MCX GOLD TREND :- Gold plunged the most in 2-weeks, as the European Central Bank refrained from providing more stimulus measures after a meeting in Barcelona, easing concern that inflation will
accelerate. Silver also retreated. Gold and silver are expected to trade lower today taking cues from
strength in the US dollar index and mixed market sentiments. Silver will also take cues from movement in base metals. US non-farm employment change is expected to be on a negative note today and
if the data come as expected then this will lead to further downside in prices. However, a weaker Rupee may cushion sharp decline on the domestic bourses.
MCX COMMODITY TRADING ADVICES :-
MCX Crude Oil (May futures): Sell - 5580, stoploss of Rs - 5630 and the target - 5490
MCX Silver (July futures): Buy - 56 150, stoploss of Rs - 56000 and target - 57 200
MCX Copper (June futures): Sell - 447, stoploss of Rs - 450 Target - 441