Market Update

Market Watch

Monday 8 July 2013

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Gold futures fell to a one-week low

Silver futures for September delivery tumbled 4.9 percent

U.S. jobless rate stayed at 7.6 percent last month

Crude rose to a 14-month high

U.S. payrolls advanced by 195,000 workers

Gold futures fell to a one-week low as the dollar surged to the highest in almost three years after U.S. payrolls rose more than forecast in June, fueling speculation that the Federal Reserve will scale back stimulus. Silver futures for September delivery tumbled 4.9 percent to $18.736 an ounce on the Comex, the biggest decline since June 20. The metal has dropped 38 percent this year. Crude rose to a 14-month high after the U.S. reported adding more jobs than forecast in June, boosting economic optimism, and on concern that unrest in Egypt will escalate. The U.S. jobless rate stayed at 7.6 percent last month, while hourly earnings in the year ended in June advanced by the most since July 2011, according to the Labor Department.


TECHNICAL VIEW
GOLD (AUG) 
Trend       • Consolidate
Strategy      • Sell on high

Resistance  • R2 - 26780 ;  R1 - 26250
support       • S1 – 25850 ; S2 – 25580


SILVER (JUL)

Trend          • Consolidate
Strategy      • Sell on high      
Resistance  • R2 - 42450; R1 - 41270             
support       • S1 - 39150; S2 – 37500

STOCK CASH PLUS CALLS 04-07-2013
BUY CERA SANITRYWARE (LCP 501.05) ABOVE 503 
TG-509-517 
BUY AJANTA PHARMA (LCP-987.95) ABOVE 990 
 TG-997-1010
 BUY CERA SANITRYWARE (LCP 501.05) ABOVE 503
 TG-509-517 
BUY AJANTA PHARMA (LCP-987.95) ABOVE 990 
 TG-997-1010
 
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