Buy Gold Around 53600 SL BELOW 53500 TGT 53800/54000 - Axis Securities
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GOLD
Gold opened with an upward gap and remained in positive terrain throughout the day.Gold closed at 53914 with a gain of 1005 points. The daily strength indicator RSI is moving upwards and is above its reference line indicating positive bias. On the daily chart It has formed a bullish candle and has closed above its previous session's high indicating positive bias. On hourly chart Gold is trading above 20 and 60 day EMA's indicating positive bias in the short term. Gold continues to remain in an uptrend for the short term, so buy on dips continues to be our preferred strategy
BUY GOLD AROUND 53600 SL BELOW 53500 TGT 53800/54000
SILVER
Silver opened with an upward gap and remained in positive terrain throughout the day. Silver closed at 65300 with a gain of 1937 points. The daily strength indicator RSI has turned positive from the oversold territory and is above its reference line indicating positive bias. On the daily chart It has formed a bullish candle and has closed above its previous session's high indicating positive bias. On hourly chart Silver is trading above 20 and 60 day EMA's indicating positive bias in the short term. Short term trend is looking positive for prices. Buy on dips will be our prefered strategy
BUY SILVER AROUND 64500 SL BELOW 64200 TGT 65800/66200
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