Thursday, September 06, 2012
MCX Gold Silver Trend and Levels
MCX Gold continued its rally and gold yesterday sets all time new high of 31,980/10gms. MCX Gold was setting records for the last two weeks up by 130 to 31,980/10gms.Gold Tips. Experts believes that good buying by traders for upcoming marriage season and also investors moving funds to bullion market from weak equity markets. MCX Gold prices also gets supports from positive global trend as traders were waiting results from European Central Bank meeting related to euro-zone debt crisis results in demand for metal on the safer side. In New York Gold prices rose by 3.60 USD to 1,696.20/ounce.
MCX Silver lost Rs 200 to 60,000/kg as it lacks required support and result in loss in prices while weekly delivery added 170 to 61,950/kg.
Support – 31415, 31363, 31299
Resistance – 31531, 31595, 31647
Support – 61608, 61335, 61045
Resistance – 62171, 62461, 62734