Bullion commodities on Multi Commodity Exchange of India today opened on the negative note today. Since the morning trading session both bullion commodities gold and silver have been trading with the marginal fall. Rupee appreciation as well as the Indian stock market's all time high put the pressure on the commodity market specially bullion ones. There is no possibility of corrections in the prices of gold and silver in Commodity market in evening session today. Technically the market trend may remain bearish to sideways later in the evening session.
- For intra day the MCX Gold may take support level at around 28600 below which it may test the 28400 level while Resistance is seen at 29200 Above which it may move up to touch 29400 level. Intra day traders may take sell position in Gold below 28,890 for the intra day target of 28,700 with placing stop loss at around 29,030.
- MCX Silver is expected to see support levels in between 43,630-43400 while Resistance can be seen at 44,100-44,300. Intra day traders may initiate the sell position from CMP for the target of 43,580.
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