MCX GOLD TIPS TREND AND TRADING LEVELS FOR TODAY
MCX Gold (Aug): Gold remained on track for second straight week of gains on Friday, though it was little changed from the day before as investors waited for more U.S.jobs data to help gauge the health of the world's top economy and provide trading cues. Spot gold was little changed at $1,605.19 an ounce by0313 GMT on Friday, on course for a weekly rise of 0.4 percent. The U.S. gold futures contract for August delivery edged down 0.2 percent to $1,605.90.Technical analysis suggested that spot gold could fall to$1,586 an ounce during the day, said Reuters market analyst WangTao. Resistance and support levels for the today’s session for Gold AUG contract 2012 are: MCX Gold Tips - Trend Consolidate. Support1: 29610, Support2: 29470, Resistance1: 29850, Resistance2: 29970.
MCX Silver (Sep): Silver futures for September delivery slid 2.1 percent to $27.672 an ounce. Silver, the poor man’s gold, to average $38 an ounce in the fourth quarter this year and to average $42/oz in 2013, said Deutsche Bank, the largest bank in Germany, in a quarterly commodities research note.Silver is Expected resistance and support levels for today trade are as follows. Trend Consolidate – MCX Silver Tips Support1: 53627, Support2: 53523, Resistance1: 53833, Resistance2: 53935.