MCX Gold Silver Trend Today- Bullion Updates for 9 June

Silver MCX July-

Silver MCX July contract closed yesterday at 54726 level and fall by 846 points (-1.52 %) . Near term trend of silver is still seems to be rangebound. Initail bias is negative and we can expect some more decline if it openes below (or breaches) 54350. Below this level Silver can face some dowanfall till 54000-53700 levels.

Above 55200 Silver can gain some momentum towards the level of 55700-56100-300.

for Intraday Buy silver MCX July contract at 55100-200 for the targets of 55500-55800-56100 and keep a strict stoploss below 54700

below 54400 Sell it for the Intraday targets of 54200-54000-53900, Stoploss-55700

MCX Gold August-

MCX Gold Aug Futures Closed yesterday at 22510 with a loss of 112 points. Technically the nearest resistance level is seen near 22600-640 levels. While a consistent trade below 22380 may take Gold towards 22290-22200 levels.

For Intraday On should Buy Gold MCX August contract at 22600-610 for the targets of 22650-22700 and keep a stoploss below 22520.

Gold Silver Report- Commodity Updates

Gold eased but held in sight of four-week highs on Thursday settled down by 0.80 percent to 22571 but outlook remained positive as supported by concern about the outlook for U.S. growth and the European debt crisis.

On Friday, Gold and Silver prices remained steady on firm dollar ahead of most awaited U.S. nonfarm payrolls data for the month of May, to be released later today.

Yesterday, prices declined on wave of technical selling and later found some support from weakness in dollar. The dollar index fell to its lowest in a month against basket of currencies.

Gold is taking strong support at 22500 rupees in ongoing week. I expect prices to remain volatile as the fundamentals are still supporting safe haven buying for Gold.

US economy Data this week has highlighted a picture of a U.S. economy that may be running out of steam as companies hired fewer workers than expected, factory activity hit a near-two year low, auto sales slowed and pricier gasoline ate into retailers' sales.

However, Precious Metals prices may find pressure as investors might not be willing to take risk ahead of employment data and may liquidate their position. However if the payrolls data turns out worse than expected, we can see gold advancing to touch fresh record high levels in the near term.

MCX Gold Silver Reoprts- Bullion Updates

The Downward trend seen today in Gold may be continue till 22000 and a major sell off could be seen below this level. Above 22360-80 Gold might catch upside momentum and can go upto 22600 levels. For Intraday its is advised to Buy Gold July Contract only above 22360 Target-22400-450-500 SL-22230
else below 22230 go for sell targets-22000-21900-850


Silver MCX July is still trading in consolidated mode between the range of 58500-56600 from last five days. The near term seems to be range-bound Intraday trend is bearish. Below 56700 Silver might fall down to 56000-55200 while above 57900 Silver may catch the rally to test 59000 level.

Bullion Reports- MCX Gold Silver Updates for today evening

MCX Gold Is still facing the broad consolidation range between 22020-21800 levels. Today Gold June contract opened around 21880 level and for last few days it is moving around the same level. A breakout above 22020 can take Gold to test 22100-200 levels which could again fall down to 21800-700 if prices do not sustain at those levels.

For Intraday one can buy Gold above 22000 for the targets of 22050-22100-150 keeping a stop-loss below 21880.


MCX Silver July is also is in Intraday consolidation phase. Rally could be seen only above 54300 levels while a direct fall below 52600 could take Silver to test 52000-51400 levels.

Intraday Gold Silver Report and Trading Tips

Gold June Futures is still trading in the consolidated range of 21700-22050 from last three days. The daily MACD trading indicates Gold above the trigger line of Sell mode. For short term we can expect some sell off to the level of 21700. while consistent trade above 22000 can take Gold to test 22100-22300 level.

For Intraday one can sell Gold around 21900-21920 for the targets of 21750-21700 keeping an stoploss above 22000.


while in Silver July one can sell Silver around 53450-53550 for the targets of 52500 SL-above 54260.

Commodity Updates- MCX Gold Silver Trend For Today

MCX Gold June Futures

MCX Gold Has been trading inside the range of 22200-21700 for last few days. For today's session gold might trade slightly positive towards 22000-22050 levels which may remain consolidate for the day.

Intraday Traders can buy Gold around 21900-950 for the targets of 22000-22050 SL-21820

MCX Silver July Futures
MCX Silver likely to remain positive initially towards 53000 which might be followed by 53500-54000 later if it is manages to hold the levels of 52200-52000. Below 52000 trend can be reversal till 51200-50850.