Market Update

Market Watch

Thursday, 3 April 2014

Latest Mcx Commodity Market Watch for Today

Gold held an advance from a seven-week low
Silver for immediate delivery increased 0.2 percent

Gold added to sharp overnight gains on Thursday, as investors looked to square positions before the release of U.S. nonfarm payrolls data that could provide clues about the state of the economy and the outlook for the Federal Reserve's stimulus.
Spot gold edged up 0.3 per cent to $1,282.16 an ounce by 0332 GMT, not far from its seven-week low of $1,277.29. 

Today Trend for Gold:
Trend: Consolidate | Strategy: Buy on dips
R1- 28380, R2- 28650| S1-27750, S2- 27480

MCX SILVERMIC April contract was trading at Rs 42777 up Rs 155, or 0.36 percent. The SILVERMIC rate touched an intraday high of Rs 42799 and an intraday low of Rs 42557. So far 19638 contracts have been traded.

Today Trend for Silver:
Trend: Consolidate | Strategy: Sell on high
R1- 43850,R2- 44500| S1-42350, S2- 41180

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