Gold set for biggest loss in 5 months on US stimulus woes

Gold was headed for its biggest monthly drop since June as a recovering US economy prompted investors to shift money to rallying equities, amid expectations of an end to easy central bank money. Gold has shed 6 percent for the month and has lost more than a quarter of its value so far this year, which puts it on track to post its first annual loss in 13 years.

 It has stayed below US 1,300 for three weeks now and has been largely rangebound in the last few sessions due to thin trading around the US Thanksgiving holiday. "It's that time of the year when people are really reluctant to leave the sidelines. And there has been no catalyst to push prices either way," said a Hong Kong-based precious metals trader. "From a positioning standpoint, people have already exhausted on the downside. We could possibly end higher for the year from current levels." Spot gold was unchanged at USD 1,244.50 an ounce by 0751 GMT. Silver, platinum and palladium were all trading higher. The next big push for prices could be in early December when US nonfarm payroll data is expected. Economic data has become a significant driver of gold prices as the outlook for US monetary stimulus depends on the strength of the recovery. The USD 85 billion in monthly bond purchases by the U.S. Federal Reserve have burnished gold's appeal as an inflation hedge. PHYSICAL SUPPORT Buying from China, set to become the world's biggest consumer of gold this year, picked up this week as prices continued to be under pressure. On Thursday, traded volumes of 99.99 percent purity gold on the Shanghai Gold Exchange hit their highest in seven weeks. Volumes for the week at the Friday close were the highest since the last week of September.

LEAD NEWS

Positionally Immediate support for Lead is 126.Resistance for the Lead is 131-132-133-134-135

LEAD RES 128.7 : 129.2 : 133.9 : 136.3 : 139.7 : 143.2 : 145.7 : 148.2

LEAD SUP 127.6 : 127.1 : 122.6 : 120.3 : 117.1 : 113.9 : 111.7 : 109.5

INTRADAY  BUY LEAD 129 TGT 130, 131.50 SL 127.60

LEAD UPDATES

The trend in MCX base metals look negative and traders may sell at higher levels for the day. Intra-day strategy for MCX copper and nickel is given below Support for MCX copper November delivery is seen at 440 and 436.5 levels while resistance is seen at 446.5 and 450 levels. Support for MCX nickel November delivery is seen at 820 and 815 levels while resistance is seen at 836 and 846 levels. 

LEAD UPDATES

Position.Positionally Immediate support for Lead is 127.Resistance for the Lead is 131-132-133-134-135

LEAD RES 129.4 : 130 : 134.3 : 136.8 : 140.2 : 143.7 : 146.2 : 148.7

LEAD SUP 127.8 : 127.2 : 123 : 120.7 : 117.5 : 114.4 : 112.2 : 110

INTRADAY BUY LEAD AT 128.10 TGT 129.40, 131 SL 127

LEAD UPDATES

Positionally Immediate support for Lead is 127.Resistance for the Lead is 132-133-134-136

LEAD RES 130.2 : 131 : 135 : 137.5 : 140.9 : 144.4 : 146.9 : 149.5

LEAD SUP 128.4 : 127.6 : 123.7 : 121.4 : 118.2 : 115 : 112.8 : 110.6  

INTRADAY SELL LEAD 129.50 TGT 128, 127 SL 131

LEAD UPDATES

Positionally Immediate support for Lead is 127.Resistance for the Lead is 133-134-136

LEAD RES 131.8 : 132.6 : 136.7 : 139.2 : 142.6 : 146.1 : 148.7 : 151.2

LEAD SUP 130.1 : 129.3 : 125.3 : 123 : 119.8 : 116.6 : 114.3 : 112.1

INTRADAY SELL LEAD 130 TGT 128.50, 127 SL 131.90

LEAD UPDATES

Positionally Immediate support for Lead is 127.Resistance for the Lead is 133-134-136

LEAD are 132.1 : 133 : 136.8 : 139.3 : 142.7 : 146.3 : 148.8 : 151.3

LEAD are 130 : 129.1 : 125.4 : 123.1 : 119.9 : 116.7 : 114.4 : 112.2

INTRADAY SELL LEAD 131.20 TGT 130, 128, SL 133

LEAD UPDATES

Positionally Immediate support for Lead is 127.Resistance for the Lead is 132-133-134-136

LEAD RES 130.8 : 131.5 : 135.8 : 138.2 : 141.7 : 145.2 : 147.7 : 150.3

LEAD SUP 129.3 : 128.6 : 124.4 : 122.1 : 118.9 : 115.7 : 113.5 : 111.3


INTRADAY SELL LEAD AROUND 130.50 TGT 129.60, 128 SL 131.80

LEAD UPDATES

LEAD res 131.1 : 132.1 : 135.5 : 137.9 : 141.4 : 144.9 : 147.4 : 149.9
LEAD sup 128.4 : 127.4 : 124.1 : 121.8 : 118.6 : 115.5 : 113.2 : 111

