Bullion Update

Bullion Update, Precious Metals Trading and Market Outlook: Nirmal Bang

goldU. S. gold futures ended lower on Thursday as a rising dollar prompted bullion investors to lock in profits, erasing initial gains based on inflation worries stoked by quantitative easing measures by central banks.

Silver future lost more than gold on COMEX as it pared 1.36 percent against 0.15 percent fall in Gold. The fall on MCX was less severe as the weakness in rupee capped the downside in precious metals.

The Bank of England stunned investors by boosting its bond buying program, also called quantitative easing, to 175 billion pounds ($297 billion) from 125 billion, beyond a previous limit of 150 billion pounds.

Expert Analysis for Gold and Silver Futures Trading

gold-barsGold futures rose above $970 an ounce on Tuesday, scaling a two-month high on the back of dollar weakness and growing investor risk appetite, but settled slightly lower at $968.4 an ounce on COMEX.

Silver future outperformed gold in terms of percentage rise. It rose by 2.15 and 2.24 percent on MCX and COMEX respectively.

The world's largest gold-backed exchange-traded fund, the SPDR Gold Trust, said holdings stood at 1,072.87 tonnes as of Aug. 4, unchanged from the previous business day.

Bullion Update and Market Outlook: Nirmal Bang

goldGold: Gold prices traded negative yesterday closing just below the 7 and 21 DMA. Therefore the prices may trade slighter weaker today, however strong support can come in at 14625. The RSI turned down yesterday with downwards movement in prices, but is expected to take support again at the trend line. Thus one can buy gold at dips with support at 14625, targeting 14850-900 in near term.

Bullion Update, Precious Metals Trading and Market Outlook: Nirmal Bang

goldGold futures rose to seven-week high on COMEX on Monday as a weaker dollar, better physical demand and fresh buying from commodity funds boosted investors' appetite for hard assets amid a Wall Street rally.

Silver future outperformed gold in terms of percentage rise. It rose by 1.27 and 2.04 percent on MCX and COMEX respectively.

Net official sector gold sales in 2009 may drop to their lowest level since 1994, after sales in the first half of the year fell 73 percent from a year earlier, metals consultancy GFMS said in a report on Monday.

Bullion Update, Precious Metals Trading and Market Outlook: Nirmal Bang

GoldGold Prices have taken support at the 14625 levels and moved up yesterday, closing up at 14710. The RSI also have turned up from the support line, thus the negative sentiments in gold seem to have turned positive. Therefore one can remain long in Gold above 14625 Levels targeting 14850 levels.

Silver Prices have turned around from the downfall rising above 22000 and closed higher at 22153. The RSI also have picked up above the MA. Therefore prices are expected to remain positive above 22000 targeting 22400 on the upside and next 22650.

Expert Analysis for Gold and Silver Futures Trading

goldGold climbed to a high of $938an ounce and settled at $936 an ounce on COMEX on Thursday, tracking hefty gains in oil, as a string of solid corporate earnings reports boosted Wall Street equities as well as interest in higher risk assets.

Silver future outperformed gold in terms of percentage rise. It rose by 1.25 and 1.69 percent on MCX and COMEX respectively.

Overall demand in India remains weak. The country's gold imports have reached a provisional 8-10 tonnes in July so far, well below the 24 tonnes recorded last June, the Bombay Bullion Association said.

Bullion Update, Precious Metals Trading and Market Outlook: Nirmal Bang

GoldGold Prices continue to fall after stepping down the 14800 levels. The Prices are however taking support at the 14625 levels, the earlier resistance level. The RSI is also taking support at the support line. Thus on breaching this level of 14625 the counter is expected to further fall to 14400 in near term.

Silver Prices continued the downfall yesterday breaching both the support at 22000 and 21800 and closed lower below the 21 DMA at 21879. Therefore the near term trend looks weak. The RSI also is seen crossing the MA on downside, which is negative for the counter. Thus the prices are expected to test the 21500-400 levels today.

Expert Analysis for Gold and Silver Futures Trading

goldGold fell to a two-week low on Wednesday as rising risk aversion boosted the dollar on the second day of gloomy U. S. economic news which prompted sell off in precious metals.

Silver future lost more severely than gold. It declined by 2.31 and 3.46 percent on MCX and COMEX respectively.

The IMF has provisionally agreed to sell the gold to raise resources for increased lending to poor countries. A final decision by all 186 IMF member countries on the sales is expected at IMF meetings in Istanbul in October and requires the support of 85 percent of the membership.

Bullion Update, Precious Metals Trading and Market Outlook: Nirmal Bang

Bullion Update, Precious Metals Trading and Market Outlook: Nirmal BangGold Prices sharply declined yesterday after breaching the 7 DMA of 14886. Gold closed lower at 14755, taking support from the 21 DMA of 14708. Today prices may maintain above 14708, but breaching 14708 prices may further fall lower to 14600-640 levels.

