MCX Gold Tips
MCX Gold is trading on a flat note. MCX Gold currently at 31805 level having a strong resistance at 32000 level for today. Also have a crucial support at 31500 level to check. Tips and trend suggest that MCX Gold is trading on consolidate to negative mode but international updates suggest a positive trend in Gold.
In today's trading we expect gold prices to trade with upward bias on the back of stimulus measures announced by the US Federal Reserve on September 13, 2012 to boost the economic growth and bring down unemployment. Further, signs that Euro zone leaders might take steps to contain the debt crisis also added to the positive sentiments.
MCX Gold Tips For Today: We suggest Buy MCX GOLD Oct between 31800 - 31850, SL 31600, Target 32150-32200 level for today
MCX Silver Tips
MCX Silver is also trading at consolidate trend. Today MCX silver is down by more then 330 points and trading at 63945 levels. Technially MCX Silver Tips suggest that MCX Silver has a consolidate trend for today looking to check 63000 level today as its prime support level. MCX Silver has a strong resistance at 64700 level.
We expect Silver prices to trade with upward bias due to announcement of monetary easing by the US Federal Reserve on September 13, 2012 to foster growth in the nation. Additionally weakness in the DX and strength in the base metals is also expected to support the prices on the upside.
