MCX GOLD SILVER TIPS AND TREND

MCX Gold (December) opened at 31666 and Gold continued to rally higher for week and expected to reach level of 32321 and closed near high at 32290 last week. GOLD TREND.  Experts believes that this week MCX Gold prices are expected to find support at 32000 levels and to the next strong support is expected at 31600. Resistance level is expected in the range of 32450 and 32500 and Gold is expected to trade high and can reach resistance levels at 33800 and then to 33000.

MCX Gold Levels for this week

Trend is expected to be upwards

S1-32000, R1- 32450, S2-31600, R2-32800

MCX GOLD TIPS (Week)

Buy MCX Gold December between 32000 and 32050 with stop loss of 31690 with target to be expected around 32500 and 32550.

MCX Silver (December) opened at 61020 and continued to higher rally making high of 63633 and closed near high at 63450 last week. SILVER TREND. Experts believes that this week MCX Silver is expected to find support at 61550 levels and further below strong support is seen at 60000. If Silver trading below 60000 can take prices lower to 59500 and major support is seen at 57400. Resistance levels are expected to seen at 65000 and trading above 65000 would take Silver prices towards strong resistance at 67000 and major resistance at 65750.

MCX Silver Levels for this week

Trend is expected to be upwards

S1-61550, R1-65000, S2- 60000, R2-67000

MCX SILVER TIPS (Week)

Buy MCX Silver December between 61900 and 62000 with stop loss of 60700 and target of 63800 and 64200.

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MCX Gold Silver Tips

MCX Gold December last week opened at 31,502 initially moved higher marginally but found good resistance at 31,616 levels and after that gold prices fell sharply towards 31,041 levels and finally closed lower from previous weeks closing levels. INTRADAY TIPS.  Experts believes that this week MCX Gold December prices are going to find support levels in the range of 30,930 and 30,900 levels and after below strong support is seen in range of 30,690 and 30,600 levels. Resistance is to be found in range of 31,270 and 31,300 levels and trading consistently above 31,310 levels would lead to strong resistance at 31,490 and finally towards major resistance at 31,840 levels.

MCX Gold Levels for this week

S1-30,930, R1-31,280, S2-30,680, R2-31,490

MCX Gold recommendation -

Sell MCX Gold December between 31,270 and 31,300 levels with stop loss of 31,501 and target of 30,950/30,700 levels.

MCX Silver December last week opened at 62,642 levels and initially shown good growth but found resistance at 64,999 levels and later prices fell sharply breaking support levels towards 61,651 levels and closed lower from previous closing weeks levels. Experts believes that next week Silver prices are going to find support in the range of 60,650 and 60,600 levels and trading continuously below 60,600 levels would lead to strong support in the range of 59,500 and 59,450 levels and finally towards major support at 58,400 levels. Resistance levels can be seen in range of 62,800 and 62,900 levels and strong resistance is seen at 63,300 and 63,350 levels.

MCX Silver Levels for this week

S1-60,650, R1-62,800, S2-59,470, R2-63,950

MCX Silver recommendation -

Sell MCX Silver December between 62,800 and 62,900 levels with stop loss of 63,401 and target of 60,700 levels.

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MCX Gold Tips and Trend for Today

MCX Gold October contract trading at 31332 down 135 around 11am. GOLD TREND. The Gold prices touched intraday high 31421.00 and intraday low of 31302.00. In October series Gold prices have moved up 2382.00 so far.

MCX Gold December contract was trading at 31707.00 down 133. It touched intraday high of 31730 and intraday low of 31685. GOLD TIPS. In December series gold prices moved up by 2407.00.

MCX Gold February contract was trading at 32066 down 152 and touched intraday high of 32087 and intraday low of 32055. In February series Gold prices moved up by 871.00.

Experts believes that rally in precious metals is expected. Spot prices increased by 0.5 percent. Positive US economic data also helped in sharp gains in gold prices alongwith weakness in US Dollar index DX. The spot gold touched high of $1.695/oz and closed at $1.700.9/oz in yesterday's trading session.

Sell MCX Gold October contract around 31,480-31,485/10gms with stop loss of 31,580/10gms. Experts are expecting targets on the downside to the levels of 31,300/10gms.

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Gold Trend (February)

Trend : BEARISH
Resistance 2 : 27300, Resistance 1 : 27050, Support 1 : 26600, Support 2 : 26420

Strategy : Sell on Higher Levels

Gold Prices in 2012 !!!