Unemployment Rate In U.S. at 26 years High & They Also Provides Negative Trend To Base metals. Some Supports To Copper Prices Given By Improving Existing & New Home Sales In U.S.
Copper Charts Looking Weak Resistance Seen At Rs 317 - 328 & Supports Seen At Rs 278 - 282 range.
But For Next Two Months Copper Looking To Trade In Range Of Rs 260 - 340
Bullionguru.com
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
Gold is best source to hedge against inflation . But Gold at near 18000 in Indian retail Markets . Medium salary & Business Class parents unable to give Gold pendants, jewellery sets. in this Children Marriages. Because they have only 2 - 3 lakhs for each child.
But Now a day , In Rs 2 lakhs they have to buy a few things. Demand of Gold in Indian Markets remain decreases. Demand of Diamond jewellery filled with less costlier metal in Place of Gold Increases.
Demand Of Artificial Jewellery Took Growth of 300 % From Last 2yrs In Indian Market.
According To the Latest Statements Came From Fed's & ECB Meeting gives Downturn To Gold Prices In Next Year. They Do not want to Renew Easy Loans To Banks by Which they Directly Fuse The Bulb Of Inflation & Dubai Crisis Is Also Consideration.
We See Gold prices at Rs 12000-15000 for next Year Aug – Dec 2010 .
Dow Jones also providing good support to te economy by crossing 9000 mark. That’s showing the hilarious marks on global economy removing by occurring housing demand in U.S.
Traders & investor also have lack instrest in gold market, now they starting investing major equity funds or directly in the stock market.
If comes Gold do not cross level of $960, then we for see Gold prices to $920 to $860 levels in late July or August or more downside.
www.Bullionguru.com
As per we all saw that, Gold Made a high of $990 in beginning of June Month & Continuously corrected to $927 as on 17 Jun 2009. According to my trends theory, If Gold unable to break $940-960 levels, then we for see Gold prices in Comex , Nymex trades at $900-860-820-760 & In Mcx Trades at 13500 – 12800 – 12000 – 11000 in next three months. After June wedding reason is over in India for next three month .But in September jewellery Wholesalers & retailers can add more Gold in their inventory in down prices for their year end festival sales.
www.bullionguru.com
| After making 6 months high of Rs 258, According to my previous target, Copper continuously witness of profit booking & technical selling. But according to the latest World economic data of Unemployment , we PROPOSED our copper target in MCX of Rs 222 – 210 for next three months. Copper maintains supports zone in Mcx at Rs 206 zone. But In Lme ,Copper maintain crucial Levels of 1.720 – 1.750 & then target 1.880 – 2.011 for next three month. www.bullionguru.com |
DOW JONES INDUSTRIAL INDEX HOVERING NEAR 8800 LEVELS, TECHNICAL CHARTS OF DOW – JONES INDUSTRIAL SHOWING THAT DOW FACES STRONG RESISTANCE AT 8800 – 9000 LEVEL. THESE LEVELS NOT LOOKING TO CROSS BY DOW ,IF WE SEE THE ECONOMIC CONDITION OF GLOBAL ECONOMY.
THEN WE FOR SEE DOW – JONES TRADES DOWNWARD TREND HITS 8400 – 8200 – 7800 – 7400 - 7200 IN NEAR FUTURE TRADES.
BUT IF DOW JONES CROSSES THIS LEVEL THEN WE FOR SEE 9400 – 9600 – 9800 FOR MAXIMUM UPSIDE.
GLOBAL ECONOMY REVIVES OR NOT , BUT ACCORDING TO THE TECHNICAL TRENDS DOW HITS 7800 – 7400 ONE TIME IN THEIR FUTURE TRADES.
www.bullionguru.com
