Friday, August 10, 2012

MCX Gold and Silver Tips For Today

MCX Gold prices followed the spot gold trend and settled around 0.2 percent higher yesterday. The main factor for sharp gain in MCX gold prices was appreciation in Indian Rupee. On Thursday Gold prices touched intraday high of 29980/10gms and closed at 29967/10gms. Spot Gold prices traded firmly due to positive sentiment that bankers might take possible steps for good economy trend. Strength in DX also helped spot gold prices to sharp gains. Yesterday Gold touched intraday high of $1618.11/oz and closed at $1617.09/oz.
MCX Gold (Oct) Levels For Today -
Support – 29900, 29800
Resistance – 30020, 30080
Spot Gold Levels -
Support – 1609, 1604
Resistance – 1616, 1619
MCX Silver prices were restricted due to appreciation in the Indian rupee. MCX Silver also traced spot silver prices and ended 0.2 percent higher yesterday. MCX Silver touched intraday high of 53,608/kg and closed at 53512/kg in yesterday's trading session. Spot Silver also traded firmly tracing strength in gold prices. Strength in DX also results in sharp gains in spot silver prices. Yesterday spot silver touched intraday high of $21.8/oz and steeled at $28.03/oz.
MCX Silver (Sept) Levels For Today -
Support – 53300, 53100
Resistance – 53650, 53800
Spot Silver Levels -
Support – 27.87, 27.76
Resistance – 28.05, 28.13