Expert Analysis for Gold and Silver Futures Trading

Expert Analysis for Gold and Silver Futures TradingPrecious metals lost the ground gained in the previous sessions following a 2 percent slide in oil prices and 1 percent loss in U.S. equity indexes, as investors grabbed profits when a weak U.S. confidence reading suggested consumer demand would languish for some time to come.

Gold and Silver futures lost 1.49 and 1.59 percent respectively on COMEX. The loss was less severe on MCX as the prices got support from the weak rupee.

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Bullion Update and Market Outlook: Nirmal Bang

goldGold Prices remained positive yesterday closing above the 7 DMA of 14900. The RSI is seen taking support at the earlier resistance, while ADX still indicate strength in the uptrend. Thus prices may test 15100-150 levels in near run, if prices maintain above 14800 levels.

Silver Prices are maintaining above the trend line and steadily moving up. The RSI and MACD also are rising after the positive break-out. Thus the counter looks strong above 22400 levels, targeting 23200 levels in near term. Therefore one can remain long in Silver above 22400.

Bullion Update, Precious Metals Trading and Market Outlook: Nirmal Bang

GoldGold futures slid in the early trades on the release of robust new home sales numbers which made gold losing its safe-haven appeal. But it regained the lost ground on the back of slide in the dollar and added support from the rise in crude oil prices.

Silver futures outperformed gold on MCX as well as on COMEX. The rise in base metals prices provided added support to Silver.

Sales of new single-family homes in the United States rose by 11 percent in June from the previous month, exceeding expectations, while the inventory of homes for sale fell to an 11-year low, government data showed on Monday.

Bullion Update, Precious Metals Trading and Market Outlook: Nirmal Bang

GoldGold prices traded range bound taking support at the previous low of 14865 and closed above the 7 DMA of 14874. The RSI and ADX still continue to look positive. Thus the prices are expected now to take support at the 14800 levels and move upwards. Prices can move lower on breaching the 14800 levels.

Expert Analysis for Gold and Silver Futures Trading

gold_barsGold futures ended slightly lower but held above $950 an ounce on Friday as investors took profits, but inflation concerns amid economic optimism may continue to stir investment demand. MCX gold settled marginally up on MCX on Saturday.

Silver futures rose in line with the expectation of better investment demand. It witnessed an increase of 0.76 and 0.13 percent on MCX and COMEX respectively.

Bullion Update, Precious Metals Trading and Market Outlook: Nirmal Bang

Bullion Update, Precious Metals Trading and Market Outlook: Nirmal BangGold Prices closed lower yesterday at 14920, however did not breach the trend line. The RSI is still increasing with positive ADX. Thus the trend remains intact upwards above 14880 levels. Therefore one can remain long in Gold above 14880.

Silver Prices traded upwards range bound forming a Doji, closing near its open. The RSI is rising with positive crossover in MACD. The Prices closing above 22400 is a positive sign. Thus the trend is upwards, prices can take support on downside at 22171 (7 DMA), targeting 22500-700 on upside.

Expert Analysis for Gold and Silver Futures Trading

Expert Analysis for Gold and Silver Futures TradingGold prices inched up on COMEX on Friday but were off a six-week high hit the previous day, with investors eyeing the dollar and stocks for direction as growing recovery hopes fuel inflation concerns and boost bullion's hedge appeal. Gold prices could not hold the previous levels on MCX owing to the rise in rupee against the dollar.

Silver futures rose in line with gold. It witnessed an increase of 0.19 and 0.12 percent on MCX and COMEX respectively.

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Bullion Update, Precious Metals Trading and Market Outlook: Nirmal Bang

Gold and Silver Futures, Commodity Market Outlook: Nirmal BangGold Prices have breached the 14900 levels yesterday and closed above the same at 14939, which shows strength in the counter. In addition the RSI is rising sharply above the resistance and ADX is indicating strength in the uptrend. Thus on can remain buy in Gold above 14800, targeting 15150-200 in near term.

Expert Analysis for Gold and Silver Futures Trading

Expert Analysis for Gold and Silver Futures TradingGold futures climbed above $950 an ounce on COMEX on Wednesday on lingering economic worries, but the U.S. Federal Reserve's strong resolve to fight inflation could still pressure the metal in the near term. It inched up by 0.47 percent on MCX.

Silver futures outperformed gold by a good margin. It witnessed a rise of 0.96 and 1.66 percent on MCX and COMEX respectively.

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Bullion Update and Market Outlook: Nirmal Bang

Gold futuresGold Prices traded range bound yesterday and closed near the open forming a DOJI. Thus the trend form here remains indecisive. However looking at RSI above 65 and rising ADX, the trend can be upside provided prices maintain above 14830 levels. Thus one can remain long above 14830, subject to breaching this levels prices can fall back to 14750.

Bullion Update, Precious Metals Trading and Market Outlook: Nirmal Bang

Bullion Update, Precious Metals Trading and Market Outlook: Nirmal BangGold Prices have been trading in the range of 14630 and 14800 levels for the last 4 trading days. Positive crossed over in RSI and MA with positive +DI and ADX trending higher expect the prices to remain higher levels. Closing above 14820 levels can give upside trigger in the counter till 14900-14920 levels in the short run.

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