Global growth scenario darkening erasing hope of recovery and major equity indexes are correcting steadily and showing a possibility of downward trend is on the way at least for short to midterm although market is hoping for united approach of all govts and central banks. This time it may become bit difficult which may gold movement is suggesting.
GOLD: yesterday it made a record of $1675.9 (only a step far to reach $1700, long awaited target came earlier which expected till year end next expected areas are $1900 and $2300) and till now holding a narrow range of $1660-$1674 and showing more strength. From some sources words are coming as margin is going to be hiked and if so, it can trigger some liquidation and we‘ve to be cautious for near term but for mid to long the bullish trend‘ll be intact. Suggest to stay long with stop below $1658.
SILVER: it’s giving a bullish movement but in a different which sometimes looks like weakness. Yesterday it managed to settle above $41. What I’m thinking this movement can lead silver above its all time high of ($%0) which ‘ll be a very sharp and stiff. Suggest to stay long in silver keeping a stop $41.30.
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