Buy MCX gold; target of Rs 32600: Dani Commodities
Dani Commodities has come out with its report on commodities. According to the research firm, one can buy MCX gold at Rs 32400 with a stoploss of Rs 32300 for target price of Rs 32600.
September 05, 2013 / 12:33 IST
Dani Commodities' report on bullion
The selling in Gold chopped it to Rs 32604 per 10 grams, down 6% The prices tested a low of Rs 32410 per 10 grams*Resistance for the contract is at Rs 32680 per 10 grams*Supports for the contract are at Rs 31900 per 10 grams*Fresh shorts can be initiated from Rs 32680-32700 levels*Open interest for the contract was at 8652, which was in line with the previous sessions were Gold gained sharply*COMEX Gold is seen trading at USD 1393.5 per troy ounce, down USD 3.5 per troy ounce*However the rise in international prices is not expected to show reflection on Indian metal that will move according to domestic factors.MCX GOLD
International: Major Support at USD 1250. Bearish below USD1250.
Domestic: Buy at 32400, Stoploss 32300, Target 32600.MCX SILVER
International: Major Support at USD19. Bearish below USD19.
Domestic: Buy at 54500, Stoploss 54200, Target 54900.Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions. 
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