A slight decline has been seen in Gold and silver commodities in
MCX. Yesterday Gold managed to close above 29450 level and witnessed
a rise of 0.60%. Currently Gold is trading with negative bias and
with slight decline of nearly 0.10%, trading at 29420 level. 29390 is
the nearest support to prevent the downfall. If Gold breaches this
level, we can expect a fall till 29300-29250 level.
Silver witnessed a marginal gain yesterday and closed above
52920. Today, it is trading around 52800, near its immediate support
of 57750 level. The Trend is likely to remain range bound. Traders can
initiate long positions at lower levels.
