Record Breaking run of Gold and Remarkable run of Silver

Hi Traders,

Record Breaking run of Gold Continued last week. Closed around $1855 on 19th Aug,Friday. It has been very nice upward trending bullish run for the Gold in the past few weeks because of variety of global cues from USA and Europe. The date to watch next week is 26th Aug ,Fri when Fed meets in Jackson
Hole . with recent concerns of recession , market may be anticipating some sort of QE3.but the concern for the bull run in gold will be margin hike.COMEX hiked the margin on Aug 10th, but that did not deter the bull run in gold. There is news in the weekend margin hikes may take place.check this news.Increase in Gold Margins Likely

Silver did not lag behind last week. in fact it has gone up by about 5.5% on 19th Friday itself to around $42.90.This is very good upside break out after ranged trading in the past 3 months. I think it is first time after the late April , early May surge, silver closed around this price.Going into next week, silver looks bullish.

On MCX ,on 20th Saturday, Silver Closed above Rs 66200 and Gold above Rs 27900.The bullish run in both the metals may continue.But keep an eye on the Margin hikes in the international markets.if there are margin hikes in COMEX, MCX may also follow suit.Memories of Late April, Early May may come handy and serve as a useful reference.