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Gold

MCX Gold opened on a flat note and buying momentum throughout the session let it close near the day's high.The chart pattern suggests that if Gold crosses and sustains above 49550 level it would witness buying which would push the price towards 49800- 50000 levels. Important support for the day is around 49100.

BUY GOLD ABOVE 49550 SL BELOW 49400 TGT 49800/50000

Silver

MCX Silver opened with an upward gap and remained in positive terrain throughout the day. The daily strength indicator RSI has turned positive from the oversold territory and is above its reference line indicating positive bias. Silvercontinues to remain in an uptrend for the short term, so buying on dips continues to be our preferred strategy. 

BUY SILVER ABOVE 57200 SL BELOW 56600 TGT 57900/58500 

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