Bullion Update, Precious Metals Trading and Market Outlook: Nirmal Bang
Gold prices continued to trade within the range, resisting the 7 DMA of 14508 on the upside. Gold can resist the 14538 on upside, if breaches 14508. The bias remains on the downside, with MACD below Zero line. Therefore, one can sell Gold at every rise below 14650; prices closing above 14650 can reverse the immediate trend in Gold.
Silver prices continue to trend downwards in the channel, and below the support levels of 21450. The RSI and ADX suggest selling Silver on every rise, below 21700, prices can test 21000 levels and breaching 21000 can test 20800 levels.