Thursday, October 18, 2012

MCX Gold Silver Target for Today

MCX Gold gained 0.3 percent by taking tracing movements of spot gold firmness. INTRADAY TARGET.  Gold prices also gained due to demand from buyers as festive season is on. MCX Gold prices touched a high of 31163/10gms and closed at 31140/10gms in yesterday's trading session. Globally Gold prices gained 0.1 percent following strong economic data from US economy. Weakness in dollar index DX also resulted in gains of gold prices. It touched high of $1,753.20/ounce and closed at $1749.69/ounce.

MCX Gold Levels for Today

Support – 31066, 30992, 30944
Resistance – 31188, 31236, 31310

MCX Silver prices gained 0.9 percent following silver prices globally. MCX Silver prices touched intraday high of 60,640/kg and ended at 60,574/kg in yesterday's trading session. Global silver prices ended 0.7 percent taking cues from spot gold. Weakness in DX also supported upside in Silver prices on Wednesday. It touched a high of $33.25 per ounce and closed at $33.16/ounce in yesterday's trading session.

MCX Silver Levels for Today

Support – 60209, 59844, 59629
Resistance – 60789, 61004, 61369


MCX Gold and Silver prices are expected to remain firm today with demand from buyers during festive season and depreciation in Indian rupee. 

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