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Wednesday, June 1, 2011

Why Gold and Silver Decline 1.30 % Today | Silver 65000 this Week..

MCX Silver Call Intraday 
Buy Silver Above 57200 Stoploss 57000 target 57350 57450 57500

Have seen sharp fall in silver today. MCX silver at about 1.30 per cent decline in business is. While gold has also declined by half per cent.MCX Silver Live Rates and Chart Analysis

Silver prices softened by 0.80% to Rs 58,200 per kg in futures trading today after speculators reduced their positions, tracking weak global markets, reports PTI.

At the Multi Commodity Exchange, silver for delivery in September declined by Rs 472, or 0.80% to Rs 58,200 per kg, with a business turnover of 39 lots.

Similarly, the white metal for delivery in July fell by Rs 452 or 0.78% to Rs 57,467 per kg in 1,127 lots.

Analysts attributed the decline in silver futures prices to reducing of positions by speculators, taking cues from weak global markets. Meanwhile, in the Asian region, silver traded 1.22% lower at USD 38 an ounce.
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MCX Commodity Daily News Letter 1 June 2011 | Gold and Silver Tips

GOLD STEADIES NEAR 4-WEEK HIGH; GREECE IN FOCUS.
OIL GAINS FOR SECOND DAY ON KEYSTONE PIPELINE, U.S. CONSUMER CONFIDENCE.
COPPER HITS FOUR-WEEK HIGH AS EURO GAINS.
DOMESTIC OIL SEED AND EDIBLE OIL EDGE UP.   
Technical Views of Gold and Silver Click Here
Gold holds near 4-week high.
Silver set for worst monthly slide since 2008.
Drop in the dollar against the euro.
Oil jumped by more than $2 on Tuesday.
Copper hits four-week high.
LME aluminium stocks fell 3,525 tonnes.
Gold steadied around its highest in nearly four weeks on Tuesday, but surrendered earlier gains after a report that Germany could smooth the way for Greece to get a bailout. Copper rallied to a four-week high on Tuesday, supported by a firmer euro after expectations mounted that a second aid package for Greece would get the go-ahead and after a series of poor U.S. data.
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