Tuesday, 10 March 2015

Gold and Silver Rates For Today

Gold prices broke down during the last session of the previous week. The selling pressure increased once prices broke below its support at 26300 levels. Immediate and crucial support for the counter is now at 25950 and we expect the counter to test this support as the session progresses. Sustenance below 25950 will see prices correct further towards 25800 levels. Intraday pullback rallies are likely to fizzle out as prices approach 26120—26150 zones. Any major pullback will be seen only if prices close above 26200 levels.

Silver have pulled back from its lows at 35838 levels. Sustenance above 36000 will see prices pullback a bit more towards 36210—36250 areas. Selling can be seen at higher levels which will again drag prices lower below 36000 levels. On a broader note, the outlook for silver will remain negative until prices stay below 36550 levels. Counter can head lower towards next support at 35700 levels.

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