SPOT GOLD LEVELS FOR 08.06.2009
966 above 975-979-995-1003.
(Strong Res-979, 1003)
963 below 946-944-942-932-928
(Strong Supp-946, 942, 928)
Gold took a hit once more on the back of profit booking. Any close below $946 will take Gold into a consolidation phase. Consolidation would be between $946-908. A bounce back from $946 levels is quite possible. Gold will strengthen only above $966.
SPOT SILVER LEVELS FOR 08.06.2009
15.51 above 15.74-15.96
(Strong Res-15.96)
15.45 below 14.94-14.79-14.66-14.52
(Strong Supp-14.94, 14.79, 14.52)
Silver took a big hit on Friday and there was a repeated warning for it since few days. If Silver closes below $14.94, then it would enter a consolidation phase between $14.94-14.52. A bounce back from $14.94 is quite possible. Silver will prove its strength only above $15.51.