Mcx gold future on 4th may 2016 closed at 30003. Gold prices are correcting as expected towards major support zone of 29750.
For 5th may 2016, mcx gold intraday support zones are 29780 and 29490. On upside 30050 and 30230 are resistances. Traders can sell above resistance with SL for intraday.
Mcx silver future on 4th may 2016 closed at 41295. Silver also correcting as expected towards 40k support. For intraday, 40700 and 40200 are support zones while 41600 and 42300 are resistances. Keep sell on rise view.