Gold: currently trading at 1655 day trading range will
remain between 1624-1685, trend will remain sideways. Intraday important level
to watch is 1660 stability above 1660 needed to confirm yesterday’s bullish
move. Above 1660 if manage to hold then 1680-1685 can’t be ruled out for the
day. Intraday support at 1644 stability
below this level will take it to 1638-1632 zones. 1624 will remain key support
in short term and outlook will remain bullish till gold holding above this support.
Silver: currently trading at 31.03, day trading range will
remain between 30-32.30; trend is expected to remain sideways with negative
bias. Intraday strong rest at 31.30 stability needed to move further upside immediate
support seen at 30.70 stability below this may take it to 30.30-30 zones for
the day. Above 31.30 if manage to hold then will try to move upwards till
31.90-32 but 32.30 will remain key resistance for very short term.
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