Friday, April 29, 2011

MCX Gold SIlver Updates

Gold and silver price both opened flat and remained in narrow range in opening trade on Friday.

Prices rose after traders showed back interest in buying bullion metals following their recent drop in prices. Physical demand for bullion also provided required support.

On Friday MCX July Silver contract rose by 1.20 percent to 72745 rupees in morning trades. Gold June delivery contact dropped by 0.10 percent to 22228 rupees.

Immediate support for Silver looks at 72000 and below it may test 71200 rupees. Resistance for contract seems to be at 73200 rupees.

Gold look as if to be in sort of holding mold. Traders and investors seem to be somewhat cautious about Bullion commodities due to high volatility in last few days. Overall trend is positive for coming weeks. Buy on dip can be considered as best earning opportunity for upcoming week.


Posted By Commodity MCX Tips