Gold Silver Reports — Nickel MCX Under Fresh Selling Support Key 548 — Technically Nickel market is under fresh selling as market has witnessed gain in open interest by 7.31% to settled at 47195 while prices down 12.6 rupees.
Analysis
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Silver MCX Strong Support Key Between 37300—39700
Gold Silver Reports — Silver on MCX settled down -1.35% at 38052 adding to overnight losses after the Federal Reserve left the door open to raising interest rates in June.
Silver MCX Strong Resistance Level at 41333
Gold Silver Reports — Technically market is under short covering as market has witnessed drop in open interest by 1.39% to settled at 13655 while prices up 311 rupees.
MCX Silver Intraday Trading Zone 39980—41640
Gold Silver Reports — Technically Silver market is getting support at 40287 and below same could see a test of 39980 level, And resistance is now likely to be seen at 41072, a move above could see prices testing 41640.
Gold Spot Weekly Forecast Report March 6-10
Gold Silver Reports ⭐⭐⭐⭐⭐ — Gold prices declined in last week’s trading as the US dollar index (DXY), which measures the greenback’s strength against a basket of six major currencies, rallied. Gold prices fell to a low for the week on Friday, at $1,223 an ounce, the lowest level traded since February 15. At week’s end, however, the contract for April settlement on the COMEX division of the New York Mercantile Exchange ended well off the low of the day at $1,235/ounce. This represented a loss of 1.8% for the week overall.