Buy Gold Around 58800 SL Below 58700 TGT 59000 - Axis Securities
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Gold
Gold prices closed in green in last trading session. Prices settled around 58760 with a gain of 135 points. Yesterday Fed hikes the rates by 25 basis points which supported Comex Gold prices and it jumped by more than 1 percent. We expect a gap up opening in MCX. On daily chart prices is trading above 20 and 60 days EMA which is a positive sign for prices. Traders can buy Gold on dips around 58800 for the target of 59000 on intraday basis
BUY GOLD AROUND 58800 SL BELOW 58700 TGT 59000
Copper
Copper prices has broken the trading range on the upside and has rallied more than 1 percent in last session. Prices settled around 772 level. On daiy chart prices is trading above 20 and 60 EMA and RSI is moving higher and its above its reference which is positive for prices. Traders can buy Copper on dips around 767 for the target of 770 on intraday basis.
BUY COPPER AROUND 766 SL BELOW 763 TGT 770/775
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