Impact of the sharp fall in gold and silver in international market has also convayed in domestic market also. MCX gold is trading slightly lower at Rs 28400. Silver fell by 0.5 per cent and the price has come close to Rs 54200. However in LME, gold and silver continues falling. Comaks about 0.50 per cent with the gold is down by 0.50% in COMEX is trading at $1587, while silver was down 1%. Gold in the domestic market on Thursday with nearly 1% to Rs 28433, while silver dropped 1.10%.
In Current market scnerio we suggest to make a short position in gold and silver.
Here are intraday trading suggestion for Gold, Silver and Crude-
MCX Silver (July futures): Sell - 53800, stoploss of Rs - 54320 and the target - 52900
MCX gold (June futures): Sell - 28300, stoploss of Rs - 28430 and the target - 28050
MCX Crude Oil (May futures): Sell - 5160, stoploss of Rs - 5220 and the target - 5000
