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Monday, June 13, 2011

MCX Bullion Intraday Call

Sell Silver  53750 Stoploss 54000 Target  53400 53 150

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Market News For Today 
Both the precious metals, silver and gold, fell further Monday on reduced offtake by stockists and jewellers on sluggish demand at prevailing high levels amid a weak global trend.
 While silver fell by Rs 650 to Rs 54,050 per kg, gold shed Rs 40 to Rs 22,645 per 10 grams.
 Silver had lost Rs 1,500 during the previous trading session, while gold declined by Rs 75 on Saturday.
Silver coins followed suit and tumbled by Rs 1,000 to Rs 60,000 for buying and Rs 61,000 for selling of 100 pieces.
 Trading sentiments weakened as gold declined in London after some investors sold the metal to cover losses in other commodity markets and equities.
Gold in global markets, which normally sets a price trend on the domestic front, fell by USD 6.80 to USD 1,524.85 an ounce and silver shed 1.9 per cent to USD 35.48 an ounce.

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