MCX Gold Tend and Target For Today
MCX GOLD (FEB) -*Gold FEB contract which will expire on 4th*FEB 2012. Gold gave a bearish run as the US debt default concern made the investors cautious. Resistance and support levels for the today’s session are: MCX Gold Target
SUPPORT 1: 27735, SUPPORT 2: 27615
RESISTANCE 1: 27925, RESISTANCE 2: 28055
Gold prices are trading in a narrow range, however profit booking is expected around 27569 . Oscillators are suggesting flat to up move ahead.
Silver prices have ended the day by giving up all the gains in the morning session. Prices are expected to test 55100 - 54700, which should act as a support for buying with a stop loss of 53000.Oscillators are heading up.
Nickel prices witnessed profit booking as it entered the resistance zone at 1030- 1035, one can buy around 1025 -1020 with a stop loss of 990. oscillators are heading up.
Gold prices have witnessed a support from 28040 -28020 and recovered from the low and ended higher, prices are expected to test 28300 -320 on higher end.
Silver prices are likely to remain positive if sustains above 56200 and test 57550 on higher end. Oscillators are in negative zone.
Copper prices are holding the middle bollinger band on closing, can test 434-435 on higher end which seems a good resistance for the metal. Oscillators indicating range bound move ahead.
The speed at which the rate of gold is going high shows that, in the coming years the people who have invested their money on this thing are going to get excellent returns for themselves as the list indicates that in the coming future the rate is likely to go high.
Will anyone please guide me when should I buy Gold. I am new in the commodities market and just getting to know my way around. Ihope
Dave, Go long on Gold when it dips like 5% and if you keep rolling over positions, you can benefit. Gold has been pretty strong in INR though it has fallen with respect to USD ...
Commodity Market Outlook
• Gold headed for the longest rally in six months
• Silver futures for May delivery rose 1.1 percent to $29.16 an ounce
• Copper rose for a second day in New York
• Nickel, tin, aluminum and lead rose in London.
Gold headed for the longest rally in six months as signs of slowing growth in Europe increased speculation that central banks will expand stimulus, boosting demand for precious metals as a store of value. Copper rose for a second day in New York as global equities strengthened and Chinese passenger-vehicle sales had the strongest start to a year since 2010.
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Well assisted by some of the top stocks from FMCG, Metal and IT sectors, Nifty the fifty share index, looked re-achieving its feat that it acquiring during the last few weeks. On the other hand, Sensex showed good character with a whooping jump of 190 points today.
Today’s rally, which is all expected to go on, is likely to help Nifty regain its lost glory of 8000 pts. The fifty share index looks well complimented by Sensex which already on its way towards 27000 mark. Gains from industry majors like HDFC, RILBSE, TCS and Infosys have pioneered this rise in the Sensex index.
Many stock analysts and market experts feel these shares are on a buy call as there is more momentum likely in them
I appreciate your knowledge about the market, Traders can easily understand how to make a good profit with their investment.
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