Wednesday, May 16, 2012

MCX Gold Trend & MCX Silver, Nickel Tips

MCX Gold Trend : MCX Gold Futures hit lowest level in six weeks attracting physical traders. MCX Gold June contract hits Rs. 27,885 lower since 4th April. MCX Gold has seen decline of 2.5% so far this week. Global gold declined to weakest level since December after turmoil in Greece political arena which prompts investors to cut exposures to yellow metal. Due to weaker rupee traders are not sure of buying gold. The rupee plays a crucial role in determining cost of dollar quoted yellow metal.
MCX Silver Tips, Nickel Tips
-Buy MCX Silver between Rs 52270-52230, stop loss below Rs 52000, Target at Rs
52600 and 52750
-Buy Nickel at CMP Rs. 925.8 Stop Loss Rs. 920 Target Rs. 931-932.
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