Gold and Silver Updates: Crude Oil Trend

In the International market Gold and silver is looking sluggish. On Comex gold is trading closer to $ 1664, while silver is trading flat. But prices are still above $ 30. On Wednesday, Gold in the Domestic market closed with nearly 1/2% decline around Rs 27,473, while Silver closed with a lead of 1/2% around Rs 53,474.
In the International market Crude Oil is trading in a bullish trend. On Nymex Crude Oil is trading with a rise of 1% above $ 101.

Gold and Silver Outlook: MCX Bullion Tips

Gold and Silver in the international market has rised strongly. On Comex Gold is trading with nearly 1.5% faster around $ 1653, while silver gained 2% and is trading above $ 30. In the Domestic Market Gold was closed with slight decline around Rs 27,500 on Monday, while Silver was closed with nearly 1/2% gain around Rs 52,350.

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.

Gold Silver Updates: MCX Bullion Tips

Gold (FEB): Trend - Consolidate
Resistance2 - 28010, Resistance1 - 27810, Support1 - 27450, Support2 - 27280
Strategy - Sell on higher Levels.

Silver (MARCH): Trend - Consolidate
Resistance2 - 54800, Resistance1 - 53900, Support1 - 51400, Support2 - 50300
Strategy - Sell on higher Levels.

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

MCX Commodity Tips Updates for Today

• Gold prices settled moderately lower, with thin volumes reported in International markets on account of Thanksgiving holiday in US. 

• Gold prices are expected to trade range bound today, due to an abbreviated U.S. trading session following Thanksgiving holiday.

• LME base metals ended mixed, suppressed by prevailing economic uncertainty in Europe and US.

• US Crude oil futures registered losses, as economic concerns in Europe and US front overshadowed the decline in US crude oil stocks. The energy prices have a limited downside, as the complex is supported by emanating geopolitical tensions regarding Iran’s nuclear power ambitions.