MCX Gold prices hold support at 28250 on breach below the given level, we expect prices to test longterm Support at 27950 - 28000 while resistance holds at 27500. Gold is trading in a downtrend for today and is recommended to sell for today session. The other commodity metals are also in a downtrend as base metals are trading in a lower trend and same is with the bullion silver.
Today selling in commodity market is recommended as the market is trading in a downtrend. Gold prices are holding the upward sloping trend line support at 28200 any sustained move below 28200 can witness a sell off to the tune of 27900 - 27800.
MCX Tips GOLD SILVER FOR TODAY:
MCX Gold (June) is advised to sell below 28230 with a target of 28150 and stop loss 28270.
MCX Silver (July) is advised to Sell below 53600 with a target of 53200 and stop loss of 53760.
