Gold, Silver, base metals prices: Know crucial levels, trends, indicators
Want to know how Gold and silver prices are expected to trade over the week as the December trading starts today? Motilal Oswal outlines the crucial levels for gold silver and other metals along with the indicators that could impact the prices. See the important levels and the trends to devise your own strategies for this week
Want to know how Gold and silver prices are expected to trade over the week as the December trading starts today? Motilal Oswal outlines the crucial levels for gold silver and other metals along with the indicators that could impact the prices. See the important levels and the trends to devise your own strategies for this week.
MCX Gold – MCX Gold is expected to trend in a sideways trend having good support at Rs 47,850 and resistance at Rs 48,300 level
Spot Gold – International price of Spot gold is expected to be in the range of USD 1770 and USD 1800.
MCX Silver – MCX Silver is expected to trend with a positive bias with support around Rs 60,100 and the next support around Rs 60,500. The brokerage firm advises Buy on Dips strategy with the resistance in the range of Rs 61,200 and Rs 61,650
Spot Silver - MCX Silver is expected to trend in a rangebound manner between USD 22.45 and USD 23.20. The trend is expected to be positive.
Bullion Index (BULLDEX) – MCX BULLDEX is expected to trade in a sideways trend with good resistance at Rs 14,880 level and support at Rs 14,700 level.
Know the outlook for MCX Metals and the Metal Index too:
METALDEX – The Metal Index is expected to trend with a positive bias with good support at Rs 1,195 and resistance between Rs 1220 and Rs 1228.
MCX Copper – MCX Copper price is expected to trade in a positive zone with good support at Rs 582 and intermediate support at Rs 585. Buying on dips is advised with the targeted resistance between Rs 590 and Rs 592.
MCX Nickel - MCX Copper price is expected to trade in a positive zone with good support at Rs 1195 and intermediate support at Rs 1205. Buying on dips is advised with the targeted resistance between Rs 1220 and Rs 1228.
MCX Lead - MCX Copper price is expected to trade in a positive zone with good support at Rs 160 and intermediate support at Rs 161. Buying on dips is advised with the targeted resistance between Rs 162.50 and Rs 163.80.
MCX Zinc - MCX Copper price is expected to trade in a positive zone with good support at Rs 219.50 and intermediate support at Rs 221. Buying on dips is advised with the targeted resistance between Rs 223 and Rs 224.20.
MCX Aluminium - MCX Copper price is expected to trade in a positive zone with good support at Rs 165.50 and intermediate support at Rs 166.50 Buying on dips is advised with the targeted resistance between Rs 168 and Rs 169.
Watch out for these indicators: These are the indicators that may have an impact on the price of Gold, Silver and other metals
- India’s manufacturing growth remained strong in November, latest #PMI data suggest, with the index at 56.3 despite losing some traction from Oct.
- OPEC Meeting today, which is expected to take place at 3:30 pm India time
See Zee Business Live TV Streaming Below:
- ECB President Christine Lagarde is expected to speak today
02:13 PM IST