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Saturday, April 9, 2011

Commodities Market Technical outlook | Weekly for 11 to 16 april

Gold Market Overview and Strate
COMEX Gold is in an upward phase. Last week COMEX Gold sustains on higher level and closed near to its week high. In the coming week 1375$ will act as a major support in COMEX Gold, if COMEX Gold sustains above 1450 $ an ounce then above 1480 $ an ounce it can touch the level of 1500$ an ounce and if COMEX Gold sustains below 1430$ then it can slightly correct and test the level of 1410$ an ounce. 

MCX Bullion Weekly Report and Fundamental Market Overview

Gold rose to a record high for a fourth straight day and silver surged on Friday, as a weaker dollar, the prospect of a U.S. government shutdown and inflation worries lifted precious metals in a broad commodities rally. Gold notched its biggest weekly gain in four months, drawing support from renewed euro zone sovereign debt fears amid Portugal's financial crisis and inflation jitters as Crude oil and corn hit new highs this week. Bullion broke above key resistance on technical charts and could target above $1,500 an ounce. The metal has risen more than 10 percent since late January when political unrest began to flare in the Middle East and North Africa.

Gold and Silver Touched New high and Dollar touched level of December 2009

Growing fears of inflation rise in crude oil between the gold and silver reached new heights.
COMEX 1476 dollars per ounce on gold has been over. During this silver also has succeeded in establishing a new record. $ 41 per ounce of silver in the overseas market has been extremely close.
International market during the week, gold prices have gone up about 3.5 percent. Mainly because of dollar weakness came in gold and silver prices are getting support.
In fact, European Central Bank raise rates of interest after the world's 6 major currency against the dollar level of December 2009 has come.

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