SUNDAY
WEEKLY UPDATE
Gold in international market was trading in south wards direction for more than a month and last week prices corrected
and settled at 1170$, now the week ahead is very much crucial for bullions because Greece is going for REFERENDUM today either
to continue in EUROZONE or GRE EXIT, pre poll says YES and NO is almost equal, whole world is waiting for the outcome, if they
chose to exit from euro zone then there is an opportunity for the (break)split in euro zone between the members, even Greece
exit will cause a damage to EURO which will have a negative impact against Greenback(USA Dollar) (euro will become weak against
dollar) so further correction of Gold and base metals is expected and if Greece votes to stick to euro then euro will strengthen
and dollar will be weak then short term opportunity for gold to rise.
Weekly Gold Call :
Wait for Entries (Euro zone outcome) supports 1160$ and 1140$
resistance 1172$ and 1185$.
Or
Sell on rises near 1185-1190 with stops above 1205$
for targets 1160$ and 1150$.
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