Posted by: admin in: Uncategorized
Gold prices are trading just above unchanged in early U.S. dealings Monday, supported on short covering by the shorter-term traders and on some bargain hunting following Fridays losses. April gold was last up $1.80 at $1,340.00 an ounce. Spot gold was last quoted up $0.50 at $1,340.50. May Comex silver last traded down $0.107 at $20.79 an ounce.
There was downbeat economic data coming out of China over the weekend. Its exports fell by 18% in February, year-on-year, it was reported Saturday. A 5% increase in exports was expected from the world-largest economy in February. Chinas trade deficit in February was $23 billion, compared to a $32 billion surplus in January. This surprising news put pressure on Asian and European stock markets, as well as the raw commodity sector, to start the trading week.
TRADING LEVELS FOR EVENING SESSION
MCX MARCH SILVER
SUPP 45670 46320 45980
RES 46350 46770 47060
WAIT FOR CONFIRMATION ,
MONDAY 6.20 PM IST
Silver dollar trading weak below $ 21
Again could test $ 20.5 to $ 20.3
MCX Silver looks weak below Rs 46000
Again to test 45600 / 45400 levels