Since Comex Gold and Silver has
declined sharply today, prices are expected to decline in domestic
market also. Comex Gold has slipped nearly 1.5% while silver on
international market has dropped around 1.4%.
On MCX, Gold silver prices started the
day with downside. Gold prices could not hold its recent gains and
the same happened with MCX Silver also. Traders and investors of
precious metals are adopting wait
and watch policy, trying to
assess what policy
measures European officials will come up with.
Technically Selling pressure could be
seen in Gold and Silver commodities. As long as Gold prices hold
above 29900 we can not expect severe downfall in this metal. A trade
above 29100 can bring a buying spark in the market.
In MCX Silver, go for buy buy on dips
strategy.
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