Market Update

Market Watch

Monday, 9 December 2013

MCX Tips: Gold Trading in a Tight Range

Trade in gold is in a very tight range on Monday as markets fretted over once the U.S. Federal Reserve can begin to taper its economic input and as stronger equities damaged the metal's safe-haven charm.

At the today’s moment gold is prices are increasing from morning and should swings between gains and losses. Spot gold was up 0.1 percent to $1,229.79 an ounce by 0401 GMT. Most Asian share markets rose, energized by a potent cocktail of upbeat Chinese trade data, a weaker yen and a firm finish on Wall Street.

Trend: Consolidate | Strategy: Buy on dips
R1- 29570, R2- 29950| S1-28760, S2- 28350

Spot silver gained 0.3 percent to $19.566 an ounce. Platinum rose 0.2 percent to $1,361.88 an ounce, climbing for the first time in three days. Palladium was little changed at $734.38 an ounce.

Trend: Consolidate | Strategy: Sell on high
R1- 45150, R2- 46700| S1-43350, S2- 42580

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1 comment:

  1. Multi Commodity Exchange of India Ltd (MCX) is an independent commodity exchange based in India. MCX market tips are many services including like : bullion, industrial metals, energy and agricultural commodities.
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