Buy MCX Gold Aug fut on dips; target Rs 28000: Fortune Fin
Fortune Financial Services has come out with its technical report on bullion. According to the research firm, MCX Gold Aug futures contract trend is looking strong on chart, day traders can buy on dips or buy at Rs 27620 for target of Rs 27900 & Rs 28000 with a stop loss below Rs 27420.
June 07, 2013 / 14:15 IST
Fortune Financial Services' technical report on bullion -
Bullion: Gold futures pulled higher Thursday, drawing strength from a sharply weaker dollar as investors grew cautious ahead of a key reading on the U.S. labor market. After spending much of the day nearly flat, gold for August delivery, the most active contract, was recently up USD 17.20, or 1.2 percent, at USD 1,415.60 a troy ounce on the Comex division of the Nymex.Energy: Crude-oil futures rose Thursday after a report on U.S. jobless claims raised hopes that Friday's monthly U.S. jobs data will signal improving economic conditions in the world's biggest oil consumer. Light, sweet crude for July delivery was recently 65 cents, or 0.7 percent, higher at USD 94.39 a barrel on the New York Mercantile Exchange, on pace for the highest settlement since May 28.Metals: Copper closed lower on the London Metal Exchange Thursday, weighed by economic growth jitters ahead of Friday's key U.S. employment report. At the PM kerb close, LME three-month copper was down 1.6 percent at USD 7,334.50 a metric ton. Aluminum was 0.5 percent lower at USD 1,962 a ton. Investors opted to cash in on copper's recent gains Thursday ahead of the release of U.S. nonfarm payroll data.MCX Gold Aug futures contract trend is looking strong on chart, day traders can buy on dips Major support is seen in range of 27610, 27420 and 27220 . While important resistance is seen near 28180,28310 and 28720.Recommendation - Day traders can buy at Rs 27620 Target Rs 27900 & Rs 28000 SL below Rs 27420MCX Silver July futures contract is looking strong on chart, day traders can buy on dips Major support is seen in range of Rs 43500, Rs 42900 and Rs 42200 . While important resistance is seen near Rs 44950, Rs 45700 and Rs 46600Recommendation - Day traders can buy at Rs 43980 Target Rs 44700 & Rs 45000 SL below Rs 43500.Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions. 
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