Government raise import traffic value on gold and silver || evening commodity hope to make small correction on intraday trading
Posted on:30th August 2013
Government on Friday raise in import traffic value on precious metal, now import value on gold come to $461 per 10 gram and silver to $803 per kg. Previous traffic value is $432 per 10 gram and silver was $697 per kg.
Today correction in Indian Rupee make help Indian share market to close in positive, a second continue day Rupee make a recovery and closed positive on market by gain 85 paise to 65.70 at Inter bank foreign exchange. On evening session a mild turbulence might be experienced at MCX, after morning session no such high disturbance had seen in commodity market prices. Especially in base metal a high depreciation had seen on today session for future delivery and small correction is looking in evening trade.
India’s most traded gold and silver prices continue to fall on intraday trading and in these two day silver fall at least by more than -3000 point while gold prices around -1500 point on day trading.
SELL GOLD OCT BELOW 32800 TGT 32700, 32600, 32500 STOPLOSS 33100
SELL SILVER SEP BELOW 54000 TGT 53900, 53750, 53500 STOPLOSS 54500