Latest MCX Gold Trend July

It seems that the rein has been put in the booming of gold and silver in the market.Gold and silve rare trading range bound across the globe.MCX Gold hit the price band of 29,574 by falling down 0.3 percent in the market.while silver has broken half per cent. Gold ETF holdings of the domestic market have come down substantially, in June,as the investors withdrew a record Rs 230 crore. The holding of the gold ETFs have been cut down by 25 per cent.There is a slowndown in the economy world wide despite this the gold is trending down.The market is being a little pessimistic and cautious about the global economy, and investors are choosing the dollar as the top safety havenThe strength in the dollar is in turn putting pressure on gold prices.

Hence We recommend Following MCX Commodity tips for Today’s session:-

Gold (MCX): Sell @ Rs -29 580, Stop Loss-29680 Target-29,450

Silver (MCX): Sell @ Rs -53280, Stop Loss-53400 Target-52900

Crude oil (MCX): Sell below @ Rs -4730, Stop loss-4780 Targets 4680 to 4620

Copper (MCX): Sell below @ Rs -423, Stop Loss -425.50 Target-418