MCX Gold Silver Updates and Trading Tips

MCX Gold prices declined below levels of Rs 29550 per 10 grams and ended the session at Rs 29500 per 10 grams. The prices tested a high of Rs 29923 per 10 grams and a low of Rs 29462 per 10 grams. Volumes for Gold were at 19733 on 11 March 2016 against 33091 on 10 March 2016. The prices have tried to surpass the levels of Rs 30000 per 10 grams but that is becoming a sharp resistance zone. On the lower side, a strong base of Rs 29200 per 10 grams is active that means the Gold has high risk for traders. Open interest in Gold was at 7816 on 11 March 2016 against 9155 on 10 March 2016.

CALL: BUY GOLD APRIL AROUND 29400 TARGET 29580 STOP LOSS 29220.

AND

CALL: SELL GOLD APRIL AROUND 29600 TARGETS 29300/29000 STOP LOSS 29800.

Money Maker Research