Wednesday, October 11, 2006

Humpty Dumpty set for a great fall.................

There is nothing new to write about Gold and Silver . Everything is the same as last week. Gold has been unable to break $680.70 spot despite a number of tries in the past week. This is signalling a significant bearish divergence in the near term this time round Gold should fall below $570.00 spot and test $551.40 spot and maybe to low $500.00. On the upside we could see $593.00 spot which should again be a good levell to go short with stops above $600.00.Crude oiul has also closed below $58 ahead of US inventories which could again trigger something in Gold.

Silver has nothing new to add this wek expect that it is following Gold. Whenever you want to buy anything buy silver and whenever you want to sell anything sell Gold as Silver will rise faster and fall slower as compared to Gold. Buy on majort dips around $10.00.

Happy trading.

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