Hit by the decline of the past
six sessions, gold prices have bounced back. Two major factors of
rising gold silver
1) The Boom of MCX Gold and
Silver prices is the major reason for short-covering by traders. The
means the traders were selling, they have bought at lower levels
again their short positions. That's way Gold and silver prices have
gone up.
2) Friday's weak US jobs data
came in gold and silver Shopping returned because inflation pressures
remain weak economic data and the Federal Reserve.
Buy MCX Gold Silver for
December Contract
Gold: Trader can buy MCX Gold
around 25,900 to 26,050 with in December future contract Targets 26500, 26900 stop loss 25471. hold it 10 October.
Silver: All investors Can buy
MCX Silver Around 34,300 to 34,500 with in December future contract
targets 35200, 35900 stop loss 33711.
ReplyDeleteSILVER 4-DEC
SUPP 1 : 35250
SUPP 2 : 34900
RES 1 : 35800
RES 2 : 36120
STRATEGY : BUY ON DIPS
Commodity Tips
Gold prices are of highly fluctuating nature. Traders find it quite difficult to trade in this. However they can keep themselves updated with the help of post like these. Get daily reports on commodity market by subscribing to epic research services .
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