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Gold and Silver are on top in commodity market. Most of the traders are eager to invest in gold and silver. In MCX gold it is trading at 29111 with the loss 42 points in its current contract. In MCX Bullion it is also a good bet to get more profit in short term. Now Silver is trading at 56910 with the loss of 42 points. MCX bullion is looking a positive investment, the reason is the financial problem in Europe has solved now ant they have have planned to channel around 200bn Euros ($267bn) to the International Monetary Fund (IMF) and will agree to the European Central Bank’s demands of tight anti-deficit rules.
For short term
Buy MCX Gold above 29200 to get the target of 29500, SL should be 28950.
MCX Silver (Mar.) Trend: Bullish
Current Level- 56910,
Support2- 55091
Support1- 55714
Resistance1- 57597
Resistance2- 58857
Strategy: Buy on lower levels.
