Bullions continued trading on highs fuelled by European crisis as well as stronger dollar backed by positive economics last week.
Gold climbed to a six?week high in New York while Silver gained 1.28% as concerns about Europe?s debt crisis spurred demand for the metal as a protection of wealth.
COMEX Gold traded in the positive range capping six week high but refrained from breaking $1800 while Silver gained 1.82% and touched $34.905 being slightly down from bull resistance of $35.
Considering the current economic uncertainty over the Euro region as well as weakening Greenback may pour some fuel in the hiking prices.
Hence, it is advisable to built long with the target of $1850 with the strick stop loss of $1700, where as Silver may trade higher breaking $35.
Gold: S1=28450, S2=28375, R1=28600 R2=28700
Silver: S1=56100 S2=55800 R1=57500 R2=58100
Courtesy: Edelweiss Comtrade Limited Research
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