Commodity Updates Today
Gold silver on MCX are likely to act as they did yesterday. Gold likely to move with slightly negative bias whereas Silver may see some upside again today. In the international market also, silver started with a positive not and gold slightly negative today.Today, silver is required to trade consistently above 54500 level to extend the persisting trend. Inability to remain above 54300 may invite some downside for a while which will find a support near 54000 level.
Copper may get some hike today. Since prices are consistently trading above support level of 413, we may expect copper to reach 416-418 level today. Day traders can take long positions accordingly.
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