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Saturday, September 24, 2011

Bullion Technical and fundamental Weekly Report 26th Sept To 1th Oct 2011

MARKET OVERVIEW
COMEX Gold is in a technically weak on charts for short term. Last week COMEX Gold was not sustaining at higher level but on the last day it falls sharply. In the coming week 1500$ will act as a major support in COMEX Gold and 1920$ will act as a major resistance.
STRATEGY
For the next week traders can use sell on higher level strategy if COMEX Gold sustains below 1700 $ an ounce, then below 1600 $ it can test the level of 1560$/1540 $ an ounce. And in MCX Gold below 26000 it can test the level of 25550/25050/24600. Trade by keeping the strict stop losses.
Major support for COMEX Gold in the coming week is 1530$ and 1470$.
Major resistance for COMEX Gold in the coming week is 1840$ and 1880$
Major support in MCX Gold is 26500 and 25200
Major resistance in MCX Gold is 28300 and 28800
MARKET OVERVIEW
COMEX Silver is in a slightly downward in trend. Last week COMEX Silver was down for the whole week. For the upcoming week 2900 $ and 2500$ are the crucial supports and 4050$ and 4550$ are crucial resistance in COMEX Silver.
In MCX Silver 62000 and 65000 will act as major resistance and 49000 and 45000 will act as major supports.
STRATEGY
COMEX Silver is in a slightly downward in trend. Last week COMEX Silver was down for the whole week. For the upcoming week 2900 $ and 2500$ are the crucial supports and 4050$ and 4550$ are crucial resistance in COMEX Silver. In MCX Silver 62000 and 65000 will act as major resistance and 49000 and 45000 will act as major supports.

MCX Commodity Daily Newsletter For Monday 26 Sept 2011

High-flying gold crashes in record $100  fall.
Oil skids to 6-week lows on economic angst.
Copper down in worst weekly showing since Oct 2008.
INDIAN SPICES COMPLEX TRADE LOW.


MCX Bullion technical Report 26 Sept To 30 Sept 2011

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Bullion Gold and Silver Tips | Live Price and News Today

In terms of domestic market yesterday, 15 per cent fall on MCX silver closed at 52 644 rupees per kg. While on MCX gold with 6.5 per cent to close at 26 184 rupees per 10 grams.
Nearly 1 percent on NYMEX crude oil went down 80 dollars a barrel. Downside risk of recession is feared to reduce demand. Brent crude also fell nearly 1 percent to $ 105 a barrel has come down. NYMEX this week, crude oil has declined by 8 per cent. The Brent crude has declined by 7 per cent.
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MCX Commodity Tips - Gold , Silver News | Live price

MCX Commodity Tips - On MCX bullion metals faced lot of pressure today Silver decline more than Rs. 9000 closed at around Rs. 52600 Don't make any Buy long term position.
Tips For Today Sell below Rs. 52000 .
"Financial markets are sick and tired of the authorities in Europe and in the U.S. twiddling their thumbs and not doing substantive things to solve this crisis of the global economy," said Barton Biggs, managing partner at New York-based Traxis Partners. "The odds of a double-dip recession on a global basis are increasing rapidly."

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