MCX Trade Tips

Gold and Silver Trend

Buy Gold in Dips with SL below 27400.25 Target 28300.45.

Buy Silver above 53500.87 Target 55000.65.

Resistance and Support level:
Gold
R3 28144.82
R2 27981.57
R1 27819.85
S1 27453.49
S2 27251.69
S3 27089

Resistance and Support level:
Silver
R3 55508.15
R2 54743.44
R1 53981.89
S1 51973.12
S2 50729.36
S3 49967

GOLD
Sell Gold on rises in range 27400.85-27499.58, SL 27750 TARGET 27000.

SILVER
Sell Silver on rises around 52000.11 SL 53000.85 TARGET 50000.78.

MCX Gold prices have dropped sharply at the mcx index. Gold also showing less volume in some trading session however it is expected from gold that it going to certainly attract investors and demand will increase due to lower prices

Today’s MCX Gold price is 27329.25 and Silver price is 51029.38.

Gold and silver fell as investors constant to liquidate assets. Both precious metals had exhibited technical weakness. As such, increased technical selling may also have been a factor. Basically, PM's remain bullish since the Euro crisis and US slowdown is not expected to be over with any time soon. As such, most investors see the current decline as a sharp correction and expect to buy in when time favors.

MCX Gold price 26836.0
MCX Silver price 50218.0

MCX Silver prices have broken through a downtrend channel line . Near month March contract is at Rs 49,422