Gold Silver Trend: MCX Bullion Outlook

Gold
Today, Gold prices are witnessed with a gap up opening, the prices are expected to test 28245 - 28295, traders are advised to buy Gold on dips around 28095 - 28065. 
Gold (Feb): Support- 27695 - 27995
Resistance: 28145 - 28345.

Silver
Today, Silver prices are expected to test 57495 – 57995 on higher end, traders are advised to enter with a long position around 56795 – 56895.
Silver (Mar): Support- 54800 - 56500
Resistance: 57490 - 58695.

MCX Bullion Tips: Gold and Silver Outlook

Today, Gold and Silver prices are expected to trade lower, as worries with respect to Greece rise and this could lead to risk aversion in the global markets. Yesterday on MCX, Gold (February) rose around 0.21% and touched intra-day high of Rs 27,593 and closed at Rs27,510, whereas on MCX, Silver (March) rose around 1.31% and touched intra-day high of Rs56,489.

Technical Levels for Today
                                   Unit          Support        Resistance
Spot Gold                  $/oz           666/1653          1678/1691
MCX Gold (Feb’12)   Rs/10 gms  27413/27309    27610/27710
Spot Silver                $/oz            31.76/31.23      32.57/33.09
MCX Silver (Mar'12)  Rs/kg        55034/54449     55869/56289

Gold Silver Updates: MCX Bullion Tips

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

MCX Gold Trend for This Week (09-13th January, '12)

COMEX Gold is in a technically consolidating on charts for short term. Last week COMEX Gold was trading on higher side and was able to made a close above 1600$ an ounce. In this week 1500$ will act as a major support in COMEX Gold and 1740$ will act as a major resistance.

Resistance: 1670 - 1643
Support: 1578 - 1539

STRATEGY
For this week traders can use buy on lower level strategy if COMEX Gold sustains above 1620 $ an ounce, then  above 1640 $ it can test the level of 1660$/1680$/1705$ $ an ounce. And in MCX Gold above 28000 it can test the level of 28150/28300. Trade by keeping the strict stop losses.

• Major support for COMEX Gold in the coming week is 1505$ and 1460$.

• Major resistance for COMEX Gold in the coming week is 1710$ and 1790$.

• Major support in MCX Gold is 25500 and 24000.

• Major resistance in MCX Gold is 28700 and 29500.

Gold Silver Technical Updates

Today, Gold and silver is expected to trade in a sideways and will take cues from a stronger dollar in the global markets. Silver will also take cues from downside in base metals.
Support for Gold: 27601-27485-27391.
Resistance for Gold 28013-28105-28466

Support for Silver: 52110-51701.
Resistance for Silver: 53640-54960-55001-55505.

MCX Commodity Tips for Today: Gold Silver Crude Updates

In the previous trading session, Gold futures traded in a narrow range before closing in negative, as investors pared their holdings of the precious metal due to year-end liquidations. Today, Gold prices as expected to trade within the range from 27510 - 27910. Traders are advised to buy on dips and sell on rise.
Gold (Feb): Support 27460 - 27710, Resistance 27830 - 28010.

Silver prices are trading in a narrow range, traders can expect prices to test 53410 – 510 on higher end. 52310 level is a good support for the day.
Silver (Mar): Support 51810 - 52810, Resistance 53410 - 54310.

Crude oil futures continued their positive movements, encouraged by a weaker US dollar and higher Asian stock markets, but faced strong resistance closer to the $100 per barrel level. Today, Crude prices are looking positive, traders are advised to buy Crude Oil around 5262 with a strict stop loss below 5212 for the target of 5322 - 5337.
Crude Oil (Jan): Support 5202 - 5262, Resistance 5302 - 5367.

MCX Bullion Tips: Gold Silver Trend

Today morning gold prices at Globex platform is seen trading at $1612.90 slightly higher than the previous close. It is imperative to say that international markets are likely to stay off until next Tuesday owing Christmas holiday. Gold market is expected to stay stable for the day. Any further improvement on the economic data should pull gold to correct.
MCX Gold (February) Trend: Consolidate
Resistance2- 28230, Resistance1- 27960, Support1- 27375, Support2- 27120
Strategy: Buy on Lower Levels

Today morning Silver prices are seen trading at $29.22 marginally higher from its previous close. Taking cues from US equities today Asian equities are also trading higher and that is supporting silver prices to trade on a positive note. Silver prices might recover a tad.
MCX Silver (March) Trend: Consolidate
Resistance2- 54700, Resistance1- 53500, Support1- 51050, Support2- 50200
Strategy: Buy on Lower Levels