MCX Gold June has opened at 28,569 levels and then sharply corrected up-to 28,351 levels, but was not able to breach the support level of 28,300 levels and prices rallied sharply from support level to 28,780 levels. Gold found a good resistance at 28,800 - 28900 levels. For this week we expect gold prices to find resistance at 28,900 - 29,000 levels and further above strong resistance is seen at 29,300-29,400 levels. MCX Silver May as seen in the weekly chart above has opened at 55,843 levels. For this week mcx silver prices are expected to find major resistance at 57200-57300 levels. Trading consistently above 57,300 levels would open the door for a new leg up initially towards 58,000 then 58,300 levels. Strong Support is now observed at 56,100-56,000 levels.
MCX Live Tips Trend for Today 23 April
MCX Gold (June) buy between 28200 - 28300 and put stop loss at 27900 and target of 28900 / 29100.
