The MCX Gold and Silver futures continue to exhibit a bullish bias on multiple time-frame charts. Gold futures are likely to re-test the March highs of Rs 55,550-odd level, while Silver futures seem on course to surpass the Rs 71,000-mark.
Gold
Bias: Positive
Last Close: Rs 54,295
Target: Rs 55,550
Support: Rs 53,850
Resistance: Rs 54,450
The MCX Gold futures have witnessed a smart rally in the last five-odd weeks, having gained as much as 8 per cent during the period. Following which, the Gold December futures are now seen trading near the higher-end of the Bollinger Bands, both, on the daily and the weekly