Market over View
Gold
Technical Analysis:
Major trend sideway, resistance 946.40 964.20 990.50, support 934.50 928.00 Charts
Gold break strong point 929.00 and try on 947.00 twice and go to 935.00 he can break his high soon and go to 965.00.
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Fundamental:
- · Gold gained more than 2% in the previous session after Treasury Secretary Timothy Geithner introduced a new plan to rescue the ailing banking sector. Markets, however, cast doubts on the plans. Stocks and crude-oil prices tumbled.
· CMC Markets strategist Ashraf Laidi said doubts about the U.S. plan to shore up banks and the economy had led to fears of an escalation of debt issuance. "This combination of further debt escalation with a lack of any economic result is further fortifying gold's ascent.
Hassam
Date 12\feb\2009
