Posted by: Babu Suresh | March 6, 2009

Spot-Gold-Silver-Analysis-06-Mar-09

Spot-Gold-Silver-1H-ChartsSpot-Gold-Silver-1H-06-03-09

In the absence of any dramatic events about which I had mentioned in my last night’s posting, Gold continued her upward journey, however with less than anticipated strength once she broke $920.

Upon breaching $920 last night Spot Gold seemed to have lost her momentum and although today she broke $935, I am sceptical about her moving higher before testing $920 and probably even $909, while she is enjoying her support at $935 for now and resistances at $947 and $967.

Spot Silver has been the real star in the last few session after having taken severe beating. While last night $13.23 was breached effortlessly and today breaking her next resistance $13.36, she is set to look for support at $13.25 with resistances at $13.49 and $13.73, failing which, in all probabilities, she can test $13.16

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