GOLD SILVER TREND AND LEVELS FOR TODAY

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GOLD (AUG): Gold eased below $1,620 an ounce on Monday, taking its cue from a weaker euro. Spot gold was down 0.3% at $1,618.80 an ounce, while US gold futures for August delivery were down 20 cents an ounce at $1,617.80. Indian gold prices were steady. The most-active gold for August delivery on the MCX was 0.01% lower at Rs 29,792 per 10 gm after trading flat for three sessions in a row. Resistance and support levels for the today’s session for Gold AUG contract 2012 are:

TREND BULLISH
SUP1: 29710,
SUP2: 29635,
RESIST1: 29868,
RESIST2: 29940,

SILVER (SEP): Precious metal, silver rose. Silver metal have been underperforming gold so far this year. Silver gained 1.7 percent at $28.21 an ounce, set for its first monthly gain in five. Its run of four straight monthly losses to June was its longest such streak since 2000.Silver is Expected resistance and support levels for today trade are as follows.
TREND CONSOLIDATE
SUP1: 53360,
SUP2: 52872,
RESIST1: 54362,
RESIST2: 54970,

 

[sandeep06]

MCX Gold & MCX Silver Trend Trading Levels

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.