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Wednesday, May 23, 2012

MCX Gold Silver trend and Crude Updates

A sharp decline has been seen in NYMAX crude prices an affect of which can be seen in domestic market also. International crude oil is trading near $91/barrel. This decline along with the weaker rupee can cause a bearish trend in MCX crude oil. Prices have strated goin down and breaching the level of 5090 can further push the prices to 5050-5000 level.

Bullion metals are also in downside. Silver is trading below 54000 mark and traders can sell mcx silver below 53850.

MCX Gold is currently trading above 29000 level. The trend of Gold is still negative.
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