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Friday, July 27, 2012

Bullion Trend: MCX Silver Tips, Gold Trend Today

Bullion commodities may see some upside today. After initial decline seen in international market, Comex Gold and Silver have started gripping the positiveness again. As an result, ,MCX silver is trading up in domestic market. However recovery in COMEX futures is not helping gold prices on MCX and Gold is trading down slightly as the rupee appreciated more than 1% against the US dollar.

Day traders can initiate buy above 53300 for the targets of 53500-53650 levels. If Silver breaches 53750 today, we can expect a rally towards 54000-54500. A direct fall below 53200 may cause decline down to 53000 again.

Commodity Tips for Today-

Buy Gold above 53300 TG-53500-53650

Buy Copper Above 421.20 TG-424.00 Stoploss- 418.70
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