Monday, 23 November 2015

Commodity Market updates on Gold and Silver

Gold could trade range bound to firm as the dollar remains weak. Support is at 1077.9 and 1068.8. Resistance is at 1090.0 and 1100.0. MCX Gold could remain range bound to firm, tracking firm overseas prices. However, the Rupee has appreciated today and could limit gains. Support is at 25200. Resistance is at 25455.


Silver could trade range bound to firm as the dollar remains weak. Key support is at 14.16 and 14.11. Key intraday resistance is at 14.40 and 14.53. MCX Silver could trade range bound to firm, tracking firm overseas prices. Prices still remain oversold and could witness short covering. However, the Rupee has appreciated and could limit gains. Key support is at 33525. Key resistance is at 34445. 

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