Bullions report for Gold prices is slumped and the dollar gained almost 1 percent for the week making dollar position strong at market platform. Copper ends up 1 pct on China demand optimism and Brent crude prices fell 2 percent on Friday. Dollar index strengthens, helps pressure crude oil. Gold prices slumped for a second day on Friday to conclude its worst week in eight, crashing through key technical supports, as investors shed riskier assets and bought the dollar. The dollar gained almost 1 percent for the week versus the euro on worries that Greece's parliament will not approve a package of austerity measures next week. Copper rose to a one-week high on Friday after better than-expected economic data from the U.S. and Greece's deal with international lenders lifted equity markets and risk appetite. Brent crude prices fell 2 percent on Friday as Europe's debt problems and a dollar index rebound extended oil's decline a day after consuming nations announced they were tapping strategic reserves.
GOLD MCX (AUG)
•Trend: Consolidate
•Strategy: Buy on dips
RESISTANCE:
• R2 - 22570
• R1 - 22380
SUPPORT:
• S1 - 22080
• S2 - 21850
CRUDE OIL MCX (JULY)
•Trend : Consolidate
•Strategy: Sell on high
RESISTANCE:
• R2 - 4270
• R1 - 4180
SUPPORT:
• S1 - 4050
• S2 - 3970