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Thursday, August 2, 2012

Commodity Tips: Gold Silver Trend and Crude Updates for Today

Gold Silver Trend
Weak trading in gold and silver is being seen today. Wth gold at Rs 29660 up by only 0.18 and at a slight fall to trade at Rs 53158, precious metals are trading sluggish in MCX. Declining trend in the international market is also being seen in gold and silver which has checked the momentum in domestic market also.

MCX Gold Silver Tips-
Buy Gold around 29750 levels with a stop loss placed below 29200 levels for targets of 30000-30200  levels.
Buy Silver on dips around 53000 level, target- 53200-53500 SL- 52750.

MCX Crude Oil News
Crude oil trend in the domestic market is weak. It has come down below 5000 and trading near 4980 level. However The U.S. Fed has assured that if weakness in the economy is seen , it will take appropriate steps to recover the same. This statement of federal reserve may support the falling prices. Technically Buying is recommended only above 5000 level.

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