- Gold futures for August delivery declined 1 percent
- Crude settle near 95$
- Silver futures for July delivery dropped below 19$
- Copper fell to the lowest in almost three years
Gold led declines by
commodities and the dollar strengthened for a sixth day as better-than expected
U.S. economic data supported the case for the Federal Reserve to pare monetary
stimulus. Gold fell to the lowest level since September 2010 as U.S. economic
data beat estimates, backing the case for reduced stimulus from the Federal Reserve
as the dollar strengthened. Silver sank to the cheapest since August 2010. U.S.
durable goods orders rose more than forecast in May, while consumer confidence
for June exceeded projections, data showed.
GOLD TREND
Trend updated for-Jun/26/2013.CMP-26559 Overall trend of
the Gold is bearish for medium-long term .Currently Gold is in strong downtrend
with good momentum but volume is unsatisfactory The open interest is not
increasing with trend .. 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 Immediate support for
Gold is 26406.Resistance for the Gold is 27100-27386-27471-27474-27634-27959-
Trend updated for-Jun/26/2013.CMP-40663 Overall trend of
the Silver is bearish for medium-long term .Currently Silver is in strong
downtrend and the trend is supported with good volume The open interest is not
increasing with trend .. The oscillator is showing SELL signal For short term
Silver is in SELL position.Positionally Immediate support for Silver is
40199.Resistance for the Silver is 42680-43014-43417-43911-45364-47662-
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