Gold Intraday Outlook

U.S. gold futures ended lower after trading in a tight range yesterday as bullion investors looked for a new catalyst from markets outside of the commodities sector to fuel the metal's recent rally amid inflation concerns. But down side was limited due to the dollar weakness. August futures did not fall further as the dollar hit a five-week low against major currencies after strong earnings from JP Morgan tarnished the U.S. currency's safe haven appeal.

But According to the report from U.S. Labour Department, jobless claims were down 47,000 last week to 522,000, the lowest since the first week of 2009. The big drop may have been distorted by unusual activity in the auto industry.

The Philadelphia Federal Reserve's regional index of manufacturing fell from -2.2 to -7.5 in July, weaker than expected.

On Wednesday, Gold rose to a two-week high above $940 an ounce as the dollar tumbled after data showed U.S. consumer prices rose faster than expected in June.

According to the U.S. Labour Department, consumer prices were up 0.7% in June, but down 1.4% from a year ago.

Weekly Outlook (DG. Aug.)

Expected trading range $903 – $920 .Breaking either side may clear the direction. Supports are $934, $948.Supports are $884 $864.

Last day DGCX Gold Aug Traded in the range $939.70-$932.90 and closed at $ 936.90

TECHNICAL OUTLOOK (Intra-day)

GOLD (Aug) - Bullish above $ 938 bearish below $932


MCXARUN
9994500540

safe trade calls!

GOLD

Now Uptrend expect with any close above 14825 & as long support of 14625. for the day buy only above 14825 S/L 14765 and T/p 14860/Close above 14825 seen towards 14950-975 atleast and close above 14975 seen towards 15250-15300 range in coming days OR buy ard 14632-40 S/L 14625 and T/p 14715-745-770, below 14625 Strict avoid Long (any time close above 14825-14975/15550/15960/16350 bullish while close below 14375/14100/13800 bearish for medium term)


SILVER


Continue to view expect more bounce back as long Support of 21700 & 21550. book profit on buy above 21500/21660, for the day buy only above 22000 S/L 21880 and T/p 22100-150/Close above 22000 seen towards 22250-22550 in coming days OR buy ard 21560-575 S/L 21550 and T/p 21700-21800 (any time close below 21100/20250 bearish rally while close above 22000/23000/24150/ 24725 bullish for medium term)


CRUDE


Now Xpect more bounce back on close above 3075 & as long Support of 3000. for the day buy only abv 3075 S/L 3045 and T/p 3110/Sustain above 3075 seen towards 3175-3250 in coming days OR sell only below 3000 S/L 3020 and T/p 2985-2945/Close below down Rally towards 2825 in coming days (now crude need to close above 3075/3230/ 3560 for bullish rally while close below 2945/2815/ 2650/2565/2400 bearish for medium term)


COPPER


for the day buy abv 257.75 & more above 258.30 S/L below 256 and T/p 261-62/Sustain Close abv 258.30 seen towards 271-274 Range atleast in coming days OR sell only below 253.25 S/L 254.30 and T/p 252.25-251.25/ 249.25 (upside strong rally only on close above 258.5 while close below 241.75/232/214.5 bearish for medium term)



MCXARUN
9994500540