Friday, November 11, 2011

MCX Gold and Silver Updates: Trading strategy For Today


On MCX Gold prices, as expected, took a dip and then bounced back. We can see prices go up to 28800-850 if it trades above 28750 in a consistent way. In Broad term perspective Gold is looking persistent and will be in bullish trend unless 28400 is breached on downside.

Silver may trade in sideways today and likely to remain flat for the day. A rally could be seen above 57200 which may last till 57600-57900 and then Silver may take a bounce back. The overall trend is sluggish.

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Posted By Commodity MCX Tips