SHORT TERM TREND : BEARISH
LONG TERM TREND : BEARISH
S1 RS 19740 , S2 RS 19520
R1 RS 20080 , R2 20260
SELL AT 20080 TO 20100
STOP LOSS RS 20280
TARGET RS 19740
Gold slipped back below $800 an ounce on Thursday as
the dollar resumed its climb against the euro and oil
prices dropped more than $1 a barrel on fears
of weak demand.
Weaker oil prices weighed on sentiment, with gold's appeal
as an inflation hedge diminished as crude prices finished
more than $1 a barrel lower.
The dollar's rally has reduced gold's appeal to investors as
a hedge against weakness in the U.S currency, with
bullion prices down from $980 an ounce seen when
the dollar hit its all-time low against the euro back
in mid-July.
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