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Tuesday, May 31, 2011

Precious Metals Call Intraday | MCX Technical Market Highlights

MCX Precious Metals Calls Intraday
Silver Buy Above 58280 Stoploss 58180 Target 58450 58550
Gold: Buy -22500, - Stoploss 22450 target -22590

After the initial fall in silver is to get up on.
Amid weak trend overseas, gold continued its yesterday''s slide to trade 0.24 per cent lower in futures trade today.

Also, stronger rupee against the US dollar put some pressure on the precious metal prices at futures trade here.Technical View Of Gold and Silver>>>> Click Here
At the Multi Commodity Exchange, gold for delivery in June declined by Rs 53, or 0.24 per cent to Rs 22,438 per 10 grams, with a business turnover of 1,398 lots. It had ended 0.13 per cent lower at Rs 22,491 per 10 gram in yesterday''s trade.
Likewise, the metal for August delivery lost Rs 36, or 0.16 per cent to Rs 22,708 per 10 grams, with a business volume of 1,156 lots.

Advantage of strong business in foreign markets is to find crude oil. Crude oil have gone up today, on MCX crude oil is trading at 2 per cent growth. NYMEX While the price of crude oil above 102 dollars reached.

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MCX Daily Newsletter 31 May 211 | MCX Technical Analysis Views

GOLD STEADY ON GREECE DEBT FEAR; SHANGHAI MARGIN WEIGHS.
OIL DROPS ON SPECULATION FUEL DEMAND FALTER AS U.S. ECONOMY WEAKENS.
SHANGHAI COPPER FALLS; GLOBAL ECONOMY WORRIES WEIGH.
MOST SPICES TRADE WEAK, TURMERIC FUTURES MOVES MODERATELY UPWARDS.MCX Silver and Gold Technical View Click Here

 The dollar hovered near a two-week low against a basket of currencies.
Gold steady on Greece debt fear.
Brent crude oil fell below $115 a barrel on Monday.
Silver rose as much as 1.3 percent to $38.36.

Gold held steady on Monday, buoyed by the ongoing debt crisis in the euro zone, whilesilver trimmed gains as a hike in margins by the Shanghai Gold Exchange kept sentiment in check. Shanghai copper fell on Monday on technicals, European debt problems and uncertainty about the monetary policies of the United States and China, on track for a 1 percent loss in May.
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