Today, Gold and Silver prices are expected to trade in a sideways bias, and will take cues from a stronger dollar and choppy sentiments in the global markets. Gold prices are witnessed a bounce from the support level of 27610 till 27767, but closed below 27610 which indicated some selling pressure till 27510 – 460. Silver is also expected to take cues from movement of the base metals. Whereas, Silver prices are witnessing selling pressure around 52210 - 52410, prices are likely to test 51110 – 51010 on lower end. Traders are advised to sell Silver on rise around 52410.
Technical Levels for Today
Unit Support Resistance
Spot Gold $/oz 1606/1595 1623/1633
MCX Gold (Feb) Rs/10 gms 27510/27432 27716/27844
Spot Silver $/oz 28.95/28.55 29.34/29.65
MCX Silver (Mar) Rs/kg 51365/50974 52148/52544
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