Gold & Silver Sinks Due To Technical Selling

 Gold Fells Due To Technical Selling On Upper Levels in Comex, But Prices in MCX Still Above Rs 18000 mark.
But Prices Of  Mcx Silver In Continuously Fells As Like The Comex Silver From Rs 30120 to Rs 28440. Silver Funds are /still Buying Silver Due to Economic Debt Crisis Rises In Whole Europe.
But Gold Settlement Period Near At 5 June. due To Higher Prices In Mcx or Comex. Small are not much Interested in Buying Physical  Gold In India.
If Gold Breaks $ 1160 mark Then We For See Gold Prices at $ 1144 - 1120 In Comex & Rs 17700 - 17440 In MCX
If Silver Breaks $ 17.60 mark Then We For See Gold Prices at $ 17 - 16.40 In Comex & Rs 27500 - 26800 In MCX
                              

Gold & Silver Prices Falls Due To Technical Selling

Gold Prices Face Technically Selling Pressure Under $ 1140 & $ 1120 in Comex & Rs 17000 in Mcx Due To Hedging Made By The Bullion Importers & Jewellers Due To Lower Consumer Demand From Year -to - Year.

According to Recent Datas "Physical delivery of gold in settlement of contracts, a key indicator of genuine hedging, rose to 2.7 tonnes in February, compared with 0.348 tonnes a year ago, data from the MCX, India's largest commodity exchange for bullion, showed".

But Gold Holds Their Support Level At $  1097 to $ 1102. Trend Looking Still Support For Gold for Upside But Pressurize Due To Selling by Hedgers . Gold Prices Unable To Sustain Above $ 1140 Levels Or Above Rs 17000 in Mcx.

If Gold Breaks Their Support Of $ 1097 then We For See Gold Prices Up to $ 1080 - 1064 - 1042 & For Silver If It Breaks $ 16.96 then We For See Prices $16.60 - 16.30 - 15.90  in short term & Unless Over All Trends still Supportive & Bullish.

But In India, Indian Meteorological Department Expects a Better Rainfall In This Monsoon. If Monsoon Gives Better & Good Rainfall Then they also gives Support For Gold & Silver Prices For Upside Trend.http://www.bullionguru.com/goldsilvertrends.html