Wednesday, June 18, 2008
UPDATES ON JUNE 18 WEDNESDAY
JUNE 8 WEDNESDAY
SHORT TERM TREND : SIDEWAYS: TARGET RS 23740 TO 24680
LONG TERM TREND : BULLISH : TARGET RS 26800
S1 RS 23820, S2 RS 23640, S3 RS 23360
R1 RS 24220, R2 RS 24460, R3 RS 24620
MARKET IS EXPECTED TO MOVE SIDEWAYS
The dollar fell for a second straight day against the
euro on signs the Federal Reserve may keep
interest rates steady. Gold reached a record
$1,033.90 an ounce on March 17 as the euro,
crude oil and grains climbed to all-time highs
this year.
Silver futures for July delivery fell 5.7 cents, or
0.3 percent, to $17.175 an ounce. Before today, the
price advanced 16 percent this year, while gold
climbed 5.8 percent.
SHORT TERM TREND : SIDEWAYS: TARGET RS 23740 TO 24680
LONG TERM TREND : BULLISH : TARGET RS 26800
S1 RS 23820, S2 RS 23640, S3 RS 23360
R1 RS 24220, R2 RS 24460, R3 RS 24620
MARKET IS EXPECTED TO MOVE SIDEWAYS
The dollar fell for a second straight day against the
euro on signs the Federal Reserve may keep
interest rates steady. Gold reached a record
$1,033.90 an ounce on March 17 as the euro,
crude oil and grains climbed to all-time highs
this year.
Silver futures for July delivery fell 5.7 cents, or
0.3 percent, to $17.175 an ounce. Before today, the
price advanced 16 percent this year, while gold
climbed 5.8 percent.
Tuesday, June 17, 2008
UPDATES ON JUNE 17 TUESDAY
JUNE 17 TUESDAY
SHORT TERM TREND : SIDEWAYS : TARGET RS 23710 TO 24870
LONG TERM TREND : BULLISH : TARGET RS 26800
S1 RS 24080, S2 RS 23920, S3 RS 23710
R1 RS 24465, R2 RS 24630, R3 RS 24870
MARKET IS EXPECTED TO MOVE SIDEWAYS.
Silver futures for July delivery jumped 73 cents,
or 4.4 percent, to $17.29 an ounce. A close at
that price would mark the biggest gain since
March 5.
Before today, silver advanced 11 percent this
year, while gold climbed 4.2 percent.
SHORT TERM TREND : SIDEWAYS : TARGET RS 23710 TO 24870
LONG TERM TREND : BULLISH : TARGET RS 26800
S1 RS 24080, S2 RS 23920, S3 RS 23710
R1 RS 24465, R2 RS 24630, R3 RS 24870
MARKET IS EXPECTED TO MOVE SIDEWAYS.
Silver futures for July delivery jumped 73 cents,
or 4.4 percent, to $17.29 an ounce. A close at
that price would mark the biggest gain since
March 5.
Before today, silver advanced 11 percent this
year, while gold climbed 4.2 percent.
Friday, June 13, 2008
UPDATES ON JUNE 13 FRIDAY
JUNE 13 FRIDAY
SHORT TERM TREND : BEARISH :TARGET RS 23020
LONG TERM TREND : BULLISH TARGET RS 26800
PREFER SHORTS AT RS 23560 TO 23580
STOP LOSS RS 23720
TARGET RS 23260
The dollar rose as much as 1.1 percent against
the euro on speculation the Federal Reserve
will raise interest rates to damp inflation. The
dollar has climbed 2.3 percent against the euro
this week. Before today, gold gained 34 percent
in the past year as the dollar fell 14 percent
against the euro.
Silver futures for July delivery declined 46 cents,
or 2.7 percent, to $16.395 an ounce. Before today,
the price advanced 13 percent this year, while
gold climbed 5.4 percent.
SHORT TERM TREND : BEARISH :TARGET RS 23020
LONG TERM TREND : BULLISH TARGET RS 26800
PREFER SHORTS AT RS 23560 TO 23580
STOP LOSS RS 23720
TARGET RS 23260
The dollar rose as much as 1.1 percent against
the euro on speculation the Federal Reserve
will raise interest rates to damp inflation. The
dollar has climbed 2.3 percent against the euro
this week. Before today, gold gained 34 percent
in the past year as the dollar fell 14 percent
against the euro.
