US Gold slips three week low, MCX Gold down amid US stimulus concerns
MCX gold is expected to continue with its negative trend during
intra-day pressured by appreciation of Indian Rupee (INR) against US
Dollar (USD). MCX gold for October delivery was seen trading down by
0.26% at Rs.30601 per 10 grams as of 10.14 IST on Thursday. India
Ministry of Statistics is also scheduled to release its index on Indian
Consumer Index, Indian Industrial Production, India Manufacturing Output
at 17.30 IST on Thursday.
GOLD:
Trend updated for-Sep/12/2013.CMP-30682 The Gold is in
long- medium- term bull phase .Currently Gold is in strong downtrend with good
momentum and the trend is supported with good volume The open interest is not
increasing with trend . In last few days volume based selling happened in the
Gold. The Gold is now trading in overbought level. The Gold is now trading in
overbought level. The oscillator is showing SELL signal For short term Gold is
in SELL position.Positionally Support for the Gold is
29599-28538-28112-Resistance for the Gold is 31951-32332-32644-
SILVER:
Trend updated for-Sep/12/2013.CMP-52439 The Silver is in
long- medium- term bull phase .Currently Silver is in strong downtrend with
good momentum but volume is unsatisfactory The open interest is not increasing
with trend . In last few days volume based selling happened in the Silver. The
Silver is now trading in overbought level. The Silver is now trading in
overbought level. The oscillator is showing SELL signal For short term Silver
is in SELL position.Positionally Support for the Silver is
47085-45033-44619-.Resistance for the Silver is 53164-54407-54762-
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