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Bullions road map for 12 Jun, 2012


Gold: closed at 29765 day trading range is expected to remain between 29500-29900, trend is sideways. 29700 zones will act as trend decider above 29700 gold will try to head towards 29780-860 zones for the day. Stability above 29900 needed to confirm further upside for short term otherwise reversal is likely from resistance area. Immediate support seen at 29630 stability below 29630 would trigger intraday weakness and it will try to head towards 29580-530 zones.  29500 will remain key support failure below 29500 may take it to 29440-400 zones. 

Silver: closed at 54694, day trading range is expected to remain between 53700-55300, trend is sideways.  54300 is important to watch in silver stability above 54300 will be supportive for silver and 54770-950 will remain major resistance for the day above 54950  it will try to move towards 55200-300 zones, but 55300 will remain key resistance for the day, and further upside only possible after breakout above 55300. Below 54300 it will try to head towards 54050-53950 zones 53700 will remain key support on daily closing basis , closing below 53700 would signal a primary decline for 1500-2000 Rupees in silver. 

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