If the downmove in the Dow materialises, gold and all asset classes will fall in tandem. In 2008, when the Dow and all global indices was crashing, gold fell from $936 on October 8th to $681. So be careful before piling into gold
Currently most indices are testing their 200 DMA. So the tussle around the Nifty 4750-4830 level continues. This should get resolved in the next few days. Let the market advise us where it is headed to in the short term.
Thursday, February 11, 2010
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