RBI DEAL OF 200 TONNES GOLD WITH IMF

It Was Strong Step Took by the RBI with Confirming With Central Govt For Buying 200mt Gold From IMF ( International Monetary Fund) , Because IMF Needs Money For Help Of Many Asian , European & South African For Taking Out Of Recession Increasing The Standard Of Life & Make The Potential Economy.

This Step Helps in Showing Out The current Situation Of Liquidity In India. It Also Increases the Confidence Of Local Gold Consumer To Buy Gold At High Prices .

It Also Increases the Confidence OF FII & Attracts More Money to Indian Equity & Debt Markets .

Gold Have Major Support Levels 1072 - 1097 - 1116 & Resistance Levels 1124 - 1140 - 1160.

Still Gold Trend Bullish & Charts Are Strong , Major Support Seen At 1096 - 1102 Range. If Gold Trades Under This Support Then Trend Down Unless It Is Bullish. It Looking To Hit 1124 - 1140 - 1150.

Bullionguru.com