BSH: GOLD Outlook: Gold was barely changed on Tuesday and held - TopicsExpress



          

BSH: GOLD Outlook: Gold was barely changed on Tuesday and held near its weakest level in two months as a firmer U.S. dollar and rallies in equities undermined the metals appeal as an alternative investment. Chinas net gold imports in July from main conduit Hong Kong tumbled to their lowest since June 2011 because the country already has ample supply from shipments in earlier months, while jewellers are waiting for lower prices. Russia increased its gold holdings for a fourth straight month in July, adding 10.6 tonnes to its reserves, while Turkey lowered its holdings by 4.3 tonnes. SPDR Gold Trust, the worlds largest gold-backed exchange-traded fund, said its holdings fell 0.37 percent to 797.09 tonnes on Monday. Gold prices are expected to move in a range to higher for the day...Technical: As said and saying anytime we can see bounce in gold but need to close and trade above 1283 to move further till 1295-1300 levels where one can hold or add some buys below or at around 1277-1280 range to buy..thnx and happy trading
Posted on: Tue, 26 Aug 2014 05:57:15 +0000

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