China, which is the second largest gold producer, in the world has announced to increased the output to around 300 tonnes in 2008. Soon China might overtake South Africa as the leading gold producer as it has discovered large gold deposits in Northwest China.
Technical View
Gold has broken $900 level & currently is around it support level of $880/- . Technically, there are chances of gold hitting $850 before resuming the uptrend. Watch out for this levels as it can provide a good entry point for long time to come.
Readers should draw their own conclusion & take appropriate action.
Disclosure: I have position or maybe trading in above said stocks/ commodity for myself/ family members / friends / Associates.
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This blog is meant for ideas on Stocks, commodity & Forex trading. It emphasizes on importance of Technical Analysis using Swing & Candlestick Patterns. Also covers articles on Insurance, Loans & Mortage to complete the entire Financial Basket.
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