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Gold in the domestic market - concern is dull silver. Gold and silver in the international market is improving. Greece to approve a bailout from the international market, gold is up. Despite weakness in the rupee against the dollar on MCX Gold remains sluggish. The latest inflation figures as well as in China are very good. Lower levels of inflation in China has slipped 20 months. Investor confidence resulting gold - silver is showing returns. MCX gold is trading at Rs 27984 with idling. At the MCX, silver has been grossly Rs 59123.
Initial slowdown in the domestic market in gold is intact, although there is still gold to Rs 28,000. Now with the initially ended at Rs 58 866 in the silver business is slow. Comaks on the bed - it has seen a slowdown in silver.
Here are Intraday Strategies for Traders-
Commodity | Strategy | Levels | Target 1 | Target 2 | Stop-Loss | Trend* |
MCX Gold (Apr) | Buy | above 28060 | 28130 | 28300 | 27960 | Sideways |
MCX Silver (May) | Buy | Above 59070 | 59400 | 59840 | 58600 | Sideways |
MCX Crude (Mar) | Buy | Above 5345 | 5400 | 5440 | 5310 | Sideways |
MCX Copper (Apr) | Buy | 424-426 | 430 | 435 | 420 | Sideways |