Gold and Silver Weekly Technical Report 6 June to 11 June 2011

MARKET OVERVIEW
COMEX Gold is in an upward phase. Last week
COMEX Gold sustain above 1520$ and made a
close near to its week high. In the coming week
1475$ will act as a major support in COMEX Gold, if
COMEX Gold sustains above 1520 $ an ounce
then above 1550 $ an ounce it can touch the level of
1565$ an ounce and if COMEX Gold sustains
below 1500$ then it can slightly correct and test the
level of 1485$ an ounce 

STRATEGY
For the next week traders can use buy on lower level strategy if COMEX Gold sustains above 1520 $ an ounce, then above 1550$ it can test the level of 1565 $ an ounce and above 1575$ it can further move upward. Trade by keeping the strict stop losses.
         Major support for COMEX Gold in the coming week is 1500$ and 1460$.
         Major resistance for COMEX Gold in the coming week is 1580$ and 1625$
         Major support in MCX Gold is 22400 and 22200
         Major resistance in MCX Gold is 22850 and 23050
MARKET OVERVIEW
COMEX Silver is technically consolidating on
charts. Last week COMEX Silver was sustaining at
lower levels for most part of the week. For the
upcoming week 3480$ and 3250$ are the crucial
supports and 4000$ and 4250 $ are crucial
resistance in COMEX Silver. In MCX Silver 61000
and 64000 will act as major resistance and 52000
and 50000 will act as major supports. 

STRATEGY 

Technically COMEX Silver is bullish on charts and still in an upward channel, For the next week traders can use buy on
lower level strategy if Silver sustains above the level of 3600$ an ounce, then above 3900$ an ounce it can further go
upward and can test the level of 4000$ an ounce. Trade by keeping the proper stop losses.

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MCX Bullion Weekly Report 6 June To 11 June 2011 | MCX Tips

Fundamental Market Overview
GOLD GAINS ON SOFT US JOBS DATA, FALLING DOLLAR
Gold rose to near its highest in a month on Friday, boosted by a weak
U.S. labor report that illustrated the fragile state of the economic
recovery, likely keeping rates low and the dollar weak for awhile. Bullion
jumped, while stocks and oil fell, in the wake of data showing U.S.
employers hired 54,000 workers in May, far fewer workers than
expected, and the unemployment rate rose to 9.1 percent. Technical View and Strategy Click Here

NCDEX Agri Market Hot News | Analysis About Equity Fund

 Agri-commodities today
The prices of all major commodities ruled steady in the wholesale foodgrains market here today.
The following are the wholesale rates of various agri-commodities today (in rupees per quintal, except where stated otherwise): tur dal Rs 6,000, urad dal Rs 6,600, moong dal Rs 6,600, gram dal Rs 3,000, sugar Rs 2,700, wheat Rs 1,800, maida (90 kg) Rs 1,650 and sooji (90 kg) Rs 1,750.PTI TRK TRK.Click Here To Raed MORE
 Stock Cash Market Hot News
Diversified equity funds managed to perform better than the broader market in May, as exposure to sectors like capital goods and healthcare helped unit values.

Such funds, which form the largest category of equity funds by number and assets, fell 2.4 percent during the month, compared to a 3.3 percent fall in the BSE Sensex, data from Lipper, a Thomson Reuters company, showed.

Fears of further rate hikes, high inflation and worries about the euro zone debt crisis kept investors on the edge in May, as the benchmark fell for a second consecutive month.
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