Gold Futures on Multi Commodity Exchange of India is expected to remain under the selling pressure. Hence it may trade on the sideways to consolidate trend on MCX for the upcoming intraday trading sessions. The U.S. trade deficit has decreased sharply. In the month of November, the U.S. trade deficit has risen to 4 -year low. While Export has increased in mean while due to which the dollar has gained momentum against the Rupee. FOMC will continue to have it's recent meetings to discuss the important issues. At moment the gold on MCX is trading around 28,723 with a marginal fall of 0.38% while the Silver is trading at 43,690 with a fall of 1.27%.
Bullion MCX Gold & Silver Trading Tips & Strategies for Today
- MCX Gold is recommended a Sell call for today below 28700 level for the Intra-day Target of Rs 28600-28500 which further may move down to lower levels. Keep Stop Loss at 28750.
- Traders may take sell position in MCX Silver at around 43650 for the Intraday target of 44550-44400 and lower levels further. Follow Strict Stop loss at around 44730.
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