Bullions on downtrack due to fear in Euro Zone

Gold trading arnd $1531 on commex and it has the only support of $1525 on monthly and weekly charts . If it sustains above it there and around 27700 on MCX then only we can expect any bounce back here or reversal. But looking at forex market and condition of Euro Zone and Euro it is rarely possible. As euro zone is in huge trouble and green back is riding over euro. I think gold will cross the $1525 and mcx gold can see a downside around 26500 which is the only support in case it falls below 27700 of trendline channel support. Silver may also move in tendem with gold and can touch 48000 if fails to sustain above 51000 on daily charts trendline channel. rmoneyguru.blogspot.com