Monday, 21 December 2015

Commodity Market Updates on Gold and Silver


Gold prices closed below its immediate support at 24926 levels yesterday. Intraday pullback rallies will meet resistance between 24930—25000 zones. Sustenance below 24740 will see prices correct towards 24583/24451 levels. The counter needs to sustain above 25100 to rebound towards 25260/25300 levels.

Intraday view on silver will remain negative until prices stay below 33500 levels. Until then pullback rallies will face resistance between 33350—33450 zones. Sustenance below 33000 will lead to a major breakdown in the counter towards 32500 levels. A daily close above 33500 will be a positive sign for the counter.

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