Today mcx commodity seen negative bias with high declination in bullion .After a heavy gains gold and silver down both precious metal showing heavy downfall since morning. Mcx silver metal naked at 46992 or down 561 points or – 1.19%. If we talk about gold trading down after opening traded at 30380 or 251 or -0.82% if we look on down side strong support are 30317 and a high resistance of 30650. stock market and commodity market under pressure because of pricing risk from the Ukraine crisis.
In Mcx base metal whole metals trading negative side, after yesterday heavy gains crude oil decline from 48 points or 0.74% at 6460 we expected that not a same trend will seen in evening session.should be some correction in gold and silver trend.
Mcx gold buy above 30500 targets 30390/30440/ 30490 stoploss 30300
Mcx silver sell below 48250 targets 46600 46500/46400/46300 stoploss 48650
Mcx natural gas buy 281 targets 282/284/286 stoploss 278