Silver futures for July delivery declined 46 cents,
or 2.7 percent, to $16.395 an ounce. Before today,
the price advanced 13 percent this year, while
gold climbed 5.4 percent.
Wednesday, June 11, 2008
UPDATES ON JUNE 11 2008
JUNE 11 WEDNESDAY
SHORT TERM TREND : BEARISH TARGET RS 22860
LONG TERM TREND :BULLISH : TARGET RS 26800
S1 RS 23220, S2 RS 23040, S3 RS 22860
R1 RS 24560, R2 RS 24720, R3 RS 24880
PREFER SHORTS AT RS 23660 TO 23680
STOP LOSS RS 23920
TARGET RS 23220
The dollar rose Tuesday, buoyed by Federal Reserve
Chairman Ben Bernanke's comments in a speech late
Monday on the need to hold down inflation expectations.
Dollar-supportive rhetoric rose several decibels
overnight as U.S. officials once again signaled that a
floor needs to be put in place for the beleaguered
currency and that they have laid out an arsenal of
tools designed not only to achieve that goal, but
also to get the dollar to strengthen from current levels,"
said Jon Nadler, senior analyst at Kitco Bullion Dealers,
in a note.
Also on the Nymex, July silver fell 57 cents to end at
$16.64 an ounce .
SHORT TERM TREND : BEARISH TARGET RS 22860
LONG TERM TREND :BULLISH : TARGET RS 26800
S1 RS 23220, S2 RS 23040, S3 RS 22860
R1 RS 24560, R2 RS 24720, R3 RS 24880
PREFER SHORTS AT RS 23660 TO 23680
STOP LOSS RS 23920
TARGET RS 23220
The dollar rose Tuesday, buoyed by Federal Reserve
Chairman Ben Bernanke's comments in a speech late
Monday on the need to hold down inflation expectations.
Dollar-supportive rhetoric rose several decibels
overnight as U.S. officials once again signaled that a
floor needs to be put in place for the beleaguered
currency and that they have laid out an arsenal of
tools designed not only to achieve that goal, but
also to get the dollar to strengthen from current levels,"
said Jon Nadler, senior analyst at Kitco Bullion Dealers,
in a note.
Also on the Nymex, July silver fell 57 cents to end at
$16.64 an ounce .
Tuesday, June 10, 2008
UPDATES ON JUNE 10 TUESDAY
JUNE 10 TUESDAY
SHORT TERM TREND ; SIDEWAYS TARGET RS 23760 TO 24520
LONG TERM TREND : BULLISH : TARGET RS 26800
Silver futures for July delivery fell 22 cents, or 1.3%, to $US17.21 an ounce. The metal has climbed
32% in the past 12 months.
The Dollar extended losses against the Euro having slipped sharply on Friday
after Data showed U.S unemployment jumped to 5.5 % in May, denting
hopes for a hike in U.S intrest rates.
SHORT TERM TREND ; SIDEWAYS TARGET RS 23760 TO 24520
LONG TERM TREND : BULLISH : TARGET RS 26800
Silver futures for July delivery fell 22 cents, or 1.3%, to $US17.21 an ounce. The metal has climbed
32% in the past 12 months.
The Dollar extended losses against the Euro having slipped sharply on Friday
after Data showed U.S unemployment jumped to 5.5 % in May, denting
hopes for a hike in U.S intrest rates.
Friday, June 6, 2008
UPDATES ON 6 JUNE 2008
JUNE 6 FRIDAY
SHORT TERM TREND : SIDEWAYS : TARGET RS 23620 TO 24360
LONG TERM TREND : BULLISH : TARGET RS 26800
S1 RS 23760, S2 RS 23620, S3 RS 23460
R1 RS 24080, R2 RS 24260, R3 RS 24410
MARKET IS EXPECTED TO MOVE SIDEWAYS.
silver was up to $17.21 per ounce from $17.17.
