Past week Gold has been consolidating and loosing some sheen because of stronger rupee. October contract lost Rs 305 on weekly and Rs 149 on monthly basis. Hence long term investors need to stay invested and switch over to December contract at 31400-31500 on Monday. Past week Spain's budget boosted the Gold sentiment but side by side stronger rupee spoiled the party despite international gold prices remaining more or less range bound and finding resistance at 1785-1790$/ounce level. Next week may see these levels being toppled and see Gold in new highs.
For the uninitiated, investors may enter trade in December contract at the levels of 31350-31500.
Happy investing...
For the uninitiated, investors may enter trade in December contract at the levels of 31350-31500.
Happy investing...
No comments:
Post a Comment