Bullion Update, Precious Metals Trading and Market Outlook: Nirmal Bang
Gold: The counter shouted up in the later sessions yesterday from the bottom taking support from the 40 DMA and closed above the triangle. Thus the counter indicates strength in the counter. The RSI is seen improving while there is a positive crossover by the +DI. Therefore the overall move indicates positivity in the counter and breaching 15690 prices can move further targeting 15780 and 15850 in near term.
Silver: The counter rallied up yesterday in the later session closing above the triangle. The RSI is seen steadily improving at the lower levels, however there is no signal from the ADX. But the overall movement indicates upside in the counter above 26000 levels targeting 26700 and 26900 in near term.