Gold bounces from 11-mth Low, regains Rs 28,000 on global cues

4 days after the fall of gold rose, rose to Rs 475 across 28 thousand price rose

Better shopping and global cues due to a substantial increase was seen in gold Tuesday. Delhi spot market, gold closed at Rs 475 per ten grams to Rs 28025.

MCX Free Tips: With this in silver gained Rs 550 per kg, and after several days it surpassed the level reached 39,000.

Had lost Rs 400 in last 4 days

Gold prices in the last four days, there was a slowdown of Rs 400.

Increase in the international market

Best Stock Advisory: Gold prices in the international market on Tuesday also saw an increase. In Singapore, gold rose by 0.94 per cent to close at 1138.90 an ounce. Meanwhile, silver rose by 0.83 per cent and 15.88 per ounce fell. 

Trading Range of Gold, Crude and Silver

• Gold trading range for the day is 26859-27575. 
• Crude oil trading range for the day is 3589-3725 
• Silver trading range for the day is 38410-39778. 

Investment Advisory Company CALL:- 

BUY SUNTV 480 CALL

ABOVE 10.20

TG1 11

TG2 12.70

SL 8.20

There may be up to 25000 Gold Prices, then Wait to Buy

Gold prices in the domestic market for the short term can reach 25 thousand per 10 grams.

MCX Free Tips: US interest rate hike by the Fed already has had an impact on gold prices.

11-month low, gold prices in the domestic market has reached 27 550 rupees per 10 grams.

Notbandi since gold prices had fallen by 4,000 rupees per 10 grams, while silver prices fell by Rs 4,150.

November 8 Rs 31,750 per 10 grams, Gold said. Meanwhile, silver prices closed at November 8 43 850 per kg. 

26 December gold closed at 27 550 rupees per 10 grams, while silver at Rs 38660 per 10 grams.

Best Stock Advisory Profitable Research Trading Call for Today

BUY SUNTV 480 CALL 

ABOVE 4.70 

TG1 5.60 

TG2 7.20 

SL 2.70

MCX Gold Trading Technique

Gold- MCX Gold may trade lower in line with international market. Gold prices edged higher on a weaker dollar and as markets waited for the outcome of the U.S. Federal Reserve's policy meeting. Domestic gold prices are however getting some support from weaker rupee. MCX Free Tips: Support for MCX Gold February contract is seen at Rs.27050 while Resistance is seen at Rs.27400.

Silver- MCX Silver may trade with a downward bias tracking cues from international exchange. Silver gains with the dollar little changed as investors awaited the outcome of the Federal Reserve’s latest policy meeting. Support for MCX Silver March contract is seen at Rs.40500 while Resistance is seen at Rs.41650.

Copper- MCX Copper may note some gains tracking cues from international exchange however the upside may be capped. Copper recovered on a brightening outlook for demand, shaking off an earlier dip.  LME Copper trades higher in early trades today following 0.6% gains yesterday. Best Stock Advisory: Support for MCX Copper November contract is seen at Rs.386 while resistance is seen at Rs.397.

Crude Oil- MCX Crude may note some decline tracking cues from international exchange but downside is limited. Crude oil prices dropped as pressure seen as gasoline supplies rose modestly despite U.S. crude oil stockpiles fell more than expected. Support for MCX Crude December contract is seen at Rs.3430 while Resistance is seen at Rs.3510.

GOLD – SILVER SPOT RATIO

The gold/silver proportion, which measures the number of silver ounces needed to buy an ounce of gold is trading down on Thursday morning. The gold/silver ratio was trading at 67.66 ounces compared with 68.00 ounces on Wednesday.

Free Stock Tips: CALL:- BUY VEDL FUTURE 

ABOVE 237 

TG1-237.85 

TG2-238.70 

SL-235.75

Gold-Silver Trading Range for the Day

Gold trading range for the day is 27380-27726.

Gold dipped somewhat ahead of key two-day meeting of U.S. Fed that is expected to deliver the second interest rate rise in a decade.

MCX Free Tips: Fed’s Charles Evans said that it was “still early to have a good idea of what fiscal policies and other events are going to mean.”

Reflecting lackluster sentiment, holdings of the SPDR Gold Trust, holdings are down over 9 pct since November.

Silver trading range for the day is 40534-42110.

Silver dropped as investors turned their attention to the outcome of the Federal Reserve’s two-day meeting.

The Fed is widely predictable to hike rates for the first time in a year on at the end of its meeting, with investors pricing in a 100% possibility of a raise.

Holdings at ishares silver trust dropped by 0.53% i.e. 56.04 tones to 10664.32 tons from 10664.32 tones

Watch today's intraday stock call

CALL:- BUY SHILPA MED

ABOVE 695

TG1 710

TG2 725

SL 678.20