Commodity market has gone under pressure after US federal Reserve announcement to end QE. Gold has come to decline in global market gold has came to near $1210 while in domestic market slipped below 27000. Silver has down trend also at MCX Silver December future slipped 2.14% to RS 37455.
It notable when QE began in 2008 , since than gold gained nearly 70%, but after starting cut in QE by federal reserve in every month since gold price under pressure. Now everyone see on interest rates. Although the Fed indicated to give more time on interest rates.
MCX Silver 05DEC2014 (Future) Sell below 37485 target 37194 stop loss 37685.
MCX Gold 05DEC2014 (Future) Sell below 26745 target 26542 stop loss 26922.