Market Update

Market Watch

Thursday, 23 January 2014

MCX Tips: Live Updates and Trends by Money CapitalHeight

Today’s MCX Updates:
•Gold declined for the second straight day
• Silver futures for delivery in March fell 0.2 percent
• Crude rose to a three-week high 


Gold slopes down to the lowest in these 2 weeks on Thursday as investors awaited U.S. data to determine the outlook for the Federal Reserve's stimulus. Gold's decline comes despite weakness in equities as some traders were worried that demand in China.

GOLD (FEB)
Trend: Consolidate | Strategy: Buy on dips
R1- 29370, R2- 29750 | S1-28750, S2- 28480

MCX SILVERM February contract was trading at Rs 44358 down Rs 145, or 0.33 percent. The SILVERM rate touched an intraday high of Rs 44627 and an intraday low of Rs 44236. So far 12118 contracts have been traded. SILVERM prices have moved up Rs 2504, or 5.98 percent in the February series so far.

SILVER (MAR)
Trend: Consolidate | Strategy: Sell on high
R1- 45850, R2- 46700 | S1-44550, S2- 43180

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