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MCX-TODAY TREND, SUPPORT & RESISTANCE (12TH FEB 2010)

The World Gold Council (WGC) has published ‘Gold for Good: Gold and nanotechnology in the age of innovation’, a research paper detailing new scientific and technological innovations using gold. The report, which was produced in conjunction with Cientifica Ltd, the world’s leading source of global business and investor intelligence about nanotechnologies, demonstrates how gold nanoparticles offer the potential to overcome many of the serious issues facing mankind over the coming decades.

Crude Oil is near to Rs.3500 a barrel in MCX after the dollar strengthened on speculation that the European Union will fail to take sufficient measures to help Greece tackle its fiscal deficit, dampening the investment appeal of commodities.

Gold accelerated to a near one-week high at Rs. 16515 per 10gm as investors bought the metal as safe haven buying, largely shrugging off the impact of a strengthening dollar.

By Andrew Mickey
The correction in gold prices has clearly unnerved many of the newly-minted gold bugs.
The simple fact gold is not going up $20 a day has sent the “hot money” running for the exits.

Gold Prices will climb to $5,000 within two years due to US dollar weakness and significant buying by players in the hedge fund industry looking to preserve the value of their funds.

H! Friends,

GREETINGS of M*A*H*A*S*H*I*V*A*R*A*T*R*I