Market Update

Market Watch

Friday, 20 December 2013

MCX Market: Gold Silver News


Gold becomes dull on Friday at a six-month low and was on the edge of tipping over to a 3-1/2 year trough after the Federal Reserve's move to cut back its bond-buying stimulus prompted a huge sell-off.
The metal is heading for its worst weekly performance in three months and its biggest annual loss in 32 years.
GOLD (FEB) :
Trend: Consolidate | Strategy: Buy on dips
R1- 28670, R2- 28950| S1-28050, S2- 27780

Silver ready remained under selling pressure and surrendered further Rs 425 to Rs 44,225 per kg and weekly-based delivery by Rs 420 to Rs 44,580 per kg. Silver was down 2.7percent at $19.19 an ounce.
Silver coins maintained steady trend at Rs 85,000 for buying and Rs 86,000 for selling of 100 pieces.
SILVER (MAR) :
Trend: Consolidate | Strategy: Sell on high
R1- 44850, R2- 45700| S1-43350, S2- 42280

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