Gold and Copper Stock Prices

Gold:

Gold Dropped on Friday on a Dollar Rally as Worries for Debt-Stricken Greece and a Surprise Move by China to Tighten Money Supply took a Toll on Sentiment.

Last Week, Gold was 2 Percent Higher, Partially Recovering from a two-day Sell-Off Late Last Week Driven by Technical Weakness And Heightened Fiscal Fears for Some European Countries. "The Gold Market has Been hit by Some Very Negative News -- the Chinese Monetary Tightening and Further Unwinding of The Carry Trade Related to Uncertainty Over Greece,"

Last Week Comex Gold was in Range Between 1060 $ to 1104$ an on Ounce , but in the Coming Week if Comex Gold Breaks the Level of 1030 $ an Ounce and Sustains Above it then it has a Chance to Make a Good Rally On The Upside, But if Comex Gold did not Sustain on the Upside Then it has a Chances to Break the Recent low.
Now the Supports and Resistance for the Coming Week are:
Major Support for Comex Gold in the Coming Week would be 1040 and $1025 and Resistance at $1127 and $1147
Major Support in MCX Gold Is 15700 And 15420
Major Resistance in MCX Gold Is 16650 And 17120

Copper:
Copper Prices fell on Friday Under the Weight of a Stronger Dollar, Mixed Economic Data in The United States and Further Monetary Tightening Moves in China, Which Triggered Renewed Worries About Near-Term Demand Prospects in the World's top Metals Consumer. In Comex Copper this Week Fresh Buying came after it made a low of 281 Last Week. In the Coming Week Copper is expected to be in a Consolidate Mode between the Range of 280 and 325 To 334. For The Coming Week If Comex Copper Sustains Above 316 Then We Can See The Levels of 324 and 334. All Over Trend of Copper is Still Week, Supports for Comex Copper for the Next Week Would be 288 and 263 and Resistance at 325 and 347. For MCX Copper Resistance Would Be Found At 329 and 348 and Support at 302 and 280.


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