MCX Gold Silver Trend and Trading Levels for Today

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MCX Gold Silver Trend and Trading Levels for Today

Post  sandeep06 on Fri Aug 03, 2012 4:30 am

GOLD (OCT): Gold rose 0.2 per cent to USD 1,602.85 an ounce in London. Gold prices rose by Rs 74 to Rs 29,681 per 10 grams in futures trade as speculators created fresh positions, tracking a firm trend in overseas markets.
At the Multi Commodity Exchange, gold for delivery in August rose by Rs 74, or 0.25 per cent to Rs 29,681 per 10 grams in business turnover of 341 lots.
Similarly, the metal for delivery in October declined by Rs 34, or 0.11 per cent, to Rs 30,048 per 10 grams in business volume of 7,633 lots. Resistance and support levels for the today’s session for Gold OCT contract 2012 are:

SUP1: 29895
SUP2: 29735
RESIST1: 30123
RESIST2: 30280

SILVER (SEP): Silver futures traded 2% lower Thursday, with a final bid of $26.99 per ounce. Thursday’s high for silver reached $27.78, and the low was $26.88. Silver fell Thursday amid news that Mario Draghi and the European Central Bank aren’t going to take immediate action to push growth and rejuvenate the wallowing euro zone. Silver is Expected resistance and support levels for today trade are as follows.
SUP1: 52760
SUP2: 52585
RESIST1: 53480
RESIST2: 53700


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