Wednesday, October 12, 2011

Commodity (MCX ) Gold and Silver Updates

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A positive trading session has been seen in Gold commodity as prices are trading firmly and prices are likely to extend this gain towards 27000-27200 level. Support level for Gold is seen near 26590 and a break below this level may invite a dip lower towards 26500-26450. A swing trading is expected in Gold which means prices will take a pull back to 25600-450 and will take a re-bounce again. Above 27050, traders can go for buy in gold.

Silver commodity is trading with strong positive intra-day trend after taking support at its 14 Days MA. Now if silver breaks the upside resistance of 54500, we can see some more higher levels like 55000-55500 soon. Inability to break above 54500 will force silver to take a reverse gear till 53000-52500 again.


Sana Hussain said...

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Posted By Commodity MCX Tips