Posted by: Babu Suresh | March 5, 2009

Spot-Gold-Silver-Analysis-05-Mar-09

Spot-Gold-Silver-4H-ChartsSpot-Gold-Silver-4H-05-03-09

After momentarily breaching $900 twice since last night, Spot Gold today firmly breached $920 and is heading towards her nearest resistance at $935. With all the conditions looking to be in favour of Gold, I have little doubt unless, some dramatic events occur before we retire for the weekend, she has all the possibilities to breach her nearest resistance while $921 once again giving her strong support.

Spot-Gold-Silver-1H-ChartsSpot-Gold-Silver-1H-05-03-09

Spot Silver after breaking her only resistance $12.85, all set to breach $13.23 and $13.36. However, I would expect some profit booking before next rally begins.

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