SUNDAY
WEEKLY UPDATE
Gold in international market last week dropped from 1200$ to test 1170$ and taken supports at
the said levels and closed at 1175$, prices were trading in the range between 1200$ to 1170$
for more than a month , weak global cues like Greece issue(Bailout Expires on Jun 30 and
Greece parliament is likely to vote on July 5th to say yes or No to continue with Eurozone)
may trigger bullions from current levels and may see a huge volatility unless the issue settles
down even the RBI governor Raghu Ram Rajan has warned that global economy may slip in to
Great Depression like 1930, so one should be more cautious about short positions in bullions.
Weekly Call :
Buy Gold between 1170 – 1175
with stops below 1160
for targets 1187 and 1198.
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