Wednesday, 16 December 2015

Commodity Market Updates on Gold and Silver

Gold prices are trading below its immediate support around 25300 levels. Prices can weaken towards 25190/25144 levels from here on. A daily close below 25150 will see prices re-test its recent swing lows at 24926 levels. Counter needs to breakout above 25320 levels to rebound towards 25450 areas again.

The outlook for silver will remain weak until prices trade below 33800 levels. Sustenance below 33380 will push prices lower towards 33150 levels. A sharp bounce cannot be ruled out in case prices test this support. Momentum above 33800 will help the counter rebound towards 34050/34200 zones.
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