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Wednesday, June 6, 2012

MCX Gold Silver Trend and Copper Tips for Today

The positiveness in the international market has supported Gold and Silver prices in domestic market also.

As anticipated, Silver has surged sharply and witnessed a gain of more than 2%. Currently Silver (July) is trading above 55500 level. Gold has reached above 30200 mark, up by nearly 1%.

Crude oil seems to have recovered the bullish trend and its June futures has gained more than 1.20% on MCX. Despite rupee strengthening against dollar, these commodities are doing well on the exchange.

Copper has also breached the resistance level of 411.50 and now the prices are expected to reach 416-419 soon.

MCX Gold (August futures): Buy - 30300, stop-loss of Rs - 30220 and the target – 30450-500

Sell below 30150 TG- 29950-29900

MCX Silver (July futures): Buy - 55550, stop-loss of Rs - 54200 and the target - 55800-56200

MCX Copper (June futures): Buy - 412.50, stop-loss of Rs - 409.50 TG-414.50-416.50
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