Gold likely to fall further to around Rs 29550: Nirmal Bang

Gold prices witnessed heavy selling as it fail to cross 30300 on higher end, prices are likely to fall further to the tune of 29550 -29600. One can sell around 29950 30000.

Silver prices have broken the broader range and closed below that which suggests prices are likely to witness more sell pressure till 51500. One can sell around 53500 -53600.

Copper prices are expected to bounce till 417 on higher end. Prices are expected to test 411 on lower end. Prices are expected to trade within a range from 410 to 420.

Nickel prices are expected to test 920 on lower end. One can sell around 940 with a stop loss above 950.

Lead prices have witnessed massive sell off as it sustained below 105. One could sell on rise around 104.30 -104.50 with a stop loss above 105.50 for the target at 103 102.70.

Crude prices are expected to trade lower till 4400 -4440. One should remain cautioned as it is oversold and can test the resistance at 4550 -4560 and can witness selling pressure.

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