Precious metals are trading on a weak note, as global
investoRs seem to be flocking to surging equities. With US equities
trading on a firm note, there could be relentless pressure on the
precious metals in the short run. Amongst the pack, silver seems to be more vulnerable as there is substantial deterioration on the charts. Silver
prices are well poised to move lower towards USD 26/ounce. For gold
prices, USD 1,550 seems to be a crucial support level, whereby a breach
of the same can drift the prices towards USD 1,520/ounce.
MCX Gold (June)Price indication: Prices have support at Rs 29,200/10gms and resistance at Rs 29,650/10gms.
MCX Silver (May)Price indication: Prices have support at Rs 49,850/kg and resistance at Rs 53,350/kg
MCX Gold (June)Price indication: Prices have support at Rs 29,200/10gms and resistance at Rs 29,650/10gms.
MCX Silver (May)Price indication: Prices have support at Rs 49,850/kg and resistance at Rs 53,350/kg
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