MCX Gold & MCX Silver Trend Trading Levels by BullionMCX.com
MCX GOLD (October): Gold edged down 0.5% while other precious metals posted gains of 1.1% for silver and palladium and 0.4% for platinum. On Friday, gold prices for December delivery jumped $18.60, or 1.2%, to$1,609.30 an ounce. The yellow metal traded between an intraday low of $1,588.50 and a high of $1,609.90. Gold has gained 2.7% in 2012.Gold hit Wednesday and then Thursday over disappointment that the Federal Reserve and ECB failed to offer investor-desired stimulus measures after monetary policy meetings. Resistance and support levels for the today’s session for Gold OCT contract 2012 are: MCX Gold - Trend Consolidate, MCX Gold trading levels for today 06 August 12 – Support - 29810, 29720. Resistance - 30050, 30200.
MCX SILVER (September): Silver rebounded sharply Friday after three straight daily losses, and silver managed to cross into positive territory this week. Silver prices for September delivery rallied 80.6 cents, or 3.0%, to $27.801 an ounce. Silver ranged from $26.990 to $27.895.Silver is Expected resistance and support levels for today trade are as follows. MCX Silver - Trend Consolidate MCX Silver trading levels for today 6 August 12 - Support - 52910, 52530. Resistance - 53770, 54230.