-- Posted Friday, 29 April 2005 | Digg This Article

 

GOLD	SILVER
COMEX GOLD JUNE FUTURE -- 432.70	COMEX SILVER MAY FUTURE -- 692.0
EXPECTED TRADING RANGE
GOLD -- 429.0 -- 439.0	SILVER -- 675.00 - 715.00
GENERAL MARKET CONDITIONS
Gold June futures fell to low of $432.20 yesterday before settling down at $432.40. Silver was battered due to a technical break down as the May futures fell to a low of $685 before closing at $690.70. The fall in crude oil July futures to $49.80 yesterday resulted in the slide of precious metals.   The US dollar is trading in a range as markets prepare for Fed meeting and other event risk next week. There is hardly anything to comment on the price movement today as the there is lack of market moving news. Economic numbers even from US is having a temporary effect on the precious metals. Euro needs to break the 1.2880 – 1.30 range and is bound to break this range next week.
GOLD…..
A fall below $432 will result $429.50. On the higher side high of $437 is the resistance. Overall the range trade should continue.
SILVER…..
Silver needs to close above $694 to prevent losses to $674 next week. On the higher side $710 is the resistance.
Happy Profitable Trading
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Prepared By Chintan Karnani. Web Site:www.insigniaindia.com

-- Posted Friday, 29 April 2005 | Digg This Article

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