Market Update

Market Watch

Wednesday, 20 March 2013

Mcx Gold Silver Live Price


Market Wrap
  • Copper futures dropped to the lowest in almost seven months
  • Natural gas futures climbed to an 18-month high
  • Gold climbed to the highest in three weeks
  • Silver futures for May delivery slipped 0.1 percent


Natural gas futures climbed to an 18-month high in New York as an unusually cold start to spring in the U.S. may bolster demand for the heating fuel. Copper futures dropped to the lowest in almost seven months on speculation that European debt turmoil will damp the region’s economy and erode metal demand. Gold climbed to the highest in three weeks as concern that Europe’s debt crisis may intensify boosted the appeal of the precious metal as a haven. Palladium slumped the most in more than four months.
Technical View: 
GOLD(APR)

Trend               • Consolidate

Strategy           • Buy on dips

Resistance      • R2 - 30450
                          • R1 - 30100

support            • S1 - 29650
                          • S2 - 29180
SILVER(MAY)

Trend          • Consolidate
Strategy      • Sell on high  
Resistance  • R2 -57750                        
                     • R1 -55870

support        • S1 - 53350
                      • S2 - 52200
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