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.
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