Market Update

Market Watch

Wednesday, 23 April 2014

MCX Tips- Live Updates on Gold and Silver

Gold was steady but near its lowest in more than two months on Wednesday, with stronger equities denting the metal's safe-haven appeal and outflows from bullion funds showing weak investor appetite. 
Spot gold was trading flat at $1,284.49 an ounce by 0321 GMT. It fell to a low of $1,277.10 on Tuesday - its weakest since Feb. 11.
Trend: Consolidate | Strategy: Buy on Dips
R1- 28780, R2- 29350| S1-28350, S2- 28050

Silver followed suit and gained Rs 230 to Rs 42,830 per kg on increased off take by industrial units and coin makers.
Silver ready recovered by Rs 230 to Rs 42,830 per kg and weekly-based delivery by Rs 340 to Rs 42,130 per kg. The white metal had plunged by Rs 800 in the previous session.

Silver coins also spurted by Rs 1,000 to Rs 80,000 for buying and Rs 81,000 for selling of 100 pieces
Trend: Consolidate | Strategy: Sell on high
R1- 42850,R2- 43500| S1-41350, S2- 40180

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