Ø
December
gold closed lower on Friday as it extends this week's decline. The low-range
close sets the stage for a steady to lower opening when Monday's night session
begins trading. If December extends the decline off October's high, October's
low crossing at 1251.00 is the next downside target. Stochastics and the RSI are
bearish signaling that sideways to lower prices is possible near-term. Closes
above the 10-day moving average crossing at 1322.00 would confirm that a
short-term low has been posted. First resistance is October's high crossing at
1361.80. Second resistance is the reaction high crossing at 1375.40. First
support is today's low crossing at 1280.50. Second resistance is October's low
crossing at 1251.00.
Ø
December
silver closed lower on Friday as it extends the decline off October's high. The
low-range close set the stage for a steady to lower opening when Monday's night
session begins trading. Stochastics and the RSI are bearish signaling that
sideways to lower prices are possible near-term. If December extends the decline
off October's high, October's low crossing at 20.495 is the next downside
target. Closes above the 20-day moving average crossing at 22.042 would confirm
that a short-term low has been posted. First resistance is the 20-day moving
average crossing at 22.042. Second resistance is last Wednesday's high crossing
at 23.095. First support is today's low crossing at 21.250. Second support is
October's low crossing at 20.495.
Technical levels
for 11th Nov,
2013
Metal
|
Support ($/oz)
|
Resistance
($/oz)
|
Gold
|
1,269.46
|
1,312.75
|
Silver
|
21.063
|
21.804
|
Economic Calendar:
Date
|
Economic Indicator
|
Country
|
Actual
|
Forecast
|
Previous
|
Effect &
Remarks
|
11th Nov
|
German Buba
President Weidmann Speaks
|
US
|
Pending At 10:30pm
|
NA
|
NA
|
Due to deliver a
speech titled "The euro area between personal responsibility and community
responsibility. Switzerland as a hint?," in
Basel
|
8th Nov
|
Non-Farm
Employment Change
|
US
|
204K
|
121K
|
148K
|
As Actual >
Forecast = Good for currency. Change in the number of employed people during the
previous month, excluding the farming industry has increased.
|
8th Nov
|
Unemployment
Rate
|
US
|
7.3%
|
7.3%
|
7.2%
|
As Actual =
Forecast = No impact for currency. Percentage of the total work force that is
unemployed and actively seeking employment during the previous
month
|
Disclaimer: This report
contains the opinion of the author, which is not to be construed as investment
advices. The author, Directors, other employees of RiddiSiddhi Bullions Ltd. and
its affiliates cannot be held responsible for the accuracy of the information
presented herein or for the results of the positions taken based on the opinions
expressed above. The above mentioned opinions are based on the information,
which is believed to be accurate, and no assurance can be given for the accuracy
of the information. The author, directors and other employees and any affiliates
of RSBL cannot be held responsible for any losses in trading. In no event should
the content of this research report be construed as an express or an implied
promise, guarantee or implication by or from RSBL that the reader or client will
profit or the losses can or will be limited in any manner whatsoever. Past
results are no indications of future performance. Information provided in this
report is intended solely for informative purposes and is obtained from sources
believed to be reliable. The information contained in this report is no way
guaranteed. No guarantee of any kind is implied or possible where projections of
future conditions are attempted. We do not offer any sort of portfolio advisory,
portfolio management or investment advisory services. The reports are only for
information purpose and are not to be construed as investment advices.
