Posted by : Niti Mathur
On Domestic market Gold has shown its strength on Monday. Gold futures pushed higher for a last session on Monday, proceeding a bounce back from close to three-year lows as some saw the metal's droop as a great purchasing chance. The most actively exchanged contract, for August was as of late up $12.70, or 1%, at $1,236.40 a troy ounce on the COMEX division of the New York Mercantile Exchange
MCX Gold Tips
The current trend for MCX gold futures is looking weak on technical charts even after last bullish session. Traders are sell their current position. We think that gold may see a down side again. Intraday traders can sell MCX gold for today. MCX Gold has strong resistance level at 26150, 26385 and 26560. While support levels are looking in range of 25820-25620-25450. MCX Gold Tips: For today we suggest to sell MCX Gold on 26150 for the target of 25800 level with SL above 26280.
MCX Silver Tips
Mcx Silver Sep. futures contract is looking frail on outline, day traders can Sell Silver on higher levels. Major Support is seen in extent of 40700, 40200 and 39600 levels. While significant support is seen near to 41700, 42400 and 43100 levels. MCX Silver Tips: Day traders can Sell Silver on 41700 level for Target of 40700 and 40200 with stop loss at 42400