Gold Updates : 3PM

On Comex Gold Prices are trading lower at $1618.4, down by -15.1 dollars. Strong support is seen at $1614 levels. Break below $1614 would lead the prices to see correction until $1608/1603 levels. If prices sustains above $1614 it is likely to resume its uptrend for intraday.

Gold Aug MCX trading range would be 29730-29870 levels with Negative Bias,

29790 will be Support Level for this hour..CMP 29820

Our Morning Gold Sell Call

07-06-12 10:24 Sell Gold@ 29970 T1:29910 T2:29880,T3:29795, SL above:30205 SecondSell : 30145 -www.Commodity20.com

 

 

 

Gold  Update 4 PM :

Price have broken support levels  of 27790, next major intraday support  levels is seen around 29700-680 levels break below the same might change intraday view. Otherwise price might rise gradually and possible higher side targets are seen at 29872/945 levels. Overall expected range for next trading hour is 29765-29845 

Our Gold Call,All Targets ware Achieved.

07-06-12 04:04 Book Profit in Gold,All Targets are Achieved,Sold @ 29970,Low Made:29783, 

Profit: 17700+per lot – www.Commodity20.com

Gold Update at 5 PM:

As Said in 4 PM update price rise gradually and made an High of 29930 as Expected..

Prices made intraday low of 29783 levels and recovered the losses made during intraday. We expect prices to resume its uptrend as long as 29780 levels support is provided. Upside potential is seen till 29950/30040. Those who are holding long position can maintain stop loss below 29780. Gold Comex prices are at 1624.4 levels. Sustained trades above 1627 may lead the prices to more upside trend..

Gold  Update 6 PM: Gold prices are trading below support level of 29800. But still it’s holding a support level of 29700-680 and $1608-1610 at COMEX platform. Break below the same might change intraday view.

Free Recommendation (HIGH RISK):

Gold Mini Aug, Buy 1st lot in the range of 29740-760 and 2nd Lot in the range of 29640-680,Target 1:29840,Target 2:29940  stop loss below 29540…CMP29760 @07.06.12,06:23PM,

Update : Gold Mini Call,As Market is very Volatile, Intraday Traders Recommended to Exit this Free Call , Cmp:29650, or Only High Risk Traders Can hold positions with Revised SL below : 29150 as a Positional Call (4 days).@07.06.12,07:40PM,

Update2 : The  High Risk Positional Traders Can add one more mini lot at cmp:29220-260 with Revised SL below : 28990 as a Positional Call

(4 days).@07.06.12,09:20PM,

FED’S STATEMENT -STUMULUS PACKAGE IS CERTAINLY LIKELY TO CREATE VOLATILITY IN THE MARKET. THIS HAS BEEN A CLUE TO THE MARKET..

STAY CAUTIOUS: MARKET IS TAKING CLUES FROM FED’S STATEMENT. MAINTAIN STOP LOSS..

Gold  Update 8:30 PM

Gold Aug Comex: Prices are at 1598, down by -35 dollars (-2.17%). Supports are seen at 1592/1585. Resistances: 1604/1612. CMP 1598

Gold Aug MCX: Supports: 29430/29290 Resistances: 29570/29710. CMP 29590

Gold update 9PM:

Prices have breached the earlier mentioned support levels and currently hovering at $1583 levels. Next support levels are seen at $1574 levels. Sustain above $1574 it is possible to recover some of its intraday losses. Resistances: 1587/1595.

Gold Aug MCX trading range would be 29030-29470 levels. CMP 29274

Gold update 11PM: Sustained trades below $1595 would lead the prices to retest $1579 levels. Prices are at $1589 levels and likely to see some dips. Gold Aug MCX trading range expected to be 29200-29430 with downside bias.  At Comex platform if the prices sustains above $1573 it might possible to see some upside gains, whereas at MCX platform 29000 would be the crucial support level to watch for

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