Market Update

Market Watch

Wednesday, 1 January 2014

MCX Gold Silver Tips Today

Gold dropped to a six-month low in slim year-end trade on Tuesday, notching up its greatest yearly decrease in 32 years as leads for international economic restoration persuaded traders to change to more risky resources.

Gold was also set to post significant yearly failures in other foreign exchange, with costs in dollars down 31 % on the season, the first fall since 2004. Prices dropped 30 % in Europe francs and 29 % in British pounds.
Trend: Consolidate | Strategy: Buy on dips
R1- 28770, R2- 29150| S1-28050, S2- 27780

Silver was down 1.13 percent to $19.43 an ounce. Silver is down 36 percent this year in its worst annual performance since at least 1982, making it the worst-performing precious metal in 2013. 
MCX SILVER May contract was trading at Rs 44955 down Rs 225, or 0.50 percent. The SILVER rate touched an intraday high of Rs 45065 and an intraday low of Rs 44740.
Trend: Consolidate | Strategy: Sell on high
R1- 44850,R2- 45700| S1-42850, S2- 41280

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