Mcx Tips Today:
- Gold futures climbed for the first time in four sessions
- Silver futures for May delivery climbed less than 0.1 percent
- Natural gas futures jumped to a five-week high
- Crude oil closed at the lowest this year
Lead and zinc
fell in London as China’s efforts to cool property prices fueled concerns that
growth may slow in the world’s biggest
metals consumer. Gold futures climbed for the first time in four
sessions on speculation that central
banks will continue stimulus measures to spur economic growth. Silver futures for May delivery climbed less than 0.1 percent to $28.496 an ounce on the Comex. On
March 1, the price touched $27.925, the
lowest for a most-active
contract since Aug. 16. The metal has declined 5.7 percent this year. Natural gas futures jumped to a five-week high in New York on speculation that
unusually cold weather in the
East will spur demand for the heating fuel.
Technical View:
GOLD(APR)
Trend • Consolidate
Strategy • Sell on high
Resistance • R2 - 30280
• R1 - 29980
support • S1 - 29480
• S2 - 29150
SILVER(MAY)
Trend • Bearish
Strategy • Sell on high
Resistance • R2 -57750
• R1 -56270
support • S1 - 53350
• S2 - 52200
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