Weaker European concern once again being the reason for investors to build the buying in Bullions with the festival season at the world's largest consuler supporting the trend.
Gold futures gained for the second straight day at COMEX as the sagging European economy spurred demand for the precious metal as an investment haven.
COMEX continued heading towards high touching $1790 where Silver touched $40.20.
At the domestic front Silver ranged till 60200 where as Gold headed till 26200.
After heading for the near record highs, Holdings at the World's Largest Gold and Silver started line gering taking the advantage of high prices. SPDR Gold holding stood at 1260.173 tonns where as iShare silver holdings were 9705.89 tonns.
Even after Rise in the CME margins the investors continued taking positions in bullions paving the way for bull run on weaker European concerns. Hence, it is advisable to bulid the buying at lower levels.
Gold: S1 26000, S2 25750, R1 26280 R2 26350
Silver: S1 59500, S2 58000 R1 60500 R2 61500
Courtesy: Edelweiss Comtrade Limited Research
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