 INTRADAY SELL LEAD 130 TGT 128.40, 217.40 SL 132.10

LEAD UPDATES

Positionally Immediate support for Lead is 127.Resistance for the Lead is 133-134-135-136

LEAD RES 129.8 : 131 : 134.1 : 136.5 : 140 : 143.5 : 146 : 148.5

LEAD SUP 127 : 125.8 : 122.8 : 120.5 : 117.3 : 114.2 : 112 : 109.8

INTRADAY SELL LEAD 128.40 TGT 127, 126 SL 129.60

LEAD UPDATES

Short term Lead is in sell position.Positionally Immediate support for Lead is 131.Resistance for the Lead is 134-136
LEAD RES 133.9 : 135.1 : 138.3 : 140.7 : 144.2 : 147.7 : 150.3 : 152.8

LEAD SUP 131 : 129.8 : 126.8 : 124.4 : 121.2 : 118 : 115.7 : 113.5

INTRADAY SELL LEAD AT 133.25 TGT 132, 131 SL 135.10

LEAD UPDATES

Lead is coming down from overbought level For short term Lead is in sell position.Positionally Support for the Lead is 133-131-. Immediate resistance for Lead is 138

LEAD RES 135.4 : 135.9 : 140.6 : 143.1 : 146.6 : 150.2 : 152.7 : 155.3

LEAD SUP 134.1 : 133.6 : 129 : 126.7 : 123.4 : 120.2 : 117.9 : 115.7

INTRADAY SELL LEAD 134 TGT 132.60, 131 SL 135.50

LEAD FREE TIPS

LEAD RES 135.5 : 136.1 : 140.7 : 143.1 : 146.7 : 150.2 : 152.8 : 155.4

LEAD SUP 134.1 : 133.5 : 129.1 : 126.7 : 123.4 : 120.2 : 117.9 : 115.

INTRADAY BUY LEAD 134 TGT 135.50, 136.70 SL 132.80

LEAD UPDATES

Positionally Support for the Lead is 133-132-131-. Immediate resistance for Lead is 138

LEAD RES  136.6 : 137.7 : 141.3 : 143.8 : 147.3 : 150.8 : 153.4 : 156

LEAD SUP  134.2 : 133.1 : 129.6 : 127.3 : 124 : 120.8 : 118.5 : 116.3

INTRADAY BUY LEAD 135.10 TGT 136.60,138 SL 134

LEAD FREE TIPS

Positionally Support for the Lead is 132-131-.Resistance for the Lead is 136

LEAD RES 135.6 : 136.6 : 140.2 : 142.7 : 146.2 : 149.7 : 152.3 : 154.9

LEAD SUP 133.1 : 132.1 : 128.6 : 126.3 : 123 : 119.8 : 117.5 : 115.3

INTRADAY BUY LEAD 134 TGT 135.40. 137 SL 132

Lead updates

MCX Lead Nov : Sell around 135 levels with a stop loss placed above 136 levels for targets of 132 levels.   

Lead updates

MCX Lead Nov : Sell around 135 levels with a stop loss placed above 136 levels for targets of 132 levels.   

LEAD FREE TIPS

Positionally Support for the Lead is 133-132-131-. Immediate resistance for Lead is 138

LEAD RES 136.2 : 137.5 : 140.6 : 143.1 : 146.6 : 150.2 : 152.7 : 155.3

LEAD SUP 133.3 : 132 : 129 : 126.7 : 123.4 : 120.2 : 117.9 : 115.7

INTRADAY SELL LEAD AT 134.90, TGT 133.60, 132.20 SL  136.30

LEAD UPDATES

The Lead is now trading in overbought level, Positionally Support for the Lead is 132-131-.Resistance for the Lead is 136

Resistance of LEAD  135.1 : 136.1 : 139.6 : 142.1 : 145.6 : 149.2 : 151.7 : 154.3

Support of LEAD  132.5 : 131.5 : 128.1 : 125.7 : 122.5 : 119.3 : 117 : 114.8

INTRADAY SELL LEAD AT 134, 134.20 TGT 132.80, 131 SL 135.60

LEAD UPDATES

Positionally Support for the Lead is 133-132-131-130-. Immediate resistance for Lead is 137, Currently Lead is in strong uptrend and the trend is supported with good volume The open interest is not increasing with trend . Cautious point is buying at higer levels seems decreasing. The Lead is now trading in overbought level

LEAD RES 135.5 : 136 : 140.7 : 143.2 : 146.7 : 150.3 : 152.8 : 155.4

LEAD SUP 134.2 : 133.7 : 129.1 : 126.8 : 123.5 : 120.3 : 118 : 115.7

INTRADAY SELL ONLY AT 136 TGT 134.80, 133 STRICT STOPLOSS AT 137.20