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