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MCX Bullions road map for 30 July, 2012


Gold: Gold Oct. contract closed at 30150, day trading range 29950-30300, trend is sideways.  Immediate support seen at 30100 failures would signal intraday weakness and gold may fall till 30000-29950 for the day. Key support will remain at 29900. Immediate resistance seen at 30200 stability may take it to 30200-30250 zones. Key resistance will remain at 30300 for the day.

Silver: closed at 53228, trading range 52200-53600, trend sideways.  Silver is moving between ranges of 53000-536000 after breakout above 53100. Today 53000 will remain important to watch failure may trigger intraday weakness and it may try to taste 528850-650 zones for the day. Key support will remain at 52200 for short term. Key resistance seen at 52600 breakouts above this level will offer 54000-54300 as target area for very short term. Key resistance will remain at 54500 for short term. 
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