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Shivani Financial GBP/USD short term bottom seems 5478-5383 and top 6210-42. Shivani Financial EUR/USD short term bottom seems 2580-2618 and top 3510. Shivani Financial USD seems to weaken this quarter with GBP target of 6330 and EUR of 3250 if talks of QE3 takes place and euro area resolution policies implemented without new story. Shivani FinancialGold has taken correction according to our forecast for it to go 1850 by August end.

Friday, August 12, 2011

Gold declined in London

Gold declined in London as some investors sold the metal after debt and slowdown speculation boosted prices to a record.

Bullion is down 3.6 percent from the record $1,814.95 yesterday after CME Group Inc. raised margins on futures traded in New York. Gains in equities also curbed demand for gold as an alternative asset. The Stoxx Europe 600 Index rallied from a two-year low, climbing 1.9 percent, and the Standard & Poor’s 500 Index yesterday gained 4.6 percent.

By
M.Zohaib Gadit
Forex Trading Consultant, Shivani Financial

 

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