Wednesday, 24 December 2014

Commodity Market News about Gold and Silver

Gold prices can correct further towards 26600/26550 levels if prices sustain below 26850 on pullback rallies. Thus, intraday pullbacks and weakness from around 26850 will give and intraday shorting opportunity for traders. Prices will continue to trade on a weak note until prices stay below 27000 levels. We expect a range of 26900 to 26550 for the session.

Silver prices have broken below its key supports at 36500 and 36200 levels. Sustenance below these levels will see prices enter a corrective phase which can see the counter test 35800. Failure to find support at 35800 will see prices correct further towards 35500. The overall view will remain negative until prices continue to trade below 37200 levels.

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