Gold Down as Dollar Strengthens, Uncertainty over Fed Taper Timeline Remains - Swastika Investmart Ltd
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News in headlines:
* Oil recovers as tight U.S. supplies offset China reserves sale plan
* Gold Down as Dollar Strengthens, Uncertainty over Fed Taper Timeline Remains .
* Oil Up, but Set for Weekly Loss as China Plans Strategic Reserve Release
Chart of the day:
GOLD:
GOLD is trading in well-defined trading range of 47600-46700 and any decisive move from this band will dictate further direction from here. 47200 is an immediate intraday hurdle while 46700 is an immediate intraday support level.
Technical View:
* Bullion: Day trend is indicating sideways move in Gold and Silver.
* Energy: Day trend is indicating sideways in Crude oil. And uptrend in Natural gas.
* Base metals: Day trend in base metal is indicating up-move.
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