MCX Gold Trend
MCX Gold August futures prices opened today at Rs 30161. It is trading almost flat today at Rs 30143 up by 0.10%, against its previous closing of Rs 30113 per 10 grams.Gold investors will be closely watching US data in the Q2 for clues as to the likelihood of QE3, which could potentially hurt the dollar and support Gold. Technically Gold is still looking strong on charts but short term correction or profit booking cannot be ruled out.
Intraday Gold Tips
Intra-day traders advised to Sell MCX Gold August future below Rs. 30100 with Stop Loss of Rs. 30150 and Target of Rs. 30050.
MCX Zinc Trend Today
Technically on daily charts, MCX Zinc is forming rounding bottom and may give break out above 105.45. This level got tested 3 times in last 6 trading sessions indicating that it is a strong resistance and a break out above this level will give significant upmove.
Intraday Zinc Tips
Intra-day traders advised to Buy MCX Zinc May future above Rs.105.45 with target of Rs.106 and Stop loss of Rs.104.90.