Commodity market today is expected to trade good on the back of precious metals. MCX bullion metals today expected to trade higher on the back of global cues. Gold was also supported by expectations for monetary easing in Japan and physical buying in China. Gold is expected to go up today as the debt ceiling issue has created uncertainty in the US and is supporting gold prices.
Gold Silver Trend Today :-
We expect precious metals to trade higher on the back of positive comment by the US Federal reserve official to continue with the monetary easing program. This would keep the economy on the path of recovery. Improved buying by the Asian buyers is also expected to support the precious metal prices. Depreciation in the rupee is expected to act as a supportive factor for the precious metals on MCX.
MCX Gold Tips :- Buy Gold (feb) :- Tgt1-30980, Tgt2- 31040, SL- 30700
MCX Silver Tips :- Buy Silver (mar) :- Tgt1-59600,Tgt2- 60000, SL- 58700
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