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Gold and silver move in the domestic market is also presentation sluggish. With small edge on MCX gold is trading at Rs 29 568, while silver is flat with a turnover of Rs 52,500. In the worldwide market is going to see selling force in gold and silver. Now strictly market is trading in the range as RSI for 18days is at present indicating 69.67, where as 50DMA is at 22484.1 and gold is trading above the same and getting support at 23117 and under could see a test of 23007 level, and confrontation is now likely to be seen at 23314, a move above could see prices testing 23401.
Silver rose amidst doubts of a debt contagion in Europe and doubt over how lawmaker plan to make your mind up deficit negotiations in the U.S. silver opened the week an intraday low of 58700. Silver gained up till now one more session alongside gold and hit an intraday high of 60523 as investors created insist through safe haven buying. Silver ended the day at a close of 59873. The gold silver ratio dropped to 39.84. We carry at the may pull back low of 39.21.
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