Gold is not able to handle the move. Decline in the international market, the domestic market is also pressure on gold and silver. The gold is broken by approx 5 % at the market in week span. The weakness in gold is due to the strong dollar reported. At commodity market gold is in strong pressure and is Currently trading with a decline of 0.72 percent and is trading at Rs 30975 levels. While mcx silver has dropped also dropped near 0.75 % per cent and currently trading at 61,879. At the commodity market base metals are also looking weaker at MCX and Base metals has weakened by 0.5 per cent.
The precious metals have fallen in the domestic market. The weakness in base metals is also observed as mcx Copper dropped 0.6 per cent to Rs 442.85 with doing business.
Copper on the London Metal Exchange due to the strong dollar is broken. 0.3 per cent to $ 8051 per tonne on the LME copper is trading at. Crude oil has dropped 11 per cent in 2012. The MCX crude oil dropped 0.5 per cent has come down to Rs 4,800.
Investement Trust of India Investment Advice
MCX Gold (February futures): Sell - from 31,200 to 31,240, stoploss - 31 310 and the target - 31100/31000
MCX Silver (March futures): Sell - from 62,300 to 62,400, stoploss - 62 600 and the target - 61900/61600
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