Gold prices ready to rebound to new high - Shyamal Mehta - Gold Council Community Online

MUMBAI (Commodity Online): Gold prices saw heavy corrections in the recent days. From its unquestionable number uno position, it fell slightly putting investors to panic. But technical indicators are showing sufficient signs that it will have a rebound. In International markets, Gold future prices went down by more than one percent on Thursday on technical selling. Gold in international markets last traded at 1316 USD per ounce. Gold prices have corrected by more than seven percent from its peak but is likely to fall further on technical selling and could touch 1295-1280 levels within next few trading days. Gold prices are likely to make a short term bottom near 1310-1260. Gold prices seen rising further after it make a platform near 1260-1300. Positional traders can buy Gold near 1260 keeping a stop loss of 1245 and can book profit near 1320-1370. Gold prices could touch 1600 mark by the end of current year 2011. At MCX, the Indian commodity bourse, Gold April future prices settled down on Thursday at Rs. 19915 per ten grams against previous day’s close of 20167 down by 252 rupees. MCX April Gold contract opened down this morning at 19875 tracking weak international markets, made an intraday low at 19766 which is 14 week low and last traded flat at 19915 after it made an intraday high of 19921. MCX Gold future prices have fallen by more than five percent in last four weeks. While MCX Silver future prices have fallen by more than ten percent in last four weeks. Bullion prices are likely to continue its downtrend in the short term and MCX Gold future prices are likely to touch 19700-19400 levels in the next few trading days. Support for MCX Gold Apr contract is seen at 19750 and below it; prices can test 19450, while the resistance levels are 20200 and 20550 respectively. Short term range of MCX Gold future prices is 19400-20700. While, support for the Silver is seen at 41000 and below it could touch 40000. While resistance levels are 42500 and 43750. 14 days RSI for Silver Mar contract is at 60 levels and shows that Silver future prices are falling steadily and likely to fall further. Silver future prices are likely to fall further and may touch 41000-40500 levels within next few trading days.   Source: http://www.commodityonline.com/news/Gold-prices-ready-to-rebound-to-new-high-36029-3-1.html

Nota : Menurut artikel ini, pelabur boleh membeli emas ketika harga menjadi USD 1260 dan menjualnya di sekitar USD 1320 - 1370. Juga dijangka harga emas akan mencecah USD 1600 pada hujung tahun 2011 ini. Sama-sama kita tengok.