MCX Silver Tips & Trend For Today

MCX Silver Tips : Sell Silver mini between 52600 and 52620 with target of 52400 and target of 52000 with stop loss of 52750

MCX Silver (Sep) Support and Resistance

S1 – 52100, S2 – 51600, S3 – 51050

R1 – 53200, R2 – 53650, R3 – 54100

Yesterday there was a steady trend for precious metals there was little movement in spot Gold, Spot Silver moved slightly up and closed at 1588$ and 27.34 respectively. Due to weak US jobs data, investors chose to stay calm awaiting for fresh results. Unsuitability in global economic growth and concerns over Euro debt crisis is affecting the market pace as efforts are going on to get good results.

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Gold Silver Live Rate, Support & Resistance For Today

Gold -

R4 – 30132.1, R3 – 30038.5, R2 – 3004.5, R1 – 29982.1

PP – 29839.7, S1 – 29750.1, S2 – 29727.8, S3 – 29693.9, S4 – 29600.7

Buy Gold only above 30038.5 with Stop Loss of 297.50

Silver -

R4 – 356528.1 , R3 – 55651.8 , R2 – 55333.4 , R1 – 55123.9

PP – 53980, S1 – 53852.2 , S2 – 53643.5 , S3 – 53326.5 , S4 – 53326.5

Buy above 55651.8 with Stop Loss of 53852.2

Gold Silver Live Rate

Gold (5 June) – Rs 2980.00/10 gms

Silver (5 July) – Rs 54134.00/kg

Gold edged lower on Monday after posting its biggest rally in more than three years in the previous session, when dismal U.S. jobs data fulled speculation about further monetary easing and burnished gold's appeal as a hedge against inflation. The surprisingly weak U.S. employment data added to the gloom over the global economy, just as the euro zone appears to be sinking deeper into the debt crisis and China's growth slows. Gold broke ranks with riskier assets on Friday and rose 4 percent , propped up by rekindled expectations of further monetary easing by the U.S. Federal Reserve. 

Gold and Silver Support and Resistance For Today

Gold -

R3 – 29225.67, R2 – 29140.33, R1 - 29052.67 , PP - 28967.33 ,

S1 – 28879.67, S2 - 28794.33 , S3 - 28706.67

Silver -

R3 - 55276.33 , R2 - 55071.67 , R1 - 54711.33 , PP - 54506.67 ,

S1 - 54146.33 , S2 - 53941.67 , S3 - 53581.33

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Experts believe that Gold is going to outperform other precious metals (Mainly Silver) this year and also believes that gold may face some near term downside risk should the unstable outlook in Europe lead to more strength in the U.S. Dollar. Spot gold again closed lower and is set for its worst run of monthly losses since 1999, as concern over Europe’s fiscal turmoil continues push Euro lower & boosting dollar's demand.

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