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
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