Monday, August 06, 2012
MCX Gold and Silver Tips For Today
MCX Gold : Last week MCX Gold contract gained by 0.4% and closed at 29,905/10gms on Friday. Appreciation in Indian rupee helps in sharp gaining in prices of MCX Gold. Spot Gold prices declined by 1.2 percent in the last week. Gold touched a low of $1548.49 during the week and closed at $1603.80 in the last week.
Gold Support and Resistance-
Support – 29829, 29753, 29655
Resistance – 30003, 30101, 30177
MCX Silver : MCX Silver prices gained by 0.2 percent and closed at 53,317/kg on the Friday after touching high of 54319/kg in last week. Spot Silver prices gained by 0.3 percent. Silver touched high of $28.37 in last week and closed at $27.80.
Silver Support and Resistance -
Support – 52873, 52430, 52152
Resistance – 53594, 53872, 54315
In today's trading session it is expected that appreciation in Indian rupee will help sharp gains in prices in MCX and globally precious metals are expected to trade sideways.