Peaceful Bhajan of The Divine Krishna ( Krishnashtakam ) (~~Pure Bliss~~...

Most peaceful Bhajan I ever heard in my entire life, chants & words are like blessing on us. Please share as much as you can.

Why I am Bearish on Gold and not buying in this dip

Comex gold futures ended the U.S. day session sharply lower and hit a fresh 3.5-month low Tuesday. The gold market started to sell off in late-morning trading right about the time that U.S. House Speaker Boehner mentioned a "Plan B" on the fiscal cliff negotiations. Earlier in Morning trades Gold was flirting above $1700 and showing some week strength in prices although with thin volume. Exactly around 9.30 p.m IST I was circulating message regarding gold will be liquidating any time sooner when it come back to $1695, in next one hour gold was trading below $1670, the sell off rally was quite visible on chart with more conviction when eur/usd was up & usd/jpy breach 84 mark and gold was still holding in trading session.

And there a hopeful statement comes from US house speaker Boehner to settle down "fiscal cliff" with his plan B for short term. Boehner on Tuesday proposed what recently was the unthinkable for Republicans -- letting tax rates go up on income above $1 million as a short-term step to avoid some of the fiscal cliff while continuing to negotiate a broader deal. While the Republican speaker Plan "B" has less taker from both Sides White House spokesperson and republican both rejected the plan and moving towards more negotiation on fiscal cliff deal.

How it all affect Gold prices as of now, earlier gold was getting support from fiscal cliff uncertainty & what may be looking like another recession coming in US post Jan next year, but as there is a say in politics if u can't give them bread give them cakes. Both parties GOP & Tea party (republican & democrats) need to negotiate and comes to some conclusion where they both can stick to their respective politics and save the great dreams of US.

Now on technical charts gold is slightly negative which is now more confirmed by yesterday fall, rise in EURO & fall in JPY witness two major shift in market, first market is showing confidence in EURO zone & economy as a whole in next year, recently after Japanese P.M Shinzo Abe’s take charge of office, dollar got strength against JPY on account of likely monetary easing in Japan, JPY weakness also witnessed by strong inflow in equity market and rise in crude oil prices, however this all can lead to major shift of focus for investor in first half of 2013.

Investor sentiments are moving towards more safe assets like dollar, Euro & bonds. The strong U.S. economic recovery will surprises the market and especially gold investors, which flee the traditional safe haven investment. Additionally, lack of pick up in physical demand from China and India trigger a round of gold liquidation. Recent data from Hong Kong & Bombay Bullion indicate sharp decline in actual import on YOY basis.

with Gold prices likely to find support around $1633 and $1592 in short term, $1530 can't be ruled out in near term if yen continue to decline below 86. $1703 could be resistance level from here onward and could change the current trend to reverse & upside. We are expecting strong INR in coming days & below 53 by Jan'13, Since Jan'12 starting this year gold in INR has given return in double to its counter currency in dollar, this huge gap likely to widen down in 2013 with INR likely to appreciate. Therefore strongly recommend to sell Gold in MCX with closing s/l above 31820 with a target of 29150 in short term.

 

Gold also likely to adjust its ratio with other metals, specially with copper, as SEC approves JP Morgan's controversial Physical stocks backed Copper ETF, copper prices are likely to shoot up next year post JP launch its fund, whereas gold/copper ratios trading @450 levels, this could adjust to below 400 in coming times (compare to gold copper is more cheap in inflation adjusted pricing module, although one is precious metal and other is base metal but provided an investment opportunity copper is cheaper than gold at current prices).    

Disclaimer: Although this is just a report based on some facts & finding and not promoting for any trades, please take the utmost care before taking any trading decision.

With inputs from Kitco & CNN. Compiled by Amit Daga. 

-- 
Regards

Amit Daga

"Do not take life too seriously.You Will never get out of it alive"

 Elbert Hubbard

10 nations that control the world’s gold

10 nations that control the world’s gold

Robert Vadra : Decoding new language of politics & power

Inputs from Firstpost.in

Robert Vadra, Congress General Secretary Rahul Gandhi's brother-in-law, today said he was willing to join active politics. Married to Rahul's sister Priyanka, Vadra has till now not plunged into politics. "The family I married into is in politics. It's something I cannot run away from. When the time is right, if it is what is required at that time may be yes, but my focus is on my work right now," said Vadra while campaigning in Rae Bareli. Vadra and Priyanka have been campaigning for Congress candidates in Amethi and Rae Bareli.

