Wednesday, June 1, 2011

Gold Updates

Gold Tips : Due to worsen UD economic data resulted strong buying forces in Gold being a safe haven assets and closed almost near to days high. Over all trend is very bullish and decline to buy side.... Today support is 22400-22350 range.. crossover..?.... and stay with volume do not remain short.... Remember target 22800 in coming days.  

Gold futures edged flat to negative to settled at -0.34 at 22668, before that hitting a fresh four-week high as prices were boosted by a broadly weaker U.S. dollar, however gains were limited as fears over a Greek default eased. Weakness in the U.S. dollar contributed to gold’s strength. The greenback dropped to a three-week low against the euro following reports that Germany could make concessions to facilitate a new bailout package for Greece.

As we have predicted in out last week report that Gold might Fall down till 21200 levels, but it did not go into that direction. Prices are continu-ously rising because of global uncertainties and weak dollar. For the coming week , we expect gold updates prices might fall down till 21800 levels .

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