IIFL has come out with its fundamental view on Gold and Silver. As per the research firm one can buy MCX Gold December at Rs 29,000 for target price of Rs 29,250 and Stop Loss of Rs 28,800. Fundamental View Gold Prices traded higher, as stabilising political conditions in Europe and a weaker US dollar index underpinned the complete commodity complex. In this regard, Mario Monti, a former member of the European Commission, has been appointed by Italy’s president to form a new government, following the parliamentary consensus on a debt-cutting budget bill and the resignation of Prime Minister Silvio Berlusconi. On Greece front, the country’s new Prime Minister Lucas Papademos will try to push through austerity measures aimed at averting off nation’s bankruptcy. COMEX Gold (Dec) Recommendation: Buy at US$1,790, Target: US$1,815, Stop Loss: US$1,782. MCX Gold (Dec) Recommendation: Buy at Rs 29,000, Target: Rs 29,250, Stop Loss: Rs 28,800 Silver COMEX Silver prices registered gains of 1.7% by settling at US$34.7/ounce. Silver prices registered a high of US$34.9/ounce and a low of US$33.7/ounce. The white metal is buoyed by the strength in the precious metals complex. On the domestic front, MCX December Silver settled higher on Friday by 1.3% at Rs57,845/kg. Silver prices managed a high of Rs57,968/kg and a low of Rs,56,555/kg. Today, Silver prices are trading higher by 0.51% at Rs 57,991/kg. COMEX Silver (Dec) Recommendation: Buy at US$34.08, Target: US$34.80, Stop Loss: US$33.70 MCX Silver (Dec) Recommendation: Buy at Rs 57,900, Target: Rs 58,340, Stop Loss: Rs 57,800

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