SHORT TERM TREND : SIDEWAYS : TARGET RS 23620 TO 24360
LONG TERM TREND : BULLISH : TARGET RS 26800
S1 RS 23760, S2 RS 23620, S3 RS 23460
R1 RS 24080, R2 RS 24260, R3 RS 24410
MARKET IS EXPECTED TO MOVE SIDEWAYS.
silver was up to $17.21 per ounce from $17.17.
Thursday, June 5, 2008
UPDATES ON JUNE 5 2008
JUNE 5 THURSDAY
Silver futures for July delivery gained 10.5 cents, or 0.6 percent, to $16.94 an
ounce.
The metal has climbed 14 percent this year.
The metal will average $17.30 an ounce this year, Standard Chartered
analysts led by Helen Henton said in a report yesterday.
Earlier today, the price dropped as much as 1.3 percent. Silver slid
2.7 percent from a week earlier.
TRADE RECOMMENDATION
SELL SILVER BELOW RS 23550
STOP LOSS RS 23660
TARGET RS 23440, 23335, 23200
IMPORTANT SUPPORT AND RESISTENCE
S1 RS 23524 , R2 RS 23122, R3 RS 23069
R1 RS 12343, R2 RS 12415, R3 RS 12550
Silver futures for July delivery gained 10.5 cents, or 0.6 percent, to $16.94 an
ounce.
The metal has climbed 14 percent this year.
The metal will average $17.30 an ounce this year, Standard Chartered
analysts led by Helen Henton said in a report yesterday.
Earlier today, the price dropped as much as 1.3 percent. Silver slid
2.7 percent from a week earlier.
TRADE RECOMMENDATION
SELL SILVER BELOW RS 23550
STOP LOSS RS 23660
TARGET RS 23440, 23335, 23200
IMPORTANT SUPPORT AND RESISTENCE
S1 RS 23524 , R2 RS 23122, R3 RS 23069
R1 RS 12343, R2 RS 12415, R3 RS 12550
Tuesday, June 3, 2008
UPDATES ON 3 JUNE 2008
JUNE 3 TUESDAY
SHORT TERM TREND : SIDEWAYS ; TARGET RS 23240 TO 23670
LONG TERM TREND : BULLISH : TARGET RS 26800
S1 RS 23260, S2 RS 23080, S3 RS 22920
R1 RS 23670, R2 RS 23840, R3 RS 24020
MARKET IS EXPECTED TO MOVE SIDEWAYS.
Gold rose on speculation that investors may stock up on the metal,
after the biggest weekly drop in price since mid March.Silver also
gained.
Silver futures for July delivery rose 4.5 cents or 0.3 % , to $ 16.91 an
ounce.The metal has climbed 13 % this year while gold climbed 7 %.
SHORT TERM TREND : SIDEWAYS ; TARGET RS 23240 TO 23670
LONG TERM TREND : BULLISH : TARGET RS 26800
S1 RS 23260, S2 RS 23080, S3 RS 22920
R1 RS 23670, R2 RS 23840, R3 RS 24020
MARKET IS EXPECTED TO MOVE SIDEWAYS.
Gold rose on speculation that investors may stock up on the metal,
after the biggest weekly drop in price since mid March.Silver also
gained.
Silver futures for July delivery rose 4.5 cents or 0.3 % , to $ 16.91 an
ounce.The metal has climbed 13 % this year while gold climbed 7 %.
Monday, June 2, 2008
UPDATES ON 2 JUNE 2008
JUNE 2 2008
SHORT TERM TREND :SIDEWAYS : TARGET RS 23020 TO 23520
LONG TERM TREND : BULLISH :TARGET RS 26800
MARKET IS EXPECTED TO MOVE SIDEWAYS.
Silver prices are expected to toe Gold prices in the near term.
For mid term ,waning demand and rising dollar is expected to
weigh its prices.
SHORT TERM TREND :SIDEWAYS : TARGET RS 23020 TO 23520
LONG TERM TREND : BULLISH :TARGET RS 26800
MARKET IS EXPECTED TO MOVE SIDEWAYS.
Silver prices are expected to toe Gold prices in the near term.
For mid term ,waning demand and rising dollar is expected to
weigh its prices.
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