MCXINDIA/NCDEXINDIA TIPS 10 june/gold trend today, silver trend today 10 june 2011
Gold Trend!
10-June-2011
Gold set for fourth weekly advance on Europe debt crisis. Greece concerns and slow economic growth spur demand for the precious metal as an alternate investment. Gold is trading between $1532 and $1550; internationally many investors are waiting for it to drop below $1532 next week. Technically buy gold above $1540 and use stop loss of $1532, gold may trade down towards $1518 to $1505.
Crude Oil Trend!
10-June-2011
Oil traded near the highest this month in New York, heading for the biggest weekly gain in four weeks, after the U.S. trade deficit unexpectedly narrowed and OPEC’s secretary-general said the group’s production quota system has been weakened. Technically Crude Oil above $100 will remain positive and target will be $103.10.
Silver Trend!
10-June-2011
Silver and other precious metals climbed as the European Central Bank kept interest rates unchanged. Technically, silver remains strong above $37.00 and the target will be 38.500; use stop loss of $36.900.
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