Gold Silver Trend and Technical Levels for Today

US employment data has pushed bullion prices to downside. The report say, 195,000 new jobs has been added on payroll last month which is way better than what was expected.

On Friday, gold spot prices fell 2% followed by 0.30% decline to reach $ 1219.31/Ounce.

On MCX, Gold august contract is trading below 26000 level and heading towards the nearest support line of 25850. A breach through this level would stimulate the downside objective and this yellow metal may suffer a down trend till 25500. However strong trades above 26200 can help Gold to pick up the upside momentum up to 26300-26500.

Silver can be a buying bet above 40130 for the targets of 40250-40320. Keep strict stop loss to avoid unpredictable losses.


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