AUG 29 FRIDAY
SHORT TERM TREND : SIDEWAYS
LONG TERM TTREND : BEARISH
S1 RS 20060, S2 RS 19860
R1 RS 20560, R2 RS 20880
WAIT FOR CONFIRMATION.
Silver for immediate delivery was little changed at $13.7250 an ounce.
Gold headed for the second weekly gain after oil rose and the
dollar retreated against the euro, boosting the appeal of the
precious metal as an inflation hedge.
Gold is supported as crude oil prices advanced.
Tropical Storm Gustav is still pretty much on everybody's mind.
Crude oil for October delivery rose $1.34, or 1.2 percent, to
$116.93 a barrel at 1:20 p.m. Singapore time on the New York
Mercantile Exchange. Futures fell $2.56, or 2.2 percent, to
$115.59 a barrel yesterday.
With the long-weekend coming up in the U.S. liquidity remains very thin.
Prices could jump up and down a few dollars quite easily.
Markets in the U.S. will be closed Sept. 1 for a Labor
Day holiday.
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