Buy Gold Around 60700 SL Below 60500 TGT 61000/61200 - Axis Securities
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Gold
Gold prices broke and closed above the trading band in last session. Prices made a new 52 week high and settled around 60980 level. Prices was up by more than 1.5 percent. On daily chart momentum indicator RSI is trading above 60 level mark and prices is trading above 20 and 60 EMA which is a positive sign for prices. On daily chart it has formed a large bullish candle and has closed above its previous session high which is a positive sign for prices. Traders can buy Gold on dips around 60700 for the target of 61000 on intraday basis.
BUY GOLD AROUND 60700 SL BELOW 60500 TGT 61000/61200
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. Traders can buy Silver on dips around 74000 for the target of 74600 on intraday basis.
BUY SILVER AROUND 74000 SL BELOW 73500 TGT 74600/75200
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