AUG 28 THURSDAY
SHORT TERM TREND : SIDEWAYS
LONG TERM TREND : BEARISH
S1 RS 20120 , S2 RS 19940
R1 RS 20560 , R2 RS 20880
Silver firmed to$13.61/13.67 an ounce from $13.49/13.55
an ounce late in NewYork.
Gold climbs further on oil but resistance levels intact.
Oil firms above $119 on supply fears.
Investors await second-quarter U.S. GDP data.
Gold rose as much as 1percent on Thursday on safe-
haven buying as oil continued itsascent and on a sliding
dollar, but it would have to crack key resistance levels
to sustain the uptrend.
Oil rose for a fourth straight day to stay above $118 a
barrel on Thursday, on fears Tropical Storm Gustav
may hit theGulf of Mexico after it morphs into a major
hurricane,paralysing the heart of U.S. offshore production.
The euro edged up to $1.4781 recovering from asix-month
low of $1.4570 hit on Tuesday, after comments by a
European Central Bank official the previous day scaled
back speculation about an ECB rate cut.
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