By saying this that he wants to join politics in future or in future people from "family" will join politics Robert actually open a new window for the game-plan & future strategy of "The Gandhi Family" again bad luck for country and congress both.

By stating this during #upelection today in campaigning for congress in Rae Bareli he means after rahul become P.M priyanka will soon join to strength congress party on account of Sonia Gandhi retierment from active politics & party work (due to her poor health condition and age factor considering after Rahul become PM she can rest for herself). That means Robert who has already amassed crores of proxy capital by real-estate money and various other sources will be a major factor in coming years to come in indian politics.Also he indicates as his children will be natural heir of Gandhi Virasaat & own chair of head of congress and thereafter The Nation.

But will he be allow to such dream in near future Indira never allow her husband to overcome her political status, so will priyanka will do in near future can be only told by time not by me. But ofcourse as said history repeat itself, and it may.

In a larger picture this could also mean bhaiya run the government at center and bhain look after party affairs and create more social schemes for sake of votes and make India present Greece by 2050. If Congress rules for another 10 years after 2014.

In all the assumption & presumption there is defeat to congress & nation as well, how could a grand old party allow such kind of injustice to their party workers & leaders other than Gandhi to accept guidance of these so called desh sevak (Gandhis always present themselves) it will be lost ground of congress and democracy. As a Nation it deserve better than "Gandhis" To grow and move forward and stand along with best we need to be proactive, required defining leaders who lead from front above all interest keeping National interest at First. Remember no Nation is great but its the people who make it great.

Decoding Robert Vadra statement : I will rule you We will rule you. I will ruin you We will Ruin you.

GOLD SILVER Techincal View & Outlook 2012 : More Surpirse in pack for the year

In Mid FY11 Gold peaked at its Life time high level of $1920 and corrected in sharp fall below $1550 in five weeks only, again bounce back and reclaim $1800 mark, but it fails thereafter to justify those higher level times when US is recovering from its recent low and Dollar rebounds from its year low. Market was mild wild and volatile in nature. And perform better YOY compare to any other asset except silver.


This Year FY12 likely to witness less volatile but downside trend in coming times.Strong resistance likely to seen @$1689 for first half and breach of the same can lead market towards $1730 and resist around $1759.Overall Market looks bearish on technical charts.Despite a long term upside trend in Gold,recently gold enter the upper leg of long term upside trend line around 1660 and
hold below than,ideal downside target will be $1413 and $1230 thereafter.With current Euro ZOne crisis upcoming US presidency  election year end,Gold likely to hold it 200 M.A around 1190 in long term.A more than expected recovery in western economies can lead to sell off kind situation in gold majorly by central banks 
and gold can touch below $1120.

Larger range $1759-$1330 could be the year 2012. ATP could be around $1540. Sell on rise around resistance will be the idea of trade for year.

GOLD WEEKLY TECHNICAL PATTERN

 -------------------------------------------------------------------------------------------------------------------------------------

2011 April reminds memory of 2006 April,when Silver prices shoot up day and night and crashed overnight to again reclaim high.Going  Year will always be remembered for Silver in terms of absolute

return/speculation/crash.

With gold/silver ratio hitting life time low due to higher silver  prices and sharp rally, silver witness huge volume with highest  volatility for investor,trader.Much more money lost in this single product compare to any other commodity this year.

In current Scenario As silver already entered into bearish zone and confirmed it mid nov11.More decline in prices along with bad equity market in first half of the year is expected. Near Time resistance @$32.3 and $34.35,whereas support seems @$24.9/$22.7.

This year market likely to be less volatile and wild compare to last year. Overall a range bound channel with upper limit @$32.15 and 23.10 likely to be traded in coming time.Market may go towards $32.3 initially to fall for $24.9.

Trade with trend both side will be the idea of trading. It will be sideways but clear moment likely to witness in silver this year.

SILVER WEEKLY TECHNICAL PATTERN
 -----------------------------------------------------------------------------------------------

More Comprehensive View on Gold & Silver Technical charts.

Gold Technical View on Charts

Silver Technical View on Charts