Weakness
in the rupee against the dollar has supported Gold silver prices in
Domestic MCX market. Today MCX Gold is trading just near 29000 level with
marginal loss on the other hand silver has shown some upside and its
trading above 54150 level.
Since
nearest support level for gold is Rs. 29000 so inability to prevail
above this level for long may fortify the chances of decline in
prices. This may cause prices to currect up to 28800 level.
Bullion
Trading Tips-
Gold-
Sell below Rs. 29000 with a stop loss placed above 29175 levels for
target of Rs. 28800
Silver-
Buy at or above 54150 with a stop loss placed below 53500 levels for
target of Rs. 54800
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