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Source: http://www.mcxcapitalviatips.com/ On the MCX gold and silver bullion commodities for march delivery is looking negative at current levels. Low demand and higher production estimates are pressurizing the prices. On India's MCX bullions for March delivery were trading on a negative note at around 29900 and Silver at 57900 around. Gold on the MCX has support at 28500 level and resistance at 31700 levels”, said McxCapitalviatips.com, Research Analyst. “If the commodity trades below 29000 level then it may fall further to 28500 levels. Gold is looking negative for short term until it sustains above 30800 level. NCDEX Jeera Trend Tips In medium term the commodity may turn bullish due to low production estimates in Turkey and Syria, two major jeera producing countries. This will help to increase Indian exports of jeera. Production in Syria and Turkey is being reported around 17,000 tons and around 4,000-5,000 tons, lesser than expectations. Jeera sowing is complete in India and the production is expected around 40 lakh bags as against 29 lakh bags (55 kgs each) in 2010-11crop year. Research Experts at McxCapitalviatips.com advises buying crude on dips around Rs 5,180 per bbl and targets close to Rs 5,230-5,250 per bbl. The stop loss should be placed around Rs 5,160 per bbl. He also suggests buying silver at Rs 58,600 per kilogram, stop loss at Rs 58,000 per kilogram. He also recommends buying nickel and copper on dips. Experts Recommendations for Gold Silver Trading On the MCX gold and silver bullion commodities for march delivery is looking negative at current levels. Low demand and higher production estimates are pressurizing the prices. On India's MCX bullions for March delivery were trading on a negative note at around 29900 and Silver at 57900 around. Gold on the MCX has support at 28500 level and resistance at 31700 levels”, said McxCapitalviatips.com, Research Analyst. “If the commodity trades below 29000 level then it may fall further to 28500 levels. Gold is looking negative for short term until it sustains above 30800 level. To Know More Visit us at:http://www.mcxcapitalviatips.com/
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