Gold: currently trading at 1640.35, day trading range will
remain between 1620-1675, intraday trend expected to remain weak. Immediate resistance
seen at 1643, stability above 1643 would offer intraday advance till 1652-1655
zones. 1657 will remain strong resistance for the day; break above 1657 is less
likely but stability above 1657 would neglect our intraday bearish view on
gold. Immediate support at 1628 stability below 1628 would signal intraday
decline till 1614-1610 zones. 1608-1610 zones will remain key support zones for
the day and failure below 1608 would offer a decline till 1585-1565 zones in
near term.
Silver: currently trading at 31.49, day trading range will
remain between 30.80-32.60; trend is expected to remain weak for the day. Intraday
key resistance seen at 32 stability above 32 may neglect our bearish view on
silver. Immediate support seen at 31.30 failures below 31.30 will take it to
31-30.90 zones for the day. 30.90 are important
to watch failure below 30.90 would offer intraday decline till 30.50-30.30
zones. 2 consecutive daily close below 30.30 would offer a short term decline till 28.60-26.55
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