IIFL has come out with its fundamental view on Gold and Silver.
Fundamental View
Gold Prices are settled lower, suppressed by a stronger US dollar. Though, Gold prices are trading higher today, supported by reports of European officials meeting tomorrow and anticipated to sign off on rules for borrowing against the European Financial Stability Facility (EFSF), as well as guidelines for intervening in the euro-zone bond markets and providing credit lines to governments.
COMEX Gold (Dec)
Recommendation: Buy at US$1,689 TGT US$1,710 SL US$1,687
MCX Gold (Dec)
Recommendation: Buy at Rs 28,600 TGT Rs 28,900 SL Rs 28,550
Silver Prices are settled lower by 2.7% at US$31.1/ounce. Silver prices made a high of US$31.9/ounce and a low of US$31/ounce. The white metal continuous to trade on a weak note, blocked by gloomy economic backdrop. On the domestic front, MCX December Silver settled lower by 1.7% on Friday at Rs54,316/kg. Silver prices managed a high of Rs55,314/kg and a low of Rs,54,168/kg. Today, Silver prices are trading higher by 1.22% at Rs54,993/kg.
COMEX Silver (Dec)
Recommendation: Buy at US$31 TGT US$32.20 SL US$ 30.80
MCX Silver (Dec)
Recommendation: Buy at Rs 54,700 TGT Rs 55,450 SL Rs 54,100
Trade our MCX Tips & feel the difference in your Trading Make Everyday Profit on our Trade Tips
Fundamental View
Gold Prices are settled lower, suppressed by a stronger US dollar. Though, Gold prices are trading higher today, supported by reports of European officials meeting tomorrow and anticipated to sign off on rules for borrowing against the European Financial Stability Facility (EFSF), as well as guidelines for intervening in the euro-zone bond markets and providing credit lines to governments.
COMEX Gold (Dec)
Recommendation: Buy at US$1,689 TGT US$1,710 SL US$1,687
MCX Gold (Dec)
Recommendation: Buy at Rs 28,600 TGT Rs 28,900 SL Rs 28,550
Silver Prices are settled lower by 2.7% at US$31.1/ounce. Silver prices made a high of US$31.9/ounce and a low of US$31/ounce. The white metal continuous to trade on a weak note, blocked by gloomy economic backdrop. On the domestic front, MCX December Silver settled lower by 1.7% on Friday at Rs54,316/kg. Silver prices managed a high of Rs55,314/kg and a low of Rs,54,168/kg. Today, Silver prices are trading higher by 1.22% at Rs54,993/kg.
COMEX Silver (Dec)
Recommendation: Buy at US$31 TGT US$32.20 SL US$ 30.80
MCX Silver (Dec)
Recommendation: Buy at Rs 54,700 TGT Rs 55,450 SL Rs 54,100
Trade our MCX Tips & feel the difference in your Trading Make Everyday Profit on our Trade Tips
