Yesterday was another all time high for Gold as it reached $1428. But the volume was thin as the last time it hit record high on 7th of November 2010 and exactly after a month it broke another high. My suggestion is to buy from dip as I see gold going towards $1450 and next year in January $1500. The dip would be $80 down from here. The Eurozone fear is making gold more pricier. Today our selling price is $1428 with stop loss of $5. And buying is $1410. Below $1400 we will have correction.
Due to Asian Economic outlook the Crude oil is advancing but we see speculation buying than on facts and data. Yesterday our selling price was met with $89.50 as it did hit high of $89.76. Today our buying price is again @$88 with selling @$89.25. My suggestion to stay away from market.
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Syed Arif
