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Tuesday, June 7, 2011

MCX Precious Metals and Basemetals Market Analysis And Tips

Gold (August Futures): Buy - 22 700, Stoploss - 22600 and the target - 22 875
 At the Multi Commodity Exchange (MCX), COMDEX is trading up by 2.64 points, or 0.08%, at 3,468.65 after opening at 3,465.06.

Silver continued its upward streak in India for the third straight session Tuesday and rose by Rs 100 to Rs 55,200 per kg on sustained buying by stockists, supported by a firm global trend. However, gold held steady at Rs 22,810 per 10 grams in restricted local buying at prevailing high levels. Trading sentiments remained firm as gold gained on concerns about Europe''s debt crisis and signs that the US economy is slowing, boosting demand for the yellow metal as an alternative investment. MCX Silver Will Reach 60'000 Analyst Said About Technical Analysis....

 Gold in global markets, which normally sets a price trend on the domestic front, gained 75 cents to USD 1,545.40 an ounce in London. Silver also rose by 0.3 per cent to USD 36.90 an ounce. On the domestic front, silver ready rose by Rs 100 to Rs 55,200 per kg. It had gained Rs 1,100 in the previous two sessions.

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