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Gold eased on Friday as traders booked profits after a seven-day rally and as the dollar rebounded on strong US data, but the metal still looked set to post its second straight weekly gain on expectations US interest rates will stay low for longer. Gold is weakening because of profit-taking and a slightly stronger dollar. Gold prices fell by 0.38 per cent to Rs 26,948 per 10 grams in futures trade today as speculators locked-in gains amid weak global trends. Silver prices fell sharply by Rs 197 to Rs 38,900 per kg in futures trade today due to profit-booking at existing levels and weak trend overseas.
The Gold is
in perfect uptrend .Currently Gold is showing some up move after small
correction and trend is strong and supported with good volume The open interest
is not increasing with trend. Caution note buying at higer levels seems
decreasing. The Gold is now trading in overbought level. The Gold is now
trading in overbought level.
Gold eased on Friday as traders booked profits after a seven-day rally and as the dollar rebounded on strong US data, but the metal still looked set to post its second straight weekly gain on expectations US interest rates will stay low for longer. Gold is weakening because of profit-taking and a slightly stronger dollar. Gold prices fell by 0.38 per cent to Rs 26,948 per 10 grams in futures trade today as speculators locked-in gains amid weak global trends. Silver prices fell sharply by Rs 197 to Rs 38,900 per kg in futures trade today due to profit-booking at existing levels and weak trend overseas.
R2
|
R1
|
PIVOT POINT
|
S1
|
S2
|
27096
|
27047
|
27000
|
26676
|
26576
|
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