Gold and Silver Weekly Technical Report 6 June to 11 June 2011

MARKET OVERVIEW
COMEX Gold is in an upward phase. Last week
COMEX Gold sustain above 1520$ and made a
close near to its week high. In the coming week
1475$ will act as a major support in COMEX Gold, if
COMEX Gold sustains above 1520 $ an ounce
then above 1550 $ an ounce it can touch the level of
1565$ an ounce and if COMEX Gold sustains
below 1500$ then it can slightly correct and test the
level of 1485$ an ounce 

STRATEGY
For the next week traders can use buy on lower level strategy if COMEX Gold sustains above 1520 $ an ounce, then above 1550$ it can test the level of 1565 $ an ounce and above 1575$ it can further move upward. Trade by keeping the strict stop losses.
         Major support for COMEX Gold in the coming week is 1500$ and 1460$.
         Major resistance for COMEX Gold in the coming week is 1580$ and 1625$
         Major support in MCX Gold is 22400 and 22200
         Major resistance in MCX Gold is 22850 and 23050
MARKET OVERVIEW
COMEX Silver is technically consolidating on
charts. Last week COMEX Silver was sustaining at
lower levels for most part of the week. For the
upcoming week 3480$ and 3250$ are the crucial
supports and 4000$ and 4250 $ are crucial
resistance in COMEX Silver. In MCX Silver 61000
and 64000 will act as major resistance and 52000
and 50000 will act as major supports. 

STRATEGY 

Technically COMEX Silver is bullish on charts and still in an upward channel, For the next week traders can use buy on
lower level strategy if Silver sustains above the level of 3600$ an ounce, then above 3900$ an ounce it can further go
upward and can test the level of 4000$ an ounce. Trade by keeping the proper stop losses.

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MCX Bullion Weekly Report 6 June To 11 June 2011 | MCX Tips

Fundamental Market Overview
GOLD GAINS ON SOFT US JOBS DATA, FALLING DOLLAR
Gold rose to near its highest in a month on Friday, boosted by a weak
U.S. labor report that illustrated the fragile state of the economic
recovery, likely keeping rates low and the dollar weak for awhile. Bullion
jumped, while stocks and oil fell, in the wake of data showing U.S.
employers hired 54,000 workers in May, far fewer workers than
expected, and the unemployment rate rose to 9.1 percent. Technical View and Strategy Click Here

NCDEX Agri Market Hot News | Analysis About Equity Fund

 Agri-commodities today
The prices of all major commodities ruled steady in the wholesale foodgrains market here today.
The following are the wholesale rates of various agri-commodities today (in rupees per quintal, except where stated otherwise): tur dal Rs 6,000, urad dal Rs 6,600, moong dal Rs 6,600, gram dal Rs 3,000, sugar Rs 2,700, wheat Rs 1,800, maida (90 kg) Rs 1,650 and sooji (90 kg) Rs 1,750.PTI TRK TRK.Click Here To Raed MORE
 Stock Cash Market Hot News
Diversified equity funds managed to perform better than the broader market in May, as exposure to sectors like capital goods and healthcare helped unit values.

Such funds, which form the largest category of equity funds by number and assets, fell 2.4 percent during the month, compared to a 3.3 percent fall in the BSE Sensex, data from Lipper, a Thomson Reuters company, showed.

Fears of further rate hikes, high inflation and worries about the euro zone debt crisis kept investors on the edge in May, as the benchmark fell for a second consecutive month.
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MCX Bullion and Basemetals Market Analysis and Prediction | Silver under 50,000

MCX Bullion  Call
MCX silver (July Futures): Buy - 53600-53650, Stoploss -53400 and the target - 53850

MCX Gold (August Futures):Buy - 22260-22270, Stoploss - 22600 and the target - 22,500

