-- Posted Monday, 22 December 2008 | Digg This Article
| Source: GoldSeek.com
DAILY SPOT GOLD AND SILVER REPORT – ONLY FOR THE JEWELLERS
GENERAL MARKET CONDITIONS/FUNDAMENTAL FACTOR
| LTP | %CHG | YTD% | PREV. DAY HIGH | PREV. DAY LOW | 10 DAY ma | 50 DAY MA | 100 DAY MA | LONDON AM FIXING | LONDON PMFIXING |
SPOT GOLD | $844.30 | -0.98 | 1.39 | $854.20 | $830.90 | $832.34 | $776.79 | $806.29 | $839.00 | $835.75 |
SPOT SILVER | $10.99 | 0.64 | -25.44 | $10.98 | $10.66 | $10.66 | $9.90 | $11.36 | $10.61 | |
Last week
It will a volatile week but gold and silver still ended the week on a positive note. Gold and silver demand in India was stable.
Indian Rupee
The rupee will be volatile this week. 47.62 is the key resistance while 46.32 is the key support. The net purchases by the foreign institutional investors are positive on the stock markets as well as on the foreign direct investment side. This should result in the rupee trading with a stronger bias this week and till the New year.
TODAY
It will be technical trade. Technically gold and silver are in a neutral zone.
TECHNICAL VIEW
SPOT GOLD
SPOT GOLD TECHNICAL LEVELS |
SUPPORT | RESISTANCE |
| S2 | S3 | S4 | R1 | R2 | R3 | R4 |
$806.60 | $824.50 | $830.00 | $839.20 | $853.40 | $865.70 | $872.60 | $889.20 |
Gold once again targets $865 and $890 as long as $820 holds. Fresh selling will be there only if gold falls below $820.0.
SPOT SILVER
SPOT SILVER TECHNICAL LEVELS |
SUPPORT | RESISTANCE |
S1 | S2 | S3 | S4 | R1 | R2 | R3 | R4 |
$10.20 | $10.45 | $10.78 | $10.94 | $11.08 | $11.36 | $11.65 | $11.86 |
Till 31st December, silver is bullish over $10.10. As long as $10.10 holds silver can target $12.20 and $13.00
PHYSICAL GOLD AND SILVER – INDIAN RUPEE TERMS
This week gold is bullish over 12500 as long as gold holds 12500 it will target 13200-13600. If gold falls below 12500 then 12000 and 11700 are targets. Silver, this week is bullish over 16900, if silver holds 16900 then 18000 and 18600 are targets. If silver does not hold 16900 then 15900 is the target.
NOTE: All gold prices in Indian rupees are per ten grams and all silver prices in Indian rupees are per kilogram. All prices are in Indian rupees unless other wise specifically stated.
THIS REPORT IS FREE TILL 31ST DECEMBER, 2008 AFTER THAT IT WILL BE ONLY FOR SUBCRIBERS. TO RECEIVE A COPY OF THE REPORT ON YOUR MAIL BOX MAIL A REQUEST TO consultants.insignia@gmail.com
Disclaimer: Any opinions as to the commentary, market information, and future direction of prices of specific currencies, metals and commodities reflect the views of the individual analyst, In no event shall Insignia Consultants or its employees have any liability for any losses incurred in connection with any decision made, action or inaction taken by any party in reliance upon the information provided in this material; or in any delays, inaccuracies, errors in, or omissions of Information. Nothing in this article is, or should be construed as, investment advice. Prepared By Chintan Karnani. Website www.insigniaconsultants.in
-- Posted Monday, 22 December 2008 | Digg This Article | Source: GoldSeek.com
