Tuesday, 28 May 2013

Gold Silver Down Trend Today |MCX NCDEX Tips

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Gold Silver Down Trend Today : - Gold fell on Tuesday as Asian stock markets and the dollar firmed after a turbulent week, undermining the metal's appeal as a safe haven and prompting more selling in bullion-backed exchange traded funds.Prices still hold strong resistance at 27500 & trend remains down till the given level holds. On the lower side, support holds at 26580, a breach below the given levels further selling is expected till 26000 & 25300 levels. 

Silver Trend :- The trend still remains down till prices are trading below 45350-4550. We advise to Sell on rallies with stop above 45500; downside is expected till 41000 & 37000. 

MCX NCDEX Tips :- Gold (Jun) Sell 26600-26630 target of 26450 / 26300 with stop loss of 26690. Short menthaoil at 923 stop loss 931 target 900. 

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