yesterday, Gold rallied by 0.50% settled at 21013 once again above 21000 marks re-approaching an all-time high as the safe haven appeal.

Precious metals were boosted by ongoing turmoil in the Middle East and renewed concerns over the euro zone’s sovereign debt crisis.

On Thursday, Gold April delivery contract rose by 0.10 percent to 21025 rupees per 10 grams. Gold price failed to cross weekly high levels due to lack of volume in future trading ahead of uncertain outlook for list of US economy datas due next week.

Instantly Gold is getting support at 20920 and below could see a test of 20830 levels, and resistance is now likely to be seen at 21050, a move above could see prices testing 21120.



Buy MCX Silver May above 55900 Target-56000-56150-56250 SL-55600

Buy MCX Gold 20850-20900 Target-21000-21100 SL-20680


MCX Silver continues to gain from uncertainty over the situation in Libya and the ongoing efforts to bring the Fukushima nuclear plant under control in Japan.

Silver remained in zigzag move, supported by technical buying and short covering from last one week. Yesterday Silver price closed at 54,296 rupees after choppy trading range.

MCX Silver price got support of rising Crude oil prices and Base metals prices. Silver face resistance at 54,500. Today after testing below level at 54148 rupees, Silver recovers till 54672 by 0.50 percent upside.

Silver trend is sideway for week and overall trend is upside for whole year. In sideway trend, Sell on higher trading range of day and buy on lower trading range can be good earning opportunity for coming days. Strong support for silver stays at 53,500 and resistance is at 55,000
MCX Natural gas March contract yesterday traded with the negative node and settled -0.05% down at 187.6 after a good bounce in the morning session climbing to a six-week high, as forecasts for colder-than-normal temperatures across most of the U.S. for the end of March boosted expectations for heating demand.

For today's session market MCX Natural Gas March contract is looking to take support at 185.3, a break below could see a test of 182.9 and where as resistance is now likely to be seen at 190.4, a move above could see prices testing 193.1.

MCX Natural Gas March contract trading range is 182.9-193.1.

Short term traders can buy MCX Natural Gas contract near 185 with the stop loss of 179 and can wait for the targets of 193 and 197.

MCX Gold April contract traded below 55 days linear regression which suggests more sellers. It tested lower levels of 20469 during the previous week.14 days RSI in daily chart is at 52 which suggest short term weak trend.

MCX Gold April contract opened at 20974 per 10 gram. It tested intraday low of 20855 and last traded at 20874 down by 79 rupees. The contract faces resistance near 21130 while its support is seen near 20760.

Short term traders can sell MCX Gold April contract near 20960 with stop loss of 21120 and can wait for target of 20860.