Wednesday, January 16, 2013
Gold Updates Today: MCX Gold Silver Tips
GOLDGUINEA prices on MCX were trading flat. MCX GOLDGUINEA January contract was trading at Rs 24827 up Rs 20, or 0.08%. The GOLDGUINEA rate touched an intraday high of Rs 24850 and an intraday low of Rs 24800. So far 3924 contracts have been traded. GOLDGUINEA prices have moved down Rs 472, or 1.87% in the January series so far. Gold rates were trading higher in major cities in India. In Mumbai market, Standard gold (995 purity) was up Rs 125 at Rs 30955 and pure gold (999 purity) was up Rs 130 at Rs 31095.
MCX Gold Tips:
MCX Gold suggest that prices have given a symmetrical traingle breakout. RSI is in a buy mode. We expect prices to go up to levels of 31100.
Trading Call: Buy MCX Gold only above 30920 levels with a stop loss placed below 30770 levels for targets of 31100 levels.
MCX Silver Tips
Silver suggest that prices have breached the crucial resistance of 59500 levels. RSI is in a buy mode. We expect prices to go up to levels of 60200.
Trading Call: Buy MCX Silver only above 59500 levels with a stop loss placed below 59000 levels for targets of 60200 levels.