3/Mar/2014 Gold & Silver Analyses
Gold
Reuters of New York/London reported that the gold price fell after rise on Friday as U.S. Stocks rose. However, with posting its biggest one-month rise since last July in February, the safe-haven appeal of gold was boost by the continued concerns on U.S. economic growth slowing. Technically MMI GROUP Trust Fund Team thinks the upward trend of gold is in good condition, a narrow oscillation may occur. If can effectively break 1345.40 line, it will test 1361.90 line again.
Upside resistance: 1345.40 / 1361.90
Downside support: 1330.70 / 1307.40
Silver
Ministry of Trade of India stated that the trade deficit narrowed in January, as the imports of gold and silver dropped 77% from a year earlier, the tensions in Ukraine is escalating, silver is expected to go higher by the influence of political turmoil. MMI GROUP Trust Fund Team thinks silver may synchronize with gold though, the market trend didn’t go upward obviously on weekly line.
Upside resistance: 21.50 / 22.20
Downside support: 21 / 20.60
This article only represents the personal point of author, for reference only, not as a basis for the investment. Enter the market accordingly at your own risk.
Gold
Reuters of New York/London reported that the gold price fell after rise on Friday as U.S. Stocks rose. However, with posting its biggest one-month rise since last July in February, the safe-haven appeal of gold was boost by the continued concerns on U.S. economic growth slowing. Technically MMI GROUP Trust Fund Team thinks the upward trend of gold is in good condition, a narrow oscillation may occur. If can effectively break 1345.40 line, it will test 1361.90 line again.
Upside resistance: 1345.40 / 1361.90
Downside support: 1330.70 / 1307.40
Silver
Ministry of Trade of India stated that the trade deficit narrowed in January, as the imports of gold and silver dropped 77% from a year earlier, the tensions in Ukraine is escalating, silver is expected to go higher by the influence of political turmoil. MMI GROUP Trust Fund Team thinks silver may synchronize with gold though, the market trend didn’t go upward obviously on weekly line.
Upside resistance: 21.50 / 22.20
Downside support: 21 / 20.60
This article only represents the personal point of author, for reference only, not as a basis for the investment. Enter the market accordingly at your own risk.