MCX Gold Silver Tips:
International updates suggest that COMEX Gold fell near about 1% on Wednusday and cut its all previlage gains of last trading. The recent updates suggest that COMEX Gold will trade in a down trend. As the news affect flow in domestic market. MCX Gold is also trading on a volatile trend. Currently MCX Gold is trading at 29683 level down by 0.20 percent. MCX Gold is also looking under selling pressure. Talking about Silver the white metal is also trading on a volatile trend. Although MCX Silver has gained 0.06 percent and trading at 53816 level. MCX gold has a strong support at 29400 level and a resistance at 29850 level for today. Looking in sell side today. In MCX Silver it has a resistance at 54500 level and a support at 53100 level on downside today. Please Fill The Trial Form For More MCX Tips.
Budget Impact on Commodity
As the union budget has been published today. There are a mixed reactions on this budget. Overall its a good Budget with no major changes. As the budget 2013 suggest there is no duty hike on bullion that may be an important fector for bullions. Though CTT has been introduced I don’t think it will pose a major impact for the bullion industry. There is tex deduction in agri products. Over all it is a good budget for commodities.