Buy MCX Gold; target of Rs 29530: Dani Commodities
Dani Commodities has come out with its report on bullion. According to the research firm, one can buy MCX Gold with a stop loss of Rs 29340 for the target price of Rs 29530.
December 12, 2013 / 12:25 IST
Dani Commodities' report on bullion
Gold corrected although marginally after witnessing two consecutive days of rally and settled at Rs 29460 per 10 grams, down 0.25 percent*The gap that was formed between 29 November 2013 when Gold settled at Rs 30236 and Rs 28829 per 10 grams on 2 December has been filled till 11 December 2013*Active friction can be seen near Rs 29900 and 30200 in coming days*Medium term supports for Gold is at Rs 28800 per 10 grams*However, Gold is expected to recover from a psychological support at Rs 29200 and 29000 per 10 grams*COMEX Gold on the other hand was down by USD 3.3 per troy ounce when last checked*The prices were at USD 1253.9 per troy ounce.MCX GOLD
International: Major Support at USD 1250. Bearish below USD1250.
Domestic: Buy at 29400, Stoploss 29340, Target 29530.MCX SILVER
International: Major Support at USD19. Bearish below USD19.
Domestic: Buy above 45880, Stoploss 45650, Target 46100.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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