MCX Gold futures recovered in early moves following bounce in global prices as traders eyed a benign assessment of the US economy by the Fed yesterday. The minutes of the April Federal Open Market Committee (FOMC) meeting showed that many committee members felt it was unlikely economic data would support a June rate hike. This helped COMEX Gold trim its losses after testing a one week low though the metal is failing to hold onto its rallies today. COMEX Gold quotes at $1208.70 per ounce, unchanged on the day after hitting high above $1212 per ounce.
BUY GOLD JUN ABOVE 27250 TGTS 27330,27430 SL 27160
BUY SILVER JUL ABOVE 39500 TGTS 39600,39900 SL 39100