Daily Commodity Report by www.epicresearch.co 22 August 2012
HEADLINE
Gold gains for sixth day on European stimulus outlook:
The gold rose 0.2 per cent to 1,640.35 dollar an ounce.
Prices reached 1,641.48 dollar yesterday, the highest
since May 7 and a sixth consecutive gain would be the
longest run since June 18. Silver also gained 0.9 per
cent to 29.56 dollar an ounce, the highest price since
June 7.
Oil prices drop after recent rally:
Crude oil prices fell Wednesday following recent gains,
Mirroring events across world stock markets, as traders
Showed caution ahead of Greek talks, Fed minutes and
US energy inventory data. Brent North Sea crude for
Delivery in October dropped 79 cents to stand at
113.85 a barrel in London midday trade compared
With Tuesday's closing level.
ANALYSIS
DAILY MCX GOLD CHART
OPEN: 30350
HIGH: 30440
LOW: 30285
CLOSE: 30317
GOLD LOOKS DOWNWARDS
TREND: BEARISH
STRATEGY: SELL ON RISE.
DAILY MCX SILVER CHART
OPEN: 55227
HIGH: 55568
LOW: 55115
CLOSE: 55309
SILVER LOOKS UPWARDS
TREND: BULLISH
STRATEGY: BUY ON DIPS
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