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MCX GOLD & SILVER TIPS 5 august
Buy Gold Above 24164 SL. 24070 TGT 24220/24300/24370
Sell Below 23970 Sl. 24040 TGT 23910/23884/23724.
Buy Silver above 59010 SL. 58600 TGT 59480/59800/60200
Sell Below 57250 TGT 56680/56040/54400
Base Metal Updates
Prices are trading with mild weak bias. However any trades above 114.70 prices likely to rally upside towards 115.50 and later test the level of 116.20. A direct fall below 112.50 may drag prices to 111.
Base metals are expected to remain under pressure on account of global economic concerns and its impact on demand for commodities. Dollar strength will also be negative for base metals as a stronger dollar makes dollar denominated commodities look unattractive for holders of other commodities
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