Bullion Market Report As On Feb 2,2015

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February gold closed sharply higher on Friday as it consolidates some of Thursday’s decline. The high-range close sets the stage for a steady to higher opening when Monday’s night session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices is possible near-term. First resistance is at 1290. Second resistance is at 1300. First support is at 1270. Second support is at 1260.
March silver closed higher due to short covering on Friday as it consolidated some of Thursday’s decline. The high-range close set the stage for a steady to higher opening when Monday’s night session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices is possible near-term. First resistance is at 17.40. Second resistance is at 17.70. First support is at 16.90. Second support is at 16.70
Source:RSBL

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