MCX GOLD SILVER OUTLOOK :- Gold and silver are expected to trade with a negative bias today on account of strength in the US dollar index, as a stronger dollar makes dollar-denominated commodities look expensive for the holders of other currencies. Silver will also take cues from downside in base metals pack. However, a weaker Rupee may cushion sharp fall on the Indian platform
MCX GOLD SUPPORT & RESISTANCE (June'12) :- Support :- 28650/28500, Resistance :- 28850/28950
MCX SILVER SUPPORT & RESISTANCE( May'12) :- Support :- 56700/56200, Resistance :-57500/58000
BASE METALS UPDATES :- Base metals are expected to trade lower today on account of weak GDP data from China which created demand concerns from the world's largest metal consumer. Additionally, strength in the US dollar index will also act as a negative factor for metal prices. However, depreciation in the India currency may cushion sharp decline on the MCX
MCX COPPER SUPPORT & RESISTANCE(Apr'12) :- Support :- 418/414 Resistance :- 424/427