MCX Gold Silver Trend For Tomorrow

MCX gold falls on Monday which results in trading in its lowest level in a week but traders are waiting for further price falls to book deals. MCX Gold august delivery was 0.30 percent down at 30,064 rupees/10 grms after hitting a low of 29,975 rupees during the session. Globally gold fell for the first time in previous seven session as risk of Greek exit from the euro zone. Experts believes that traders are not buying as prices are still high and waiting for more correction. India as a biggest buyer of gold is likely to remain sluggish in coming months as wedding season is almost over and arrival of monsoon. MCX Silver is also edging lower following gold. The most traded MCX Silver for July delivery was 0.33 percent lower at 54,360/kg. 

MCX Gold Tips for Coming Week

MCX Gold Tips : At this point MCX Gold is looking good and in the previous weeks it got stuck in a range where it threatened to break 29,000 levels and then again gat back to  28,000 area. With the break of 29,000 level there is possibility of emerging new trend and still would like to see another 100-200 points to gain. In immediate future there is possibility to look MCX gold at Rs 29,500 per 10 gm.