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Gold

MCX Gold opened with an upward gap and remained in positive terrain  throughout the day. The chart pattern suggests that if Gold crosses and sustains above 58850 level it would witness buying which would push the  price towards 59100-59300 levels. Important support for the day is around 58600.

BUY GOLD ABOVE 58850 SL BELOW 58600 TGT 59100/59300

SILVER

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

BUY SILVER IN THE RANGE OF 72100-72000 SL BELOW 71600 TGT 72700/73400 

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