Wednesday, September 28, 2011

Gold, Silver, Copper Updates for trading

MCX Gold Trend
After getting some correction gold again slip today, the yellow metal touched an intra-day high of $1676/oz and closed its trading session at $ 1649/oz yesterday. On the MCX, Gold October witnessed gains of around 2 percent and touched an intra-day high of Rs 26,677/10 gms on Tuesday. We not suggest for short term or intraday trading in gold.

MCX Silver Trend
Spot silver also rose sharply by 3.8 percent on Tuesday mainly taking cues from rise in gold prices coupled with upside in base metals.Additionally, dollar weakness also acted as a positive factor. Today in evening session silver trade in negative side, but we expect that it perform some correction after data.

MCX Copper updates
Copper show 2.95% decline on chart, it may trade for 362.10 level in next trading hour, We suggest for sell strategy in copper today at lower level.

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at 9/28/2011 06:00:00 PM
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