"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.

Strong break below Rs 59400 indicates a short term weakness. Silver also fell following gold. Silver for May delivery on the MCX was 0.69% lower at Rs 57,965 per kg.

India gold clear-cut about a percent on Wednesday afternoon; extending losses for a fourth straight session and increase deals from physical buyers as the peak wedding season is near.The most-active gold for April delivery on the Multi Commodity Exchange (MCX) fells to 0.95% to Rs 27,881. The contract shed 0.69% in the earlier three sessions. Currently wedding season is there in India, which is the world's biggest buyer of bullion the deals are happening as prices have come down to Rs 27,610 .

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