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

Gold and Silver Futures, Commodity Market Outlook: Nirmal BangGold Prices have breached the 14900 levels yesterday and closed above the same at 14939, which shows strength in the counter. In addition the RSI is rising sharply above the resistance and ADX is indicating strength in the uptrend. Thus on can remain buy in Gold above 14800, targeting 15150-200 in near term.

Silver Prices remained weak during the first half making the low of 22014, while rallied up during the later session closing at 22390 near the high. The prices seem to resist 22400 on the upside. The RSI and MACD look positive with positive cross-over. Thus prices can rally up to 22700 on breaching the 22400 levels on the upside.