Buy MCX Gold August; target Rs 28220: Angel Commodities
According to Angel Commodities one can buy MCX Gold August between Rs 27,711-27,680 with a stop loss of Rs 27,470 for target of Rs 28220.
June 18, 2013 / 13:31 IST
Angel Commodities' weekly tracker report on Gold
Indian gold imports fall in May’13: Net gold imports into India may have declined from an average USD 135 million in the first-half of May’13 to USD 36 million in the second-half of the month. Finance Minister P Chidambaram urged Indian investors to resist the temptation to buy gold. He added that if gold purchases declined then this would help to curb the burgeoning Current Account Deficit.Outlook: Weekly trend in gold prices is expected to be bullish on account of expectations that the Federal Reserve might continue its bond-buying program in the next few months, thereby leading to weakness in the Dollar Index.Weekly Technical Levels
Spot Gold : Support 1,373/1,354 Resistance 1,402/1,414. (CMP: USD 1,386.95)
Buy MCX Gold August between 27,711-27,680, SL-27,470, Target -28,220. (CMP: Rs 27,782)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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