Gold Update 4 PM :

Gold prices are currently trading at 29325 levels margianlly up by 0.03%, Gold prices have recovered intraday loss but unable to sustained and it may continue negative direction, prices have immediate resistance of 29370 and 29430 While lower side prices have support of 29300 once breaches this levels it may touch 29260 levels.

High Risk traders of Yesterday’s Positional Gold mini Buy Call Given @ 29220,Can Book Profit of 200 Points in One Lot at cmp: 29420,High made:29455, Add this lot again on Deep Around 29150-220.@ 08.06.12, 04:16 PM

Gold Update 6 PM : A stiff resistance is seen at 1586 levels, which is likely to limit the gains. Trading range expected to be 1572-1586. CMP 1581. Gold Aug MCX prices are likely to trade lower as long as 29470-29510 resistances remains intact. CMP 29410

Gold Update 7 PM: Prices are likely to move in the band of 1572-1585 levels. Either side breakout would clear the direction. Cmp 1578. Gold Aug MCX prices are expected to move in the range of 29290-29470 with negative bias. Cmp 29382. Those who are holding short position can keep stop loss above 29501.

Gold Update 8 PM: We have witnessed a range bound movement in gold hourly chart within the band of $1573-1585 in the last hour and likely to continue the same trend for this hour. Only a break above $1585 may take the prices higher till $1593 levels. Gold aug mcx prices are expected to move in the range of 29320-29470. CMP 29380. CMP 1581

Gold Update 10 PM : Trading range expected to be 1581-1592. Either side breakout would confirm the trend. CMP 1587.4. Gold aug mcx prices are likely to trade higher as long as 29400 support holds. Resistances : 29529/29590 lervels. CMp 29490

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