Commodity Market Update for the Week (23rd – 28th May ’11)

Commodity which I picked for the next week is Gold. Gold is in consolidation phase so traders should use the strategy of buying on lower levels If MCX Gold above the level of 22225 it can test the level of 22315 if it does not break the level of 22000 on the downside. The next commodity which I picked is silver, silver is also in a consolidation phase So traders can use the strategy of buying on lower level if silver sustains above the level of 54300 then it can test the level of 54500.