Gold hiked up with an inch for
a third session on Tuesday supported by a short-covering rally, even as
investors remained on edge ahead of a policy decision from the Federal Reserve
on its bullion-friendly stimulus measures.
Investors are dumping
gold-backed exchange-traded products at the fastest pace since the securities
were created a decade ago, mirroring the steepest price drop in 32 years.
Gold has lost over a quarter of
its value this year after a 12-year bull market on fears that the Fed will
scale back its $85 billion monthly bond purchases on the back of a strong
economy.
Technical
View of Gold
GOLD
(FEB)
Trend: Consolidate | Strategy: Buy on
dips
R1- 29270, R2- 29750| S1-28660, S2- 28250
For regular updates on MCX Market you can
visit us @ www.capitalheight.com or call 0731-6615050.
No comments:
Post a Comment