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

Due to continue signs of strength of US economy seem to have weakened prices. Orders for core durable goods rose by 1.8% in February which indicates that the manufacturing and production activities are picking up in the world's biggest economy.Precious metals are trading higher on COMEX today and our MCX Tips Experts expect that prices are remain under pressure on account of rebound in the U.S. dollar against other

MCX View for the day
MCX gold April support Rs 27,998/Rs 28,255, resistance Rs 28,289/Rs 28,401
MCX silver May support Rs 55,896/Rs 56,331, resistance Rs 57,198/Rs 57,800

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