To good to be true. As I forecast yesterday that breaking of $1370 was a major sign to break the record on Friday. But too good to be soon no one thought that in a single day Gold can have 2.75% appreciation or $46 high , which is the highest in a day since 2009. The Silver also followed Gold by increasing 4.75% in a day. The unemployment claims were higher than the previous month and so was the effect of Fed meeting. Today the market seems to be quite , just US unemployment rate is going to be released. Today the buying level is $1382 which was London market closing. The key level is again $1370 below this market will be again in range of $1330s for the next week whenever this level is broken. Today the selling price is $1406 with strong resistance @ $1400.
As per yesterday’s forecast the Crude Oil broke $86 level and is now standing @$87. Today the market is calm. The buying level is $86 beyond $85.50 market will go for correction. selling price is $87.75.
Syed Arif
