Spot Gold hovered near $1,580 an ounce on Friday ahead of the release of a key US job market report. Encouraging U.S. employment data and lack of monetary easing moves from major central banks muted buying interest in Gold. MCX Gold and Silver opened slightly negative following appreciation in INR against USD. Precious metals at MCX may trade sideways to bearish for today's trading session. MCX Gold April futures has important support at Rs 29300 and resistance at Rs 29500 for the day. MCX Silver May contract may trade with in range of Rs 54000-55200. This evening US non pay rolls data will release which expected to have negative impact on Bullion commodities. Intra-day traders are advised wait till evening before entering into fresh trade.
Silver May MCX Sell around 55000 SL 55300 TGT 54600