Tuesday, May 29, 2012
Gold Silver Support and Resistance Levels
Gold (June) – Trend for Gold June is consolidate. Resistance levels are R2 – 29300, R1 – 29100, Sup1 – 28600, Sup2 – 28400. Strategy for gold june is to sell on higher levels.
Silver (July) - Trend for Silver July is Consolidate and Resistance levels are R2 – 56000, R1 – 55200, Sup1 – 53000, Sup2 – 52200. Stragey for Silver July is to sell on higher levels.
Gold prices rised third day in a row to Rs 29,650/10gms due to firm local demans in bullion market on the other hand Silver lacked support for buying and shed 54,750/kg. Experts believes that sustained buying by investors results in the rise in gold prices. Gold of 99.9 and 99.5 percent purity strengthened to 29,650 and 29,510/10gms. Gold has gained Rs. 265 in last two sessions.
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