Despite a decline seen in Comex Gold Silver prices, precious metals started the trade with positive note in Indian commodity market. However the yellow metal started flat and currently trading near 29685 level while silver is moving relatively faster. MCX Silver is trading near 52120 level up 0.25%.

The trend is still seeking for direction and traders are waiting for some trigger price to confirm the trend.

Technically, Gold may surge above 29750 level and silver can take a leap above 52350 level.

MCX Silver Tips for Today- 

Buy above 29750 for the targets of 29850-29900-39300 and put a stop-loss of 29600

MCX Gold Tips- Buy above 52350, TG- 52500-52750-53000, SL- 52050

MCX July Futures seems to have come out of negative bias and it witnessed some good rallies yesterday. However Today Comex Silver is trading lower in International market which afftected domestic market also. MCXSilver (July Futures) opened today at 53569 and currently trading negative down by 0.19%.

Apart from gblobal cues, technical levels which may affect the trend of silver are as below-
Resistance level- It has immeditae resitance in the range of 53750-53900 breaching through which will upthrust the positiveness.
If this precious metal sustains above 53900 consistanetnly, we can expect prices to touch 55000 soon.
Support level- can be seen near 53000 level braching which may cause silver to crash down to 52500 -52000 level.

MCX gold saw a drop of 0.38% on Tuesday and finally settled at Rs 30201 while silver slipped 0.84% to close at 54461. Today, Comex gold tarted off the day with slight decline while silver is trading with slight edge. silver can be a preferable pick for trading in MCX.

 MCXsilver is currently trading near 54450 level. For an intra-day trade, one can buy Silver above 54750 for the targets of 55000-55200 level. But if it breaches the support level of 54150, it may extend yesterday's losses. 

 On the other hand, Gold is trading at around Rs. 30250. One can Buy MCX Gold above 30250 for the targets of 30350-30400. While below the level of 30150, Traders can go for sell.

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.

Precious metals are witnessing  selling pressure due to decline in international market. Gold price in the domestic market has come below Rs 28,800. Currently gold is trading  near 28760. Silver is trading  around Rs 54,100.


Concern that Europe’s debt crisis will escalate lifted the dollar and decreasing demand has caused Gold prices to fall for a fourth day. Since prices has breached the crucial support level of 28800, so prices may correct upto 28500.


In Silver, Selling is recommended below 53900.

MCX Silver (July futures): Buy - 56 850, stoploss of Rs - 57 050 and the target - 56 450

MCX Gold (June futures): Buy Above 29200, Stoploss- 29050 Target-29500

MCX Crude Oil (May futures): Buy - 5610, stoploss of Rs - 5578 and the target - 5660

MCX Zinc (May futures): Sell - 107, stoploss of Rs - 108  and The Target - 106-105.50

COMEX Silver is in a slightly downward in trend.  Last week COMEX Silver was trading in a range for the whole week. For the upcoming week 2600 and 2400 are the crucial supports and 3800 and 4100 are crucial resistance in COMEX Silver. In
MCX Silver, 62000 and 65000 will act as major resistance and 45000 and 42000 will act as major supports.

Technically COMEX Silver is consolidating on charts. For the next week traders can use buy on lower level strategy if Silver sustains above the level of 3570$ an ounce, then above 3600$ COMEX Silver can test the level of 3660/3720 an ounce. And in MCX Silver sustains above 57200 then it can test the level of 58500/59800, Trade by keeping the
proper stop losses.

 

A sharp decline was seen in Silver earlier which now has been recovered after traders took a buying interest at lower levels. On MCX, December contract of silver commodity is trading above 53150. Now an upside momentum could be seen above 51200 which might last till 53500-53700 for the day. But inability to sustain above 53000 can exert a selling pressure in this precious metal and Silver can slip below 52700 level.

So traders can go for buy above 53200 for the targets of 53350-53500-53700.
 

MCX has been on decline in Gold and Silver. A slight decline of near 0.50% is seen in Gold commodity. Silver is trading more than 1.5% behind its previous close. International gold and silver are also trading in negative zone. For Intra-day the the momentum is slightly negatively biased.
Commodity Gold Silver trading Tips-

Buy Gold near 26650-26750 TG- 26850-26900-27100 also keep a strict Stoploss below 26450

Buy MCX Silver above 53560 TG- 53900-54200.

The present trading set up looks to be bullish towards  54500/56000 or even more, but early attempts to evolve into a rally  targeting the same are expected to face stiff resistance at 53000, which if unsuccessful would diffuse the buying momentum and the  trend looks for a dip lower towards 50700 then towards 49800 levels for the day. However major falls are anticipated only a close below the strong support of 49000. 

MCX Silver has just cleared the crucial resistance of 65500 and now heading towards 66000 mark. If prices moves above 65200 then more upside can be seen and silver can progress to 66500-67000 soon.

As if now traders can go for long in silver at 65750 and wait for 66000-66200.

below 65450 trend may get reversed.