Gold silver Updates and MCX Tips for Today

In domestic markets, gold and silver are trading on the edge. The RSI indicator are favouring the positive trend for Gold So we can expect a rally in Gold above 29930 level.
Yesterday MCX Silver rose 1.6% and as expected, the rally has continued today also. Silver is now trading above 54200 and heading towards 54500 level. If it successfully breaches this level, we can see prices to reach 54800-55000 soon.
Technical Charts are also suggesting buying signal for both the precious metals. In other commodities, one can buy crude above 5000 level for the targets of 5050-570 level.

Copper & Silver Updates for Today

MCX bullion metals are trading under pressure again. Rupee trading up against dollar which led gold prices to remain under red mark.
MCX Silver has come down near 52600 level after witnessing 0.27% decline today. Market expectations for silver commodity are likely to stay week and the trend will depend on global cues.Technically 52200 is the level after which silver can be in proper bullish mode for near term. In today's trade, traders may not find much profit in downside. However if silver goes below 52450 level, prices are expected to touch 52000 level.In Base metals, Copper could be a buy on dips pick. Initially a downside can be seen in Copper till 420-418 level and then we can see a re-bounce recovery.

Silver Updates Today

Silver Yesterday faced a strong downfall and its Most actively trdaed July Contract closed below 53000 level with a loss of more than 1700 points.

Today if silver trades below 52300, it might see some more sell off towards 52000-51800 folowed by 51300. On the other hand if Silver trades above 53500, some upside till 54000-54500 can be seen today.

For Intraday One should go for buy only above 53500 for the targets of 54000-54500.

Below 52300 sell Silver futures Targets-52000-51600.