Bullion Outlook 06.08.12
GOLD UPDATE :
Gold Dec Comex future prices have breached the resistance at $1701.6 and it is at $1703 levels. Intraday bias remains upside as long as 1690 support is provided. Upside potential would be seen until $1712/1720 levels. Gold Dec MCX future prices are likely to remain higher for intraday. Trading range would be 31970-32200 levels with upside bias. Buying would be advisible for intraday.
SILVER UPDATE :
Silver Dec Comex future prices are likely to remain higher for intraday as long as $3220 support is provided. Upside potential is seen until $3310 levels. Silver Dec MCX future prices are expected to move higher and the upside potential is seen until 63800 levels. Buying on dips would be ideal strategy for intraday. Key support level to watch is at 62600 levels, which is likely to hold upside view
