BAVARIA FIRST INVESTMENT

GOLD

2010-04-12,

2010-04-12


Gold

As the market is dealing with two weeks rally on this precious metal awaiting for some correction movements would be quite smart decision. Gold is totally benefiting firstly due to weaker dollar and secondly on bailout plan directed to Greece, what naturally influences on debt condition of major UE countries and therefore UE members bonds shall be shifted with bullion in many portfolios. We suggest opening shorts from $1165 till $1180 with a highly possible targets around $1135. Otherwise, the resistance around $1220 should be only a pause before attack on $1300.

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