Monday, September 03, 2012
MCX Gold Silver Tips for this Week
MCX Gold October last week opened at 30,984 moved lower and found good support at 30,656 levels. Later prices continued to fall towards 31,405 levels and finally closed sharply higher from previous weeks closing levels. Experts believes that next week Gold prices are going to find support at 31,130-31,000 levels and ahead below it strong support is seen at 30,860-30,830 levels and Resistance is observed in the range of 31,600-31,630 levels. Trading above 31,630 levels would lead towards strong resistance at 31,880 levels and finally towards major resistance at 32,200 levels.
Trend - Up
S1-31,130, S2- 30,860, R1 – 31,600, R2 – 31,880
MCX Silver December last week opened at 59,700 land moved lower but find good support at 58,601 levels. Later prices sharply moved towards 61,170 levels and finally closed higher from previous weeks levels. Experts believes that next week Silver prices are going to find support in range of 60,240-60,200 levels and then strong support is seen in range of 59,300 and 59,250 levels. Resistance is seen in the range of 61,880-61,940 range and trading consistently above 61,940 levels would results in towards strong resistance at 62,800 levels and to major resistance at 63,400 levels.
MCX Silver Levels for this Week -
Trend – Up
S1 – 60,240, S2 – 59,300, R1 – 61,880, R2 – 62,800