Wednesday, 18 November 2015

Daily Tips & Advice on Commodity Market (Gold and Silver)

Gold was little changed on Tuesday and could remain range bound as lingering caution in the aftermath of the Paris attacks offset the downward impact of a firmer U.S. dollar and weaker demand in major gold buyers. However, prices are oversold and could witness short covering. Key intraday support is at 1072.8. Resistance is at 1090.7. MCX Gold could remain range bound to weak, tracking weak overseas prices. Key intraday support is at 25180. Key intraday resistance is at 25500.

Silver could continue range bound to weak. Key intraday support is at 14.13. Key intraday resistance is at 14.40. MCX Silver could trade range bound to weak, tracking weak overseas prices. However, prices are oversold and could witness short covering. Key intraday support is at 33470. Key intraday resistance is at 33990.

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