Monday, May 3, 2010

GOLD . . . safe haven ?

The Nifty fell today on back of weak US and european markets on last friday.. Well it seems corrections would continue across financial markets.

Among the markets which are witnessing buying pressure, is GOLD. It touched a recent high of $1180 and it is showing indications of re-testing (or at least going near to ) $1225 in coming days.



The price charts indicate positiveness till the time $1150 is intact. Problems across Europe , if they worsen, would only add to the demand for this yellow metal.

In fact along with Gold, it seems even Silver is witnessing some good moves and is all set to test higher levels.

Happy Trading !

CA Rajiv D Khatlawala
www.investogyan.com

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