MCX Bullions Weekly Outlook

Gold:- This week, Gold prices are expected to find support at 28145 - 28100 levels and further below strong support is seen at 27800-27785 levels. Trading consistently below 27775 would give correction initially towards 27600 levels and then finally towards 27245 levels.
Resistance is now observed at 28700-28730 levels and strong resistance is seen at 29035-29100 levels. Trading consistently above 29100 levels would further extend the current rally initially towards 29325 levels, then 29565 and then finally towards the Major resistance at 29735 levels.

Technical levels for this week (30th Jan - 03rd Feb)
Resistance: 28700 - 29045
Support: 27810 - 28135

Silver:- This week, Silver prices are expected to find resistance at 58225 - 58325 levels. Trading consistently above 58335 levels would further extend the current rally initially towards 58785 levels, and then finally towards the major resistance at 59965 levels.
Support is now observed at 56455 - 56400 levels. Trading below 56400 levels would give correction initially towards 55455, and then finally towards the Major support at 53700.
Technical levels for this week (30th Jan - 03rd Feb)
Resistance: 58230 - 59235
Support: 56455 - 55455

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