Tuesday, 15 December 2015

Commodity Market Updates on Gold and Silver

Gold:
Gold will retrace lower until prices stay below 25525 levels. A decisive break down below 25400 will see Gold prices slip towards next support around 25270 levels. Momentum above 25525 will help the counter rebound towards 25625/25700 levels again. We expect the counter to be range bound for today’s session.

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Silver:
We expect Silver prices to trade weak and move lower towards 33412/33250 levels over the coming sessions. Intraday resistance for the counter is seen between 3416 —34292 areas. Pullback rallies into these zones will find resistance. A daily close above 34300 is required for a reversal in the counter.

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