GOLD
DAILY REVIEW:
Bullion fell in yesterday’s trade in-line with our view for the day. At Comex we saw Gold for active February expiry closing lower by 1% to $1251 per ounce.
In Indian markets at MCX, gold for same month’s settlement finished with a loss of 0.95% to Rs 29520 with a better performance despite the strong appreciation in the Rupee. Local demand factors are the likely reason for better performance at the MCX platform.
MCX Gold February Call: Buy at Rs 29370-29400 TP 29680/29840 SL 29210 and Sell at 29840-29870 TP 29650/29510 SL 30020
SILVER:
DAILY REVIEW
Silver was the other commodity which lost significant weight in yesterday’s session. Silver fell 1.5% in the Comex platform with commodity taking negativism from gold and also base metals.
In MCX trade, we saw the commodity closing highly lower to Rs 44170 per Kg with losses seen near 2.3% as we also faced negative pressure out of Rupee appreciation.
MCX March Call: Sell at Rs 45400-45450 TP 44700/44100 SL 45950 and Buy above 46000 TP 47300/48100 SL below 44900
DAILY REVIEW:
Bullion fell in yesterday’s trade in-line with our view for the day. At Comex we saw Gold for active February expiry closing lower by 1% to $1251 per ounce.
In Indian markets at MCX, gold for same month’s settlement finished with a loss of 0.95% to Rs 29520 with a better performance despite the strong appreciation in the Rupee. Local demand factors are the likely reason for better performance at the MCX platform.
MCX Gold February Call: Buy at Rs 29370-29400 TP 29680/29840 SL 29210 and Sell at 29840-29870 TP 29650/29510 SL 30020
SILVER:
DAILY REVIEW
Silver was the other commodity which lost significant weight in yesterday’s session. Silver fell 1.5% in the Comex platform with commodity taking negativism from gold and also base metals.
In MCX trade, we saw the commodity closing highly lower to Rs 44170 per Kg with losses seen near 2.3% as we also faced negative pressure out of Rupee appreciation.
MCX March Call: Sell at Rs 45400-45450 TP 44700/44100 SL 45950 and Buy above 46000 TP 47300/48100 SL below 44900
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