Gold Trend! 17-01-2012
Technical:
Buy gold above $1642, take profit in stages at $1650,$1658 and $1675 levels. If gold breaks $1635 selling is recommended downside targets will $1630,$1622 and $1614.
Fundamental:
Gold rose more than half a percent on tuesday, encouraged by revived risk appetite that lifted markets across the board, after China announced better than expected economic growth in the last quarter of 2011. Riskier assets, such as equities and base metals, firmed on China's economic data, which offered a glimpse of hope amid global growth prospects clouded by the euro zone debt crisis.
By
M.Zohaib Gadit
Forex Trading Consultant
Technical:
Buy gold above $1642, take profit in stages at $1650,$1658 and $1675 levels. If gold breaks $1635 selling is recommended downside targets will $1630,$1622 and $1614.
Fundamental:
Gold rose more than half a percent on tuesday, encouraged by revived risk appetite that lifted markets across the board, after China announced better than expected economic growth in the last quarter of 2011. Riskier assets, such as equities and base metals, firmed on China's economic data, which offered a glimpse of hope amid global growth prospects clouded by the euro zone debt crisis.
By
M.Zohaib Gadit
Forex Trading Consultant
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