Last week saw a rise of 1145 on weekly basis and 361 on monthly basis on December contract.
Dollar is rising against Yen thereby we may see lesser prices in dollar terms but due to equal depreciation in rupee, rupee rate of gold may be somewhat static. Gold play is becoming a game of currency only. So we would suggest to cling on the trade.
A price of 32300 may be a good exit point on December contract for keen traders but investors may be looking for roll over to Feb 13 contract at the similar prices two or three days after the exit from Dec 12 contract.
Happy bullying...
Dollar is rising against Yen thereby we may see lesser prices in dollar terms but due to equal depreciation in rupee, rupee rate of gold may be somewhat static. Gold play is becoming a game of currency only. So we would suggest to cling on the trade.
A price of 32300 may be a good exit point on December contract for keen traders but investors may be looking for roll over to Feb 13 contract at the similar prices two or three days after the exit from Dec 12 contract.
Happy bullying...
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