The
volatility may increase in Bullion’s on account of low trading
volume due to upcoming U.S. Holiday. MCX TIPS. During last
three years price of Gold and Silver rose on thanks giving week and
fell back on Friday and if the same pattern continues it is possible
that bullion will rise during first half of this week and fall on
Friday. SILVER TIPS. Euro group summit could also affect the
EURO and can affect Gold and Silver prices. The reports on U.S.
Economy which seems to come soon could also affect the USD and Gold
and Silver Prices.
Gold
ended the week lower at $1714 how ever Gold is still on and above the
long term upward trend line since 2008, which currently comes at
$1642. Experts advice to remain bullish in the market as long as the
market do not break the level of $1670. It is expected that Gold may
restest level of $1796 high.
Silver
closed the week lower at $32.36, support is at $30.65 and resistance
is at $33.01.
MCX GOLD LEVELS FOR TODAY
Support
– 31623.00, 31551.00, 31488.00
Resistance
– 31758.00, 31821.00, 31893.00
MCX SILVER LEVELS FOR TODAY
Support
– 61149.00, 60701.00, 60441.00
Resistance
– 61587.00, 62117.00, 62565.00
MARKET TREND FOR TODAY
Gold
– Movement is up and Risk level is low
Silver
– Movement is up and Risk level is Normal