MCX Gold Silver Updates Today: Market Trend and Trading Tips

Gold and silver commodities are trading weak in international market where Gold and Silver prices have broken 0.4% and 0.7% receptively.

The trend seen in international market has affected the domestic market also and bullion commodities started with weaker note. With slight decline, mcx Gold has come down below 31700 level while silver has witnessed a decline of nearly 0.40%.. MCX Silver is facing nearest support at around 61000 level while immediate resistance can be seen near 61500 level.

Gold can witness further decline below 31500 but a bounce back from the 31550 can invite traders to buy on lower levels.

Gold (December futures) MCX: Buy Rs -31550, stoploss of Rs -31450, Target- 31600-700

Silver (December futures) MCX: Buy -61,450, Target- 61700-62000, stoploss- 61000


Post a Comment