Gold Trend! 15-08-2011
Technical:
R2=1790.22
R1=1767.81
PP=1745.49
S1=1723.08
S2=1700.76
Gold below $1755 will remain weak and can touch $1709 and $1676.
Fundamental:
Gold declined for a 3rd day, as concern eased that the global economy is stabling, boosting global equities and cutting demand for haven investment. The MSCI Asia Pacific Index rose after Japan's economy contracted less than estimated in the 2nd quarter. U.S. retails sales claimed the most in 4 months in July, while applications for jobless claims were the lowest since April. Gold prices remained under pressure as investors continued to shift back into equities at a measured pace.
By
M.Zohaib Gadit
Forex Trading Consultant, Shivani Financial
Address: Suite # 403, Portway Trade Centre, Main Sharah-e-Faisal
Opp. CDC Building, Near Nursery) Karachi,Pakistan.
Phone#: +9221-34328898-99
Cell: +92345-2259224
E-mail: zohaib.gadit@shivanifinancial.com
zohaibgadit@yahoo.com
Web Site: www.shivanifinancial.com
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