MCX Gold Silver Reports- Evening Updates

MCX Gold June Futures today opened at 225420 but could not sustain at higher levels and Gold has to face sell off today. The down trend seen during the day may not continue unless the prices consistently trade below 22300-280 levels. If it is able to persist above 22300 levels then the momentum could be stretch up to 22500-550 levels. On a broad view a direct sell off could be seen if prices close below 22150.

R1-22480-580-600 R2-22640-740 R3-22880

Pivot 22450

S1 22330-300 S2-22260-210-150 S3-22080-21990


In Silver as I predicted happened the same Yesterday. MCX Silver July Contract opened at 57725 and Made a High of 59030 during day and faced a sell off after that making a low of 55200. An upside rally could be seen only after 59000 level.

For Intraday one may sell below 55900 for the targets of 55600-55300 SL-56200

else above 56250 go for buy for the targets of 56400-56500-700.

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.