Tuesday, 23 December 2014

Commodity Market News about Gold and Silver

This morning bullion-gold and silver are trading at $1179 and $15.70 respectively and looks like any pullback should be treated as a strong resistance levels.

The call for the week is to sell at $1205-1207 TP 1182/1167 with SL above 1225. At MCX the call is to sell February at Rs. 27,100-27120 TP 26840/26600 SL above 27,450.

Silver after rising around 9% in past two weeks once again came back to its downward stance wherein the commodity lost more than triple the amount of loss seen in gold in the past week.

The call for Silver in the next week is to sell at $16.17-16.20 TP 15.60-15.40 SL above 16.80. At MCX, for March future we recommend selling at Rs. 37,300-37400 TP 36400-35800 with SL above 38200.

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