Friday, June 22, 2012

Gold Silver Updates and MCX Tips

MCX Gold Updates
Gold is trading in down trend. After getting 30000 levels gold has got 29000's levels first time in this month. Expiry of the augest contract may be the reason for this downfall. Gold is trading at 29787 now. It is looking more downwards in coming 2-3 days of trading. MCX Gold has a strong support at 29500 and a critical resistance at 30100.

MCX Gold Tips: We suggest to sell mcx gold at higher levels.

MCX Silver Updates
MCX silver is also looking in the same bearish mode. MCX silver has break the limited rang bond of 53000-54500 first time in this month. It is trading in 52000's levels now. Technical reports suggest that it is not a good time to enter in market with fresh position. Although market sentiments indicates that silver will move more downward. Support: 51700, Resistance: 53600.

MCX Silver Tips: Silver is having a down trend so we suggest not to make fresh position in MCX Silver.