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Commodities Briefing - Categorized | Bullion/Gold, Price Watch more

Gold bullion “has base for assault on $1800″, India seeing “zero demand” for silver

Posted on 02 October 2012

Gold Bullion dipped below $1770 per ounce Monday morning in London, though it remained in line with the last fortnight’s trading, while European stock markets rallied along with the Euro following news late last week that the capital needs of Spain’s banks are within existing provisions.
“On the monthly chart, the bull trend remains intact, with uptrend support at $1594 and resistance at $1790, the previous high,” says technical analyst Russell Browne at Scotia Mocatta. “[Gold seems] to have established a base now down at $1740,” adds Dave Govett, head of precious metals at brokerage Marex-Spectron………………………………………..Full Article: Source


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