23 Apr 2012

Gold trading in range

Gold Moving Between $1630- $1650 Levels.. Waiting for the outcome of Fed meet later this week on tuesday & wednesday..
The Fed's attitude towards monetary easing has been a key factor behind the fluctuation of gold prices in recent month.
If the Fed drops any hint on more monetary easing at the meeting Tuesday and Wednesday, gold prices will jump quickly Or else below $1600 can be seen in this week itself..
Support and Resistance Levels for 23/04/2012  
Commodity S1 S2 S3 R1 R2 R3
             
GOLD JUNE 28500 28350 28220 28800 28880 28970
             
SILVER MAY 55500 54800 54200 56900 57200 58000
             
CRUDE MAY 5350 5290 5210 5470 5520 5590
             
COPPER 418 414 408 429 433 437.5
             
NICKEL 918 907 895 940 964 977
             
LEAD 108.5 107 105.5 111 112.2 113.7
             
ZINC 103 102 100.9 105.8 107.1 108.4
             
ALUMINIUM 105.4 104.7 103.5 107 108.5 111