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Gold

Copper prices traded volatile in the last session. It settled around the 779 level. Prices have been stuck in a trading range between 770 and 782 level from the past few days. Momentum indicator RSI is trading flat indicating a sideways trend for prices. We expect prices to trade in the mentioned range as long as the support and resistance zone is intact on a daily closing basis. Traders can buy Copper on dips around 775 for the target of 779 level.

BUY COPPER AROUND 775 SL BELOW 772 TGT 779/782

Silver

Silver prices in the last session touched a new weekly high and closed around the 72200 level. On the daily chart, silver prices have closed above the strong resistance zone of the 72000 level which is a positive sign for prices. On the daily chart, prices closed above 20 and 60 EMA and the momentum indicator RSI is trading above its reference line and moving higher, indicating that momentum is strong for prices. Traders can buy Silver on dips around 71600 for the target of 72000 on an intraday basis.

BUY SILVER AROUND 71600 SL BELOW 71200 TGT 72000/72300

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