Amid various up and down movement of trend lines, bullion metals are moving in directionless manner. Gold after travelling in green belt initially, has slipped down below crucial level of Rs. 30000 and currently trading around 29950 level. It is providing the day traders with an opportunity to buy on lower levels. MCX Silver has also declined by 0.30% and has come down below 55000 level. Silver If does not hold the level of 54800, it may further decline to 54500-54300 level while staying above 55000 would fortify the bullish trend.
MCX Gold (August futures): Buy - 29900, stoploss of Rs - 29800 and target - 30150-30250
MCX Silver (July Futures): Buy 54900 TG- 55200-55500, Stoploss- 54750