 MCX Barometer
The sharp decline in silver. MCX silver at 1 per cent is broken. While COmex $ 36 on the silver has been going down. Gold trading is too dull Today.
MCX Comdex was down by 0.55% to 3,464.26 points, MCX Energy was up by 0.26% to 3,226.17 points and MCX Metal was down by 1.37% to 4,482.47 points.
MCX Bullion Outlook Today and News MCX Gold and Silver Market Prediction That Trend Will Be What Down or Up Analysis Click Here
All bullion contracts showed down trend. Gold June 11 contract was down 0.31% to Rs 22,307 per 10 grams, GoldM June 11 contract was down by 0.24% to Rs 22,330 per 10 grams and Gold guinea June 11 contract was down by 0.18% to Rs 18,008 per 8 grams and Gold Petal July 11 contract was down by 0.87% to Rs 2,282 per grm. Silver July 11 contract was down by 3.40% to Rs 54,633 per kg, SilverM June 11 contract was down by 3.99% to Rs 54,651 per kg and Silver MIC June 11 contract was down by 3.99% to Rs 54,663 per kg.
MCX Energy Outlook Today
All energy contracts showed mixed trend. Natural gas June 11 contract was up by 8.68% to Rs 215.40 per MMBTU while crude oil August 11 contract was down 1.35% to Rs 4604.00 per barrel.
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MCX Bullion Daily News Letter Today 3 June 2011

GOLD GAINS FOR SECOND DAY AS US WORRIES MOUNT.
OIL FIRMS AS DOLLAR FALLS, OPEC EYES TARGET HIKE.
COPPER DIPS ON GLOOMY US ECONOMIC OUTLOOK.
DOMESTIC OIL SEED AND EDIBLE OIL OFFER UP.
MCX Live News and Technical Report of Gold and Silver
Gold eased but held in sight of four-week highs on Thursday, supported by concern about the outlook for U.S. growth and the European debt crisis. The dollar has fallen to its lowest in a month against a basket of currencies. Copper fell to its lowest in a week on Thursday after U.S. weekly jobless claims fell less than expected, heightening concerns about the world's biggest economy and outweighing a normally supportive weak dollar. Crude oil prices slipped in choppy trading on Thursday, reversing earlier gains, due to an unexpected jump in crude oil inventories in the United States.
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MCX Precioumetals Call | MCX Market Analysis News

Tips or Call For Precious Metals
Note:- Don't Make Any Position At This Time . I will Suggest After Data Come. Read More About Silver Technical Report

A divergent trend developed in the bullion market on Thursday as silver plunged by Rs 1,500 to Rs 56,000 per kg on selling by stockists and gold recovered by Rs 120 to Rs 22,820 per 10 grams.

Gold gained on fresh buying by retailers for the ongoing marriage season and wiped off most of the previous day''s losses.

Silver coins followed suit and nose-dived by Rs 4,500 to Rs 61,000 for buying and Rs 62,000 for selling of 100 pieces.

A similar trend overseas further fuelled the trading sentiment in the national capital. While gold rose by USD 4.80 to USD 1,539.10 an ounce and silver plunged by 4.29 per cent to USD 36.82 an ounce in New York.

On the domestic front, silver ready tumbled further by Rs 1,500 to Rs 56,000 per kg. It had lost Rs 800 on Wednesday.
Silver Weekly Analysis
Silver weekly-based delivery moved down by Rs 1,490 to Rs 56,000 per kg, after losing Rs 810 in the last trading session.

On the other hand, the gold of 99.9 and 99.5 per cent purity bounced back by Rs 120 each to Rs 22,820 and Rs 22,700 per 10 grams, respectively. The yellow metal had lost Rs 170 in the previous session.

Sovereigns continued to be asked around the previous level of Rs 18,700 per piece of eight grams in restricted buying.
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MCX Gold and Silver Suppoer and resitance For Today 2 June 2011

Gold rebounded from early losses on Wednesday
Silver slips almost 2% on Wednesday
Oil falls on weak US economic data
Copper slips on growth concerns
Stocks of copper in LME warehouses rose 3,075 tonnes
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MCX Bullion Daily News Letter Today 2 June 2011 | MCX Silver Calls

GOLD EDGES DOWN ON EASING GREEK DEBT FEAR.
OIL STEADY ON DISPRUTION ON U.S. SUPPLY.
COPPER DOWN ON CONCERNS CHINA TO TIGHTEN MONETARY POLICY.
DOMESTIC OIL SEED AND EDIBLE OIL TRADE LOWER.
MCX Gold and Silver Technical Analysis and Views Live Charts
Gold rebounded from early losses on Wednesday to a one-month high on safe-haven buying after U.S. manufacturing data for May came in well below forecasts and below the robust April reading. Oil prices fell on Wednesday as concerns that slowing economic growth will curb petroleum demand were reinforced by disappointing reports on U.S. private sector employment and manufacturing. Copper fell on Wednesday, on signs of slowing factory activity in China and Europe, and extended losses after below-consensus jobs and manufacturing data.
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