Bullion Market Report As On 6 Jan 2015

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February gold closed higher on Monday for the second straight session as Greese’s political crisis and a decline in equities spurred demand for the precious metal as an alternative asset. The high-range close sets the stage for a steady to higher opening when Tuesday’s night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. First resistance is at 1211. Second resistance is at 1220. First support is at 1188. Second support is at 1170.
March silver closed higher on Monday while extending the trading range of the past two-weeks. The high-range close set the stage for a steady to higher opening when Tuesday’s night session begins trading. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. First resistance is at 16.40. Second resistance is at 16.55. First support is at 15.80. Second support is at 15.70.
Source:RSBL

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