Gold and silver..

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Gold and silver..

Post  RaahiShah on Wed Jun 06, 2012 6:36 pm

GOLD (AUG) – The ECB is expected to indicate a readiness to cut interest rates as soon as next month but hold back from policy moves, after a Group of Seven emergency conference call on Tuesday failed to produce any concrete solution. Gold has held steady above $1,600 an ounce since it rallied 4.3 percent last Friday, as investors expect further monetary easing from the central banks, especially the U.S. Federal Reserve, after data showed a surprisingly weak job market. Resistance and support levels for the today’s session for Gold JUN contract which will expire IN JUNE 2012 are:

SUPPORT 1: 29880
SUPPORT 2: 29635
RESIST 1: 30160
RESIST 2: 30380

SILVER (JUL)– Strengthening dollar is actually suppressing the white precious metal since last few sessions. Silver is Expected resistance and support levels for today trade are as follows.

SUPPORT 1: 53320
SUPPORT 2: 52813
RESIST 1: 54535
RESIST 2: 55120

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