Gold Trend! 18-11-2011
Technical:
Technical:
R2=1788.32
R1=1754.86
PP=1733.33
S1=1699.86
S2=1678.34
Buy gold above $1718 and next upside targets will $1726,$1733 and $1740 use stoploss at $1704.
Fundamental:
Gold prices traded steady on Friday, on course for their biggest weekly fall in nearly two months, pressured by a firm dollar while investors stay nervous about the deepening euro zone debt crisis. Gold remains attractive as an investment for individuals as well as the official sector. Central bank net purchases of gold rose to 148.4 metric tons in the third quarter, from 22.6 metric tons a year earlier, said the World Gold Council.
Gold prices traded steady on Friday, on course for their biggest weekly fall in nearly two months, pressured by a firm dollar while investors stay nervous about the deepening euro zone debt crisis. Gold remains attractive as an investment for individuals as well as the official sector. Central bank net purchases of gold rose to 148.4 metric tons in the third quarter, from 22.6 metric tons a year earlier, said the World Gold Council.
Regards
M.Zohaib Gadit
Forex Trading Consultant
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