Posted by: Babu Suresh | March 4, 2009

Spot-Gold-Chart-04-Mar-09

Spot-Gold-Chart-4H ChartsSpot-Gold-4H-Chart-04-03-09

Well, as described the previous evening, Spot Gold was unable to hold her support $919 and now looking certain to test $894 & $884.

Had anybody been trading based on the media propaganda that Gold was rising due to fall in the stock market, I regret to inform, this is high time such traders learnt their lessons and do their homework properly before working with Gold.

Spot-Silver-4H-ChartsSpot-Silver-4H-Chart-04-03-09

Spot Silver’s tendency, which was mentioned in my last evening’s post that it not only follows Gold for direction but also takes cue from Base metals, seems to be working to some extent. $12.74 playing both support as well as resistance and at the beginning of the European session she went up to $12.92. I still have a feeling, she could surpass today’s high subject to various factors.

Healthy And Wealthy Trading

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