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

safe trade calls!

GOLD

Still as long Resistance of 14700 more down side expected. for the day sell below 14580 S/L 14610 and T/p 14550-14500/14440-410-14375/Sustain close below 14375 seen towards 14225-14150 in coming days OR buy only above 14725 S/L 14650 and T/p 14790-825/ towards 14975 in coming days (any time close above 14825-14975/15550/ 15960/16350 bullish while close below 14375/14100/13800 bearish for medium term)


SILVER

Now expect more bounce back with any close above 21650. book profit on buy above 21500, for the day buy only above 21660 S/L 21580 and T/p 21800-21950 OR sell only below 21450 S/L 21520 and T/p 21375/300, only below 21100 now down trend again (any time close below 21100/20250 bearish rally while close above 22025/23000/24150/24725 bullish for medium term)


CRUDE


Crude oil Weekly Inventory Schedule to release today. Now Expect bounce back only with close above 3000 towards 3050/3115/3180 in coming days. for the day sell below 2900 S/L 2920 and T/p 2880-2850/towards 2800 OR sell ard 2980-85 S/L 2990 and T/p 2960-2945 (now crude need to close above 3165/3510 for bullish rally while close below 2880/2800/2600 bearish for medium term)


COPPER


for the day buy only abv 249 S/L 248 and T/p 250-251.25/Close abv 251.25 seen towards 253.5/257 in coming days OR sell below 247 S/L 248.5 and T/p 245/242.5 (upside strong rally only on close above 251.25/258.5 while close below 238.75/232/214.5 bearish for medium term)



MCXARUN
9994500540

safe trade calls

GOLD

Continue to view as long Resistance of 14625 & 14675 more down side expected. for the day sell below 14550 S/L 14585 and T/p 14490-14440-410-14375/Sustain close below 14375 seen towards 14225-14150 in coming days OR sell ard 14730-740 S/L 14750 and T/p 14680-14625, above 14750 avoid short sell (any time close above 14825-14975/ 15550/15960/16350 bullish while close below 14375/14100/13800 bearish for medium term)


SILVER


PRICE TURN EXACT FROM OUR GIVEN LEVEL BOTH SIDES AS OUR S1-21100 & DAYS LOW=21103 AND OUR R1-21450 & SEE PRICE TURN FROM DAYS HIGH=21446. for the day buy only above 21500 S/L 21400 and T/p 21600/21800 atleast OR buy ard 21140-150 S/L 21100 and T/p 21260-21350, only below 21100 now down trend again (any time close below 21100/20250 bearish rally while close above 22025/23000/24150/24725 bullish for medium term)


CRUDE


PRICE TURN EXACT FROM OUR GIVEN RESISTANCE=2980 AS DAYS HIGH ALSO 2980. Now Expect bounce back only with close above 2980 towards 3050/3115/3180 in coming days. for the day sell below 2905 S/L 2925 and T/p 2880/2850 towards 2810 OR buy only abv 2980 S/L 2960 and T/p 3010/3050 (now crude need to close above 3165/3510 for bullish rally while close below 2880/2800/2600 bearish for medium term)


COPPER


Continue to view as long Resistance of 243 & 246.5 down trend seen continue. for the day sell below 239 S/L 240.3 and T/p 238-236.5-234.75/232/Close below seen new down rally OR sell ard 246.1-246.3 S/L 246.5 and T/p 244-242. above 246.5 avoid short sell (upside strong rally only on close above 246.5/251.25/ 258.5 while close below 232/ 214.5 bearish for medium term)



MCXARUN
9994500540

safe trade calls

GOLD


Continue to view as long Resistance of 14625 & 14675 more down side expected. we book profit on sell below 14520/14480, fresh sell below 14430 S/L 14465 and T/p 14410-14375/ Sustain close below 14375 seen towards 14225-14150 in coming days OR sell ard 14660-670 S/L 14675 and T/p 14590-530, above 14675 avoid short sell (any time close above 14825-14975/ 15550/15960/16350 bullish while close below 14375/14100/13800 bearish for medium term)


SILVER

Continue to view as long Resistance of 21800 & 21900 down trend seen continue. for the day sell below 21425 S/L 21480 and T/p 21370-325/Sustain below 21325 seen towards 21100-20900 in coming days OR sell ard 21870-880 S/L 21900 and T/p 21800-21700, abv 21900 avoid short sell (any time close below 21325/20825/20250 bearish rally while close above 22025/23000/24150/ 24725 bullish for medium term)


CRUDE


THIS WAS OUR VIEW IN REPORT Dt. 17-6-2009 "Sustain close below 3375 expect price towards 3240-3150-3060 in coming days" AND THIS WAS IN REPORT Dt. 8-7-2009 "Sustain close below 3050 seen towards 2900" & SEE YESTERDAY LOW=2911 ALMOST ACHIEVEDDD. Continue to view as long Resistance of 2980 & 3010 down trend seen continue. book profit on sell below 2975, for the day sell only below 2925 S/L 2950 and T/p 2900-2875 OR sell ard 3000-3005 S/L 3010 and T/p 2980-2960 (now crude need to close above 3165/3510 for bullish rally while close below 2900/2800/2600 bearish for medium term)



