Bullion Update, Precious Metals Trading and Market Outlook: Nirmal Bang

GoldGold: The counter has seen some correction yesterday, after making a new high above 15150. Prices took support at the 7 DMA of 15040. The immediate support for Gold is seen at 15040- trend line support. Breaching this level prices may take support at the 14980 levels. Thus for the day prices may trade side-ways to down

Silver: The counter looks strong above the trend line, as prices has rallied lower during the day but managed to close higher on a positive note. Also prices are seen resisting the 23850 levels on the upside. Breaching 23900 on upside prices can test 24250-300 for the day. Thus one can remain long at dips above 23500.