Wednesday, June 12, 2013

Buy MCX Gold at Rs 28070; target Rs 28190: Dani Commodities

Dani Commodities has come out with its report on commodities. According to the research firm, Gold for August delivery is trading down USD 3.2 at USD 1382.8 per ounce on the New York Mercantile Exchange. One can buy MCX Gold at Rs 28070 with a stoploss of Rs 28000 for target of Rs 28190. Dani Commodities' report on commodities: Gold futures slipped in the electronic session today, with the Asia equities trading mostly lower after Bank of Japan held its asset-buying and other policy elements unchanged and upped the economic outlook. Real timeTechnical Analysis Software Commodity Charting Software
The policy announcement sent the yen rising and pushed stock futures lower. The central bank said "Japan's economy has been picking up" and "exports have started picking up," after saying at its last meeting on May 22 that the economy "has started picking up" and "exports have stopped decreasing." It also said "some indicators suggest a rise in inflation expectations."Australia resumed trading after closing on Monday for a public holiday, getting its first chance to react to the events that influenced the previous session - namely, last week’s forecast-beating U.S. nonfarm payrolls data and disappointing Chinese economic data that came out over the weekend. Markets in mainland China remained closed for a three-day public holiday, though Chinese companies listed in Hong Kong remained weighed by the poor economic data out over the weekend. The Hang Seng China Enterprises Index was down 0.5 percent and the Hang Seng Index was off 0.5 percent.
Gold for August delivery is trading down USD 3.2 at USD 1382.8 per ounce on the New York Mercantile Exchange. It ended with a gain of USD 3 an ounce, or 0.2 percent, at USD 1,386 yesterday.

International: Major Support at USD1400. Bearish below USD1400.

Domestic: Buy at Rs 28070, Stoploss Rs 28000, Target Rs 28190.

International: Major Support at USD24. Bearish below USD24.

Domestic: Buy at Rs 44050, Stoploss Rs 43750, Target Rs 44400.

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Source : .Money Control

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