Bullions traded volatile declining from a record after president Barack Obama said congressional leaders agreed on a plan to prevent a default where as rising at the later sessions as the weaker US Manufacturing details spurred heaven demand.
Gold traded too volatile fell till 1608 and than rose to USD 1,631.90 an ounce on the Comex. At the Domestic level it fell till 23300 while making high of 23600 at the later part of the day.
Silver prices also traded zigzag fell to USD 39. 4 an ounce where as rising till 39.89. MCX Silver break 57700 level where as rising till 58900 level int he later sessions.
Holdings of the SPDR Gold Shares Trust (GLD) increased by a rise of 18 tonns standing at 1263.58 tonnes while holdings at the iShares Silver Trust (SLV) remained intact at 9915.86 tonns.
The gloomy economic outlook at US & Europe supports the Bull Run but the Debt limit results may give surprise results..
Gold: S1 22470, S2 22350, R1 23650, R2 23720
Silver: S1 58000, S2 57300 R1 59000 R2 60000
Courtesy: Edelweiss Comtrade Limited Research
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