Monday, 7 December 2015

Gold and Silver Commodity Market Updates

Gold prices managed to rebound from its intraday lows at 24926 levels yesterday. The counter needs to trade above 25360 to rebound towards resistance zones between 25500—25550 levels. Failure to trade above this level will see prices retrace towards 25000—24900 zones again. A near term reversal will fall in place once prices close above 25550 on a daily closing basis.

Silver prices recovered from its intraday lows at 33753 and closed with a gain of 0.62% yesterday. The counter needs to decisively breakout above 34580 to rebound towards 34900/35050 levels. Weakness at higher levels can be sold into by traders. Support is seen between 33940—33750 zones.
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