Commodity Updates for Gold Silver and Base Metals

ECB's disappointing decision has affected the Commodity market also and we can see mix trend in MCX with sluggish movement.MCX silver has appreciated marginally to trade near 52940 level up 36 points, It may suffer a decline mode if it doesn't sustain above 53000 level.
Gold is trading sideways with slight red mark. Marginal decline of 0.11% has been seen in Gold commodity. As long as Gold prices manage to stay above 29550 level, we can expect a bounce back recovery in coming week but below the same, Gold may lose up to 29300-29200 level.

Some spark can be seen in base metals as Zinc and nickel prices have witnessed some upside. MCX zinc is trading around 102.20 and expected to trade between 103-104 till today EOD. 
Copper may come down to 409 level which is acting as nearest support for falling prices. One can go for buy around 409 level for short term target of 416-420 level.


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