JULY 15 TUESDAY
SHORT TERM TREND : BULLISH: TARGET RS 27380
LONG TERM TREND : BULLISH : TARGET RS 27300
S1 RS 26560, S2 RS 26380, S3 RS 26160
R1 RS 26830, R2 RS 27060, R3 RS 27380
PREFER LONGS AT RS 26580 TO 26560
STOP LOSS RS 26380
TARGET RS 26830
Also on the Nymex, September silver rose 43 cents to
end at $19.25 an ounce.
"The news of Fannie and Freddie is just confirmation that
the federal government is willing to effectively nationalize
and print money to bail out these monstrous financial time
bombs," said Peter Spina, chief investment analyst at
GoldSeek.com.
Gold is supported by "continuing apprehensions about the
financial system despite the successful sale of $3 billion in
short-term notes by Freddie Mac this morning," said Jon
Nadler, senior analyst at Kitco Bullion Dealers.
The dollar pared most of its gains Monday, as the government's
weekend rescue of Fannie and Freddie highlighted fears about
the U.S. financial sector.
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