Bullion:
MCX Gold prices seems negative at the market for today on sustained selling from stockists and investors amid subdued demand from traders. Pure gold of 99.9% purity also slid by a similar margin of Rs 210 per 10 gm to finish at Rs 30,505 from Rs 30,715. Standard gold of 99.5% purity dipped by Rs 210 per 10 gm to close at Rs 30,365. Gold is finding lack of buying support since import duty hike other than bearish global situation.MCX Silver also heavy selling pressure to register 58K per kg-level on the back lower industrial demand. Silver ready tanked by a hefty Rs 1,355 to conclude at Rs 58,150 per kg compared to Rs 59,505 previously.
Energy:
MCX Natural Gas is looking negative for the day. MCX Market may find support around 176 & 173. Also intraday resistance can be seen near 181 & 184. Day traders are advised to Sell around 181 on high with SL 184 for the target of 176 & 173.MCX Crude oil is looking slightly positive for the day.MCX Market may find support around 5175 & 5120.Also intraday resistance can be seen near 5240 & 5290. Day traders are advised to Buy around 5175 with SL 5120, for the target of 5240 & 5290.
