MCX Gold Silver Updates Today: Technical Outlook

Gold Prices erased last day gains and in the evening session, we expect  prices could make gains towards 27650 hold initially for a drift   lower towards 27500/400 region. But a break above 27650 region could call for 27760/ 27840, anyhow major rally only expected  above 28000 region. Alternatively, major weakness is seen only  below 27350 region.

In MCX Silver, day’s bias likely for a choppy session in the range of 54000-42500  levels. Either side breakout would be required to suggest fresh  directional moves.

MCX Silver and Gold New and Updates for Today

Gold and Silver commodities are trading lower on MCX. Silver futures has slipped more than 1% in domestic market amid weakening global trend. European Debt crisis has resulted in an increased demand of precious metals which turned the market sentiments into negative.

MCX Gold (Feb) is currently trading below 27500 after touching a day low of 27416 .

MCX Gold Silver Trend Today and Copper Updates

The effect of strengthening gold and Silver in international market is also being witnessed in in MCX as well. With a gain of more than 1.5% Gold has moves above 27200 while silver is trading around 51150. Precious metals are likely to prevail the momentum in near term.

Also there is a surge in crude oil and copper commodity. Copper Trend is positive and above 404.50 it may test 409 level soon.
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