Gold
and Silver have
recovered strongly
after a
decline.
While last week gold fell by 7%. while silver was broken to 10.5%.
However, due to increased demand, gold and silver have
been returned buying.
Gold - Silver is receiving support from weakness of the rupee against
the dollar.
Currently
MCX gold with jumped 1.5% is trading above Rs 26,400. Silver with a
gain of 1% is trading above Rs 43 900. Comex gold 2.% and silver gained 2.5%. NYMEX crude oil has reached $ 89.
MCX crude oil is trading around Rs 4,830 with a gain of 1 %. However
MCX natural gas is trading below Rs 234 with weakness of nearly 1%.
MCX
Gold June futures Sell - 26400, stoploss - 26600 and the target - 26
050
MCX
Crude Oil May futures Sell - 4840, stoploss - 4880 and target –
4760.
