Gold and Silver could see another bear market rally

There are no major US economic data releases today or tomorrow. It will be a technical trade with demand from India and China as the key factors. Traders will start to take positions for next week's Federal reserve meeting. Next week’s FOMC meeting is the last meeting for outgoing Federal reserve president Ben Bernanke. Once again the US growth outlook and the US interest rate outlook will be the key.

Key factors which can cause furor in gold and silver markets are (a) FOMC meet (b) Chinese demand in the Chinese New Year of Horse (c) January US nonfarm payrolls.

Precious Metals Turned Red

Silver after making intraday high of INR 45,600/- slipped to low of  44,805/- (CMP- INR 44,900/-) day trader should avoid this risky trading session or make entry with strict entry & exit levels by following proposed stoploss

Gold Sinks Below $1,200

The price of gold slumped below $1,200 an ounce Thursday, a day after the Federal Reserve said it would pull back on its stimulus program.

Gold went as high as $1,900 an ounce in August 2011 partly because traders feared that the Fed’s efforts to support the U.S. economy with easy money policies would cause inflation. That never happened.

The price of silver also fell sharply. The March contract fell 87.3 cents, or 4.4 percent, to $19.186 an ounce.

High-grade copper for March delivery fell 2 cents, or 0.7 percent, to $3.2955 a pound. March palladium fell $3.15, or 0.5 percent, to $693.30 an ounce and January platinum fell $24.30, or 1.8 percent, to $1,318.40 an ounce.

In other trading, crude oil rose 97 cents, or 1 percent, to $98.77 a barrel.

Wholesale gasoline futures rose 4 cents to $2.74 a gallon and heating rose 2 cents to $3.03 a gallon. Natural gas rose 21 cents to $4.46 per 1,000 cubic feet.

Precious Metal

QE3 tapering impact is now showing in market as all metals whether precious or semi precious are turned red which will last for another few days

Gold Update

• Gold is weak fundamentally but recent hike in import duty is inviting gold smuggling soon we will see unidirectional trend in Gold

Gold to trade down

Gold is certainly set to test the levels of 25000/- INR in near future

Disclaimer

Gold to trade down

Gold is certainly set to test the levels of 25000/- INR in near future

Disclaimer

Metal Update

Gold is hovering around 28,000/- from last few days So, you might find uni-directional trend in Gold. Sell on rise is the policy which is to be adopted for Long term investment plan.

Disclaimer at