Gold futures are seen trading sideways with a negative bias this week in the Indian markets, weighed by expectations of a stronger dollar overseas. Analysts said this would dim the yellow metal’s appeal as an alternative investment.
By Justice Litle
Abstract: To the degree that the gold price falls (and the dollar rises), we are witnessing a giant geopolitical chess game in progress.
Tarun Satsangi, AVP Research (Commodities), Bonanza Commodity Brokers stated his outlook for bullion segment.
TODAYS MARKET CALLS
US MARKET ARE CLOSED (PRESIDENT’S DAY).
SELL GOLD 16525,SL 16565, TGT 16405
TODAYS MARKET CALLS
US MARKET ARE CLOSED (PRESIDENT’S DAY).
SELL GOLD 16550, SL 16650, TGT 16400
TODAYS MARKET CALLS
US MARKET ARE CLOSED (PRESIDENT’S DAY).
As per financial astrology, 15th day of February is represented by Venus. Year 2010 is represented by Jupiter. Combination of Jupiter and Venus to create highest volatility in spot and futures markets.
MCX-TODAY TREND, SUPPORT & RESISTANCE (15TH FEB 2010)
Gold may trade around current levels this week. Support for prices is building at $1,050 – $1,060, but gold remains vulnerable to short-term selling. A price decline toward $1,020 or even $1,000 should not be ruled out.
WTI oil prices could move between $71 and $78. Prices inched above $75 last week as the U.S. dollar depreciated and winter storms across the Northeastern United States caused some bullish sentiment regarding heating demand.
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