MCX Gold prices have been consolidating with less directive moves. Even in this baffling state, weakness could restore only below 29160 region, else hold the same for short covering rally towards 29350/29420 or even higher towards 29570. But unexpected plunge below 29160 region may ignite fresh selling towards 29030/28880.
In Silver even as the broad negative trend is intact, intraday moves likely to be restricted near 52200-52000 region and push prices higher. A direct rise above 54500 with volume would require negating our bearish expectation and push prices higher.