Precious metals are likely to trade with positive bias. However international market has seen a weak opening in bullion metals.

Nymex Crude has slipped nearly 0.755 so domestic market may run negative on this concern. So below the level of 4600, Crude may decline to 4550 level but a trade above 4655 can invite positive momentum also.

Base metals are trading higher today. Leads, Zinc nickel and copper has started off the day with green mark. Copper is expected to trade sideways with positive bias Breaching the resistance level of 414.50 can bring prices up to 416-418 level.

MCX Tips for Today-

Buy Silver Above 55150 TG- 55350-55500-55800 Stoploss below 54900

Gold and Silver have seen a slight decline in international market. Comex Gold and Silver are trading near $1592 and $28.4 per ounce respectively.

In domestic market, MCX Gold opened with positive note while Silver started the day with red mark. However trend of bullion metals is likely to remain sideways to positive so we can expect prices to go up also.

Technical charts suggests resistance for Silver near 54850 level and above this level it may go up to 55300-55500 level. 54350 is the crucial intraday level for downside.

MCX Gold, if manages to stay above 29850 consistently, it may touch 29900-30000 level. 29650 is the stiff resistance level for downside.

Last week MCX Silver closed at Rs 29548 with marginal decline and Silver also witnessed marginal decline to close at Rs 54191.

The bullion market has started the first day of week with positiveness. Comex Gold Silver are trading up nearly 0.50% and 1% respectively as an effect, domestic market also opened with positive note. Gold is trading above 29600 level and it may target 29750-29900 level today while silver is heading towards 55000 level if it manages to prevail 54600 level.

Silver seems to have immediate Resistance near 55000 level and support at 54350. Any trade beyond either side would decide the intraday trend of this precious metal.

Bullion metals could not extend the bullish trend seen on Wednesday and prices witnessed a sharp decline today. MCX Gold has shattered 1.5% from the high it made yesterday. Sstrengthening of the rupee against the dollar and weaker trading seen in the international market has affected the Gold Silver prices in domestic market also, MCX Gold has come down below 30000 level and now trading near 29850 after declining 0.70% while silver has lost nearly 1% and it is trading near 55300 level.

Support for Silver could be sensed at 55000 level. Below this level we can expect silver prices to stumble further to 54600-54300 level.

Traders can initiate short selling in Silver today and the in Gold Buy on decline strategy can be adopted.

Gold futures prices have touched a record high today. It August contract touched a high of 30295 and currently trading near 30250, up by 0.80%. Bullion metals have witnessed upside in international market also. COMEX gold is trading up by about $15.

Traders can go for buy on lower level strategy in MCX Gold.

MCX Silver after yesterday's sluggish trade, now riding the bull today. It has crossed the level of 55500 and currently heading towards 56000 level.

The strong global cues like strong opening of Gold and silver in international market can support the bullion prices in MCX also. The market has shown a positive opening and precious metal started off the day with positive note. Gold (August) futures can go above 30,000 mark. Silver is also trading up 0.47% its July contract is likely to touch 543500-54600 level if it consistently trades above 54000 level.

To know more about silver and Gold trading alerts your can visit Gold Tips and Silver Tips pages separately.

Despite the speculations that market will rebound in coming few days, Bullion metals are facing selling pressure in Both domestic and international markets. MCX gold is currently trading below 28950. Intraday traders can buy MCX Gold around 28750 (On Dips) for the targets of 28850-950-29100.

Silver has decline nearly 1% and heading towards 53200-53000 level. Crucial support for MCX Silver (July Futures) can be seen near 53150-53000 level. However, if Silver trades above 54500 consistently, the bullish trend can be seen again.