GOLD (JUN) - Gold is trading at its lowest levels since December, but Morgan Stanley said that gold’s bull market “is not over” and that they are buyers of the metal at current prices. Resistance and support levels for the today’s session for Gold JUN contract which will expire in JUN 2012 are:
TREND BEARISH
SUPPORT 1: 28175
SUPPORT 2: 27965
RESIST 1 : 28465
RESIST 2 : 28585
SILVER (JUL) – The increasing industrial use of silver will help the metal outperform gold when it comes to precious metal investments, as the supply/demand fundamentals point to a continued scarcity of silver and ensure a shortage of supply in future which will end in the higher silver bullion prices, Silver is Expected resistance and support levels for today trade are as follows:
TREND BEARISH
SUPPORT 1: 53445
SUPPORT 2: 53090
RESIST 1 : 54665
RESIST 2 :54895
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