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Gold

Gold prices made a new 52 week high of 58840 level in last session. However prices failed to sustian near the day's high and corrected in the evening session and closed around 57800 level. On daily chart momentum indicator RSI is flat indicating sideways trend for prices. On daily chart it has formed a shooting star candle indicating possible reversal from current uptrend. Traders can sell Gold on rallies around 58300 for the target of 58100 on intraday basis.

Silver

Silver prices made a new mulit month high of 72700 and settled lower on account of profit booking around 70300 level. On Daily chart prices has formed a shooting star candle indicating possible reversal of current uptrend. Strong support zone in Silver is seen around 69900 level. Breakdown below the mentioned level may push prices lower twoards 69400 on intraday basis.

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