Bullion Update and Market Outlook: Nirmal Bang

GoldGold: The counter is forming higher lows in past few sessions which indicate strength in the counter, while on the upside prices are resisting the 15060 levels. Thus we can expect a break-out from the 15060 levels to 15150 levels. Thus buying can be done at every dip above 14900.

Silver: The counter closed lower yesterday but maintained above the 23250 levels indicates positive for the counter. The uptrend in the short run is maintained while upside is resisted. The downside is expected to be limited to the support at 23200 (21 DMA).