MCX Trade Tips

Gold the precious metals at the Multi Commodity Exchange of India (MCX) may trade lower on report of continuing positive sentiment in the market with regard to the global economy. MCX gold April contract is trading at Rs 589 down a marginal 0.032% as of 10:49 AM IST while MCX silver May contract is trading down by 0.01% at Rs 785.The present month and near month COMEX gold and silver contracts are also trading higher for the day

The Gold prices may target Rs 30,000 in the coming week due to Indian demand boosted from the occasion Akshaya Tritiya and as such it would be a good idea to buy gold before the auspicious day according to our "MCX Tips" Experts.

Akshaya Tritiya Demand
Akshaya Tritiya is on April 24 expected to boost the Indian physical demand. As in India many gold dealers are protesting over the recent hike in gold import duties as physical gold demand "remains low. Recently Indian government has doubled the import duty of gold. But it is expected that demand will pick up in near term as the Akshaya Tritiya festival will be celebrated in late April and it is second-biggest festival for buying gold.

MCX Silver:
Silver was moving higher previous session as euro surged against dollar but now it fall again In today's session Silver May contract at MCX trading at Rs 57059, down by 1.26 percent by 16:09 IST and touches an intra-day low of Rs 57854.

MCX SILVER May contract was trading at Rs 57015.00 down Rs 137.00, or 0.20%. It reached an intraday high of Rs 57182.00 and an intraday low of Rs 57030.00. So far 9209 contracts have been traded.

MCX SILVER July contract was trading at Rs 59167.00 down Rs 141.00, or 0.23%. It reached an intraday high of Rs 58650.00 and an intraday low of Rs 59587.00. So far 240 contracts have been traded.

GOLD (April)
Due to Budget proposal on Friday, smart rally at higher-side but yet again the selling pressure results in closes nearly 28810. But for present consider resistance at 28910-28210 reversal to sell side. The Trend Decider weekly 27820 to watch out.
For today Higher level resistance 28260-28231 watch out and support at 28100 in the near term and Short-term trend is bullish.Below 1710-1720.12, target 1665, 1650 and then 1610 mark easily.

"Trade Tips" for Gold and Silver For Today:

Today "MCX silver prices" are currently trading close to an all important support level of Rs 58600. The May contract opened at Rs 59200 on Wednesday, down from Rs 59926 from the March beginning The MCX silver chart show the support at Rs 59600.As china is a major buyer of silver for investment and industrial purposes but disappointing trade balance might all weigh heavily on silver prices.

Today's "MCX Trade Tips For Gold "

MCX GOLDM April contract was trading at Rs 27975.00 down Rs 110.00, or 0.38% and touches intraday high of Rs 27889.04 and an intraday low of Rs 29173.00. Subsequently far 23810 contracts have been traded.

MCX GOLD (April)
After the current instability in gold, few market participants believes that it could see a rebound next week and overall their tone is cautious given jitters in the Middle East, technical charts .In previous week a little support was seen at lower level at 28180 and in the last made a high of 29334 and closed below 27824. The short-term trend is good and sharp decline to buying opportunity. For the present week, trend decider 28180 to watch out. Higher-level resistance considers at 29510, after that shows some strength and power.

"MCX Silver Price" for Today:

The white metal still remained the best precious metals, and gained 17.25 percent uptill yesterday."MCX Silver" May contract opened at Rs. 57879 and remains in a range bound within Rs. 58290 to Rs. 581400. It has broken down the important resistance of 58410 today and currently balanced around Rs. 59860 after making a high of Rs. 59604.

For now, after seeing and studying the 1hr Chart of silver it is found that it has formed a appropriate platform above Rs. 57227, but if the market is not closing below this level do not expect further downfall. More Information about Free mcx silver visit my site mcx-trade-tips.blogspot.com

GOLD (April)
In the last week, at higher level of 28878, sudden panic was seen as a result of which, it made a low of 27730 and close above 28910 indicates some support at lower level. In this week, resistance considered at 28410, crossover successfully and little positive side cannot be ruled out. Downside support at 28710 to watch out.
For Today consider resistance 29100-28360, not able to cross and sustained above, further break 28810 with volume real panic will start and may test .Closely eye 29155.

"MCX Gold Trading" Strategy for Today:

MCX gold falls, resistance at Rs.2880-29331
MCX gold gains, resistance at Rs.28915-28978
It holds small intraday profit but with some tight stop-loss
There is Possibility of move up in coming days and hold long position.