AUG 27 WEDNESDAY
SHORT TERM TREND : BULLISH
LONG TERM TREND : BEARISH
SUPPORT 1 RS 20140 , SUPPORT 2 RS 19960
RESISTENCE 1 RS 20540, RESISTENCE 2 RS 20780
BUY AT RS 20280 TO RS 20290
STOP LOSS RS 20060
TARGET RS 20680
Silver for immediate delivery advanced 0.4 percent to $13.65 an ounce.
Gold rose for the second day in Asia as the dollar's decline from
a six-month high against the euro and crude oil's advance
boosted the appeal of the precious metal as an
alternative asset.
The dollar fell from a six-month high against the euro on
speculation weakening business and consumer spending
will discourage the Federal Reserve from raising
interest rates.
The dollar declined to $1.4708 per euro from $1.4653 yesterday,
when it touched $1.4571, the strongest since Feb. 14. Crude oil
in New York rallied 0.3 percent to $116.58 a barrel after
advancing 1 percent yesterday. Prices are up 61 percent
from a year ago.
The U.S. dollar appears to be climbing higher with the market
looking for more reasons to buy rather than sell the
previously unloved currency.
A choppy oil price may limit price declines in bullion.
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