MCX Gold Silver Tips for Today

Bullion metals had to undergo profit booking today after yesterday's rise and started recovering thereafter. Now silver is trading above 53500 level and we can expect this momentum to extend till 53650-53750 level if it successfully sustains above 53550 with volume. However inability to maintain 53500 can invite lower levels again.

Day traders are advised to long silver above 53550 for the targets of 53700-53750-53900.

Major upside is expected above 54100 level.

One the other hand, MCX Gold is also trading above 29800 level and as long as prices remain above 29800, we can expect a bullish momentum towards 29900-29950 level.  

MCX Gold & Silver Trend for Today

MCX Gold prices have touched the record level and crossed 30400 level. However Comex Gold is trading 15% below its record level. Weakness in rupee against the dollar has supported gold prices in MCX. Also, HSBC's prediction that International Gold prices may reach upto $1900 by the end of this year has initiated  a positiveness in the market. Silver has also crossed 55000 level and with a gain of more than 0.30%, its trading at 55100 level. One can buy silver for the target of 55500.

MCX Gold Silver Trend Today and Trading Strategy

MCX Gold Trend

MCX Gold June contract opened negative today and we might see bearish trend again which we are witnessing at the current moment. Simmering selling sentiments could succeed only with concrete trades below 28420 region, Else hold the same to activate a short covering mode to test upside levels of 28580/28650 or even higher. But break below 28400 region may strew further selling pressure Towards 28340/190.

MCX Silver Tips- 

As long as prices stays below 54800 likely to drag prices lower towards 54100 initially followed by 54000 or even more later. Prices have to close above 56600 to negate our bearish sentiments and reverse the momentum

Commodity Trading Tips: Gold Silver Updates

A sharp decline has been seen in commodity markets. Crude oil, gold, silver and base metals have fallen  significantly. Projected demand decreases the price of crude oil in the international market and it has  declined to lower levels of 4 months. Crude oil price is projected to fall to $90/ barrel . Crude oil slipped 1.5 per cent to trade near Rs 5190 on MCX.

MCX Silver and Gold prices have  also suffered the decline phase. Silver is trading near its support zone of 56000-56900 which if breaches, we can expect further  downfall in MCX Silver.

Traders can sell Silver for Intraday trading.

MCX Bullion Trading Tips and Market Analysis Report For Today

Today Decline in gold. On MCX gold is trading down 0.25 percent While on MCX gold prices are still up to Rs 29,000 and silver is increasingly being viewed. Silver has bullish trend in the international market. on COMEX Silver is at 34.50 dollars per ounce with 0.2 per cent level is reached. Silver on MCX looking and expressions in the small edge is around Rs 58,000.
on MCX Copper is trading at Rs 390.50 up With 0.75 percent .on MCX crude oil is seen Mild surge and price remains above Rs 5,000.
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