BSH: GOLD Outlook: As of Tuesday morning, we are seeing fresh decline of over 1% in Gold commodity though locally may not see such huge fall as Rupee has depreciated afresh in early morning session. We believe, Bullion are losing weight before the Fed’s two-day policy meeting to assess the timing of interest-rate increases amid slumping energy prices and signs of an improving economy. Into the international markets, if the Comex gold falls below $1188, then locally we might see a huge drop. Hence, we suggest selling the precious metal from higher levels at the local market while globally slight upticks would make a fresh selling opportunity in the bullion complex today..Technical: Gold one can start selling below 1200 or wait/add at 1204-05 levels for downside tgt 1188/1175 .., Overall trend remains weak...we advise sell on rise..thnx and happy trading
Posted on: Tue, 16 Dec 2014 05:21:35 +0000
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