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Friday, March 9, 2012

MCX Gold & Silver Updates Trend Today

MCX Bullion Outlook: Gold Silver Updates & Trading Trend Today 9 March:- Gold futures extended their gains for second day. Gold edged up on Friday, it rose with other commodities and equities, after lower-then-expected inflation data out of China. It extended profit partly on investor hopes that Greece is on the verge of closing the deal on its crucial debt swap, but prices fell short of the $1,700 per ounce mark. Gold holdings of SPDR gold trust increased to 1,293.68 tons, as on Feb 29. Silver holdings of ishares silver trust, the largest ETF backed by the metal, declined to 9,763.25 tons, as on March 6. Spot Silver rose more than half a percent to USD 34.04 an ounce. Spot platinum gained 0.6% to USD 1,668.24.

MCX Bullion Updates Gold & Silver Tips:-
1) GOLD (Apr) : Close-27972
Sup3-27750 Sup2-27825 Sup1-27900 Res1-28050 Res2-28125 Res3-28200
Buy Around-27950 Tgt1- 28050 Tgt2-28150 SL-27825
2) SILVER (May) : Close-58775
Sup3-57500 Sup2-57925 Sup1- 58350 Res1-59200 Res2- 59200 Res3-60000
Buy Around: 58450 - 58500 Tgt1- 58800 Tgt2-59200 SL- 58200 

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