GOLD UPDATES FOR FEB 28 2016

SUNDAY



WEEKLY UPDATE



Gold in international market last week moved from 1210$ to 1250$ and dropped back to



close at 1222$,very strong resistance for the commodity is now at 1230$ and 1240$



supports at 1210$, trend for the commodity remains bearish for short term ,



any rise is an opportunity to go short with SL above 1243$ for target 1200 and 1190 levels.




Important note :



Fiscal Budget for 16-17 presentation on Monday



and any news about Import duty charges (increase or Decrease) may impact the metal in INR



Weekly Call :



Sell Gold international on rises between 1225 – 1230



with SL above 1243$



for target 1210,1200 and 1190.



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