MCX Commodity Market Outlook|Gold Updates|Silver Trend|Bullion Tips Support Resistance Levels for Today 23 March :- Yesterday spot gold prices declined around 0.4 percent on the back of a stronger dollar yet it traded on choppy sentiments in the global markets. Gold futures prices gave a nice pull back at the late hours of yesterday’s session and it is still reviving at the early Globex session. Today the Euro has changed a little and dollar index is likely to be volatile. Yesterday, MCX Gold April contract rose around 0.2 percent on account of a weaker Rupee and hit an intra-day high of Rs27,937/10 gms yesterday. We could expect the early gains in gold prices may be eroded in the evening and hence we recommend to remain short at higher prices.
GOLD MCX (Apr) : Sup3-27761 Sup2-27787 Sup1-27846 Closing-27913 Res1-27955 Res2-27993 Res3-28032
SILVER MCX (May) : Sup3-55349 Sup2-55609 Sup1-55939 Closing-56302 Res1-56735 Res2-57123 Res3-57348
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