MCX Hot Commodities (Silver ,Gild) Weekly Technical report 9 May To 14 may 2011

Market Overview Gold
COMEX Gold is in an upward phase. Last week COMEX Gold does not sustain on higher level and closed near to its week low. In the coming week 1460$ will act as a major support in COMEX Gold, if COMEX Gold sustains above 1460 $ an ounce then above 1505 $ an ounce it can touch the level of 1525$ an ounce and if COMEX Gold sustains below 1460$ then it can slightly correct and test the level of 1440$ an ounce.
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MCX Bullion Weekly Report 9 may To 14 May 2011

SILVER RISE ENDS FIVE-DAY ROUT, GOLD UP ON US JOBS
Silver rose 2 percent on Friday, snapping a five-day losing streak that cut prices by almost a third, while Gold rose after encouraging U.S. jobs data
triggered a broad bounce in beaten-down commodities. Silver, hit by a succession of margin hikes that nearly doubled costs, had suffered the biggest
sell-off since prices collapsed in 1980. COMEX OPEN INTEREST UP

MCX Bullion last Week Report|MCX Silver and gold Tips

MCX Bullion last Week Report|MCX Silver and gold Tips

MCX Bullion last Week Report

Gold and silver prices have stopped declining series. 1491 dollar gold and silver are trading at $ 36.

On Friday COMEX silver prices are about 2 percent faster. 5-day continuous fall off the silver was close to $ 35.

COMEX half per cent on the edge with gold closed at $ 1487. Ludhce week, gold prices were 5 per cent.

Crude oil prices below $ 100 is reached. Right now crude oil is trading at $ 97 a barrel.

Crude oil's biggest weekly decline in 2 years. NYMEX week on crude oil declined 15 percent. On Friday, crude oil closed below 96 dollars a barrel.

U.S., China and European countries expected to decline in the demand for heavy crude oil prices declined. Also, I firmly dollar and U.S. stocks surge in crude oil prices also increased the pressure on.