Bullion metals reported a broke of four-day rally today afterthe Federal Reserve acknowledged U.S. growth was slowing but gave no hint that it needed to provide additional economic stimulus, which bolstered the dollar. Gold price futures eased slightly on Thursday. Gold price for August delivery fell $5.60, to $1,537.80 an ounce at the trading session on the Comex division. MCX Gold future price for August contract is currently trading at `22701, it is trading flat for the day. Silver for July delivery is trading marginally lower at $36.27 an ounce, it is down by 49 cents for the day. MCX Silver July is trading at `54200, it is down by `438 for the day.
GOLD MCX (JULY)
Technical Levels
R3 22800/23050
R2 22640/22690
R1 22500/560-610
Pivot 22510
S1 22430/370/300
S2 22250/22140
S3 22080/21950
TREND: Negative
Near Term: Consolidate
SILVER MCX (JULY)
Technical Levels
R3 59500/60150
R2 56300/58000
R1 54500/800/55700
Pivot 54100
S1 53100/52500
S2 52000/500/200
S3 49500/49000
TREND: Negative
Near Term: Consolidate.