COPPER


Continue to view as long Resistance of 243 down trend seen continue. for the day sell below 239.75 S/L 241 and T/p 238-236.5-234.75/232/Close below seen new down rally OR sell ard 246.1-246.3 S/L 246.5 and T/p 244-242 (upside strong rally only on close above 246.5/ 251.25/258.5 while close below 232/ 214.5 bearish for medium term)



MCXARUN
9994500540

safe trade calls

GOLD


Continue to view as long Resistance of 14625 & 14675 more down side expected. we book profit on sell below 14520/14480, fresh sell below 14430 S/L 14465 and T/p 14410-14375/ Sustain close below 14375 seen towards 14225-14150 in coming days OR sell ard 14660-670 S/L 14675 and T/p 14590-530, above 14675 avoid short sell (any time close above 14825-14975/ 15550/15960/16350 bullish while close below 14375/14100/13800 bearish for medium term)


SILVER

Continue to view as long Resistance of 21800 & 21900 down trend seen continue. for the day sell below 21425 S/L 21480 and T/p 21370-325/Sustain below 21325 seen towards 21100-20900 in coming days OR sell ard 21870-880 S/L 21900 and T/p 21800-21700, abv 21900 avoid short sell (any time close below 21325/20825/20250 bearish rally while close above 22025/23000/24150/ 24725 bullish for medium term)


CRUDE


THIS WAS OUR VIEW IN REPORT Dt. 17-6-2009 "Sustain close below 3375 expect price towards 3240-3150-3060 in coming days" AND THIS WAS IN REPORT Dt. 8-7-2009 "Sustain close below 3050 seen towards 2900" & SEE YESTERDAY LOW=2911 ALMOST ACHIEVEDDD. Continue to view as long Resistance of 2980 & 3010 down trend seen continue. book profit on sell below 2975, for the day sell only below 2925 S/L 2950 and T/p 2900-2875 OR sell ard 3000-3005 S/L 3010 and T/p 2980-2960 (now crude need to close above 3165/3510 for bullish rally while close below 2900/2800/2600 bearish for medium term)



COPPER


Continue to view as long Resistance of 243 down trend seen continue. for the day sell below 239.75 S/L 241 and T/p 238-236.5-234.75/232/Close below seen new down rally OR sell ard 246.1-246.3 S/L 246.5 and T/p 244-242 (upside strong rally only on close above 246.5/ 251.25/258.5 while close below 232/ 214.5 bearish for medium term)



MCXARUN
9994500540

safe trade calls

GOLD

Continue to view as long Resistance of 14625 & 14675 more down side expected. we book profit on sell below 14520, fresh sell below 14480 S/L 14515 and T/p 14455-14410-14375/ Sustain below seen towards 14225-14150 in coming days OR sell ard 14660-670 S/L 14675 and T/p 14590-530, above 14675 avoid short sell (any time close above 14825-14975/15550/ 15960/16350 bullish while close below 14375/14100/13800 bearish for medium term)


SILVER

Continue to view as long Resistance of 21800 & 21975 down trend seen continue. for the day sell only below 21450 S/L 21560 and T/p 21300/Sustain close below 21450 seen towards 21100-20900 in coming days OR sell ard 21780-800 S/L 21810 and T/p 21700-21600 (any time close below 21450/ 20825/20250 bearish rally while close above 23000/24150/24725 bullish for medium term)


CRUDE


THIS WAS OUR VIEW IN REPORT Dt. 17-6-2009 "Sustain close below 3375 expect price towards 3240-3150-3060 in coming days" & SEE YESTERDAY LOW=2976 ACHIEVEDDD. Continue to view as long Resistance of 3040 & 3085 down trend seen continue. for the day sell below 2975 S/L 2995 and T/p 2950/ towards 2900 in coming days OR sell ard 3075-80 S/L 3085 and T/p 3040-3020 (now crude need to close above 3165/3510 for bullish rally while close below 2900/2800/2600 bearish for medium term)


COPPER


THIS WAS OUR VIEW IN REPORT Dt. 7-7-09 "Still as long Resistance of 244 & 246.5 more down side expected" & SEE PRICE TURN FROM HIGH EXACT=246.5 ON SAME DAY AND NOW FALL TOWARDS LOW= 234.7 YESTERDAY. Continue to view as long Resistance of 240 & 243 down trend seen continue. for the day sell below 238 S/L 239.5 and T/p 237-26-234.75/232/Close below seen new down rally OR sell ard 241-241.3 S/L 241.5 and T/p 239.75-238 (upside strong rally only on close above 246.5/251.25/258.5 while close below 232/214.5 bearish for medium term)


MCXARUN
9994500540