The mcx gold is in progress as long as 29960 region caps the upside for the day and such weakness may edge down prices towards 29730 / 29600 or even more towards 29480 levels. A vertical rise above 30020 region could adulterate our bearish view and test 30120 / 30250 or even higher towards 30330. MCX silver is also in downtrend selling sentiments is probably to continue towards 53600 / 53300 or even lower towards 52600. Even in this bearish outlook, surprise rise above 54500 region could question our glum outlook and uncover upside region of 54800 / 55200 or even higher towards 55700.
