AUG 26 TUESDAY
SHORT TERM TREND : SIDEWAYS
LONG TERM TREND : BEARISH
S1 RS 20040, S2 RS 19840 ,
R1 20360, R2 RS 20540
MARKET IS EXPECTED TO MOVE SIDEWAYS
September silver fell 0.8% to $13.37 an ounce.
Gold futures closed lower Monday, with traders taking profit
from last week's 5% rally and finding little indication for
direction from the U.S. dollar and oil.
Gold's slip was limited by a mixed U.S. dollar, with the greenback
trading almost flat against the British pound. The pound bought
$1.8522 recently. The dollar gained modestly against the euro,
with the European currency buying $1.4755.
Resales of U.S. single-family homes and condominiums rose
in July but inventories also increased, reaching record levels,
data showed Monday.
The dollar index, which tracks the value of the greenback against
a basket of other major currencies, was at 76.80, almost
unchanged from Friday.
Dollar-denominated gold prices tend to move in the opposite\
direction of the greenback.
Nymex crude for October delivery closed 52 cents higher at
$115.11 a barrel on the Nymex.
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