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MCX Gold
Gold traders are more bullish after central banks expanded their bullion reserves and hedge funds increased bets on a rally for the first time in three weeks. Gold rose for a fourth consecutive session on Friday and posted its biggest weekly gain since late February, as disappointing U.S. growth and European debt jitters boosted investment demand for the precious metal. MCX Gold is trading at 29141 lookinf bullish above 29200. It can test the level of 29350/29500/29650. Trade by keeping the strict stop losses.
MCX Silver
In COMEX Silver ended the week down 1 percent after sliding below $30 an ounce for the first time since mid-January on Wednesday. Prices fell in six of the previous eight weeks. Technically MCX Silver is consolidating on charts. MCX Silver is trading at 56000 levels. For the this week traders can use buy on lower level strategy if Silver sustains above the level of 57200 per kg, and if Silver sustains above 57200 then it can test the level of 58500/59100/59450. Trade by keeping the proper stop losses.
