Thursday, May 19, 2011

MCX Trading Tips and Commodity Market (Bullions) report today

At the Multi Commodity Exchange (MCX), MCX COMDEX opened negative after a rise of 2.50% on Wednesday. It is currently trading lower by 9.08 points, or 0.26%, at 3,422.62 after opening at 3,429.93. Other index like MCXMETAL is trading downward by 7.78 points, or 0.18%, at 4,436.53 after opening at 4,439.69. MCXAGRI is trading up 3.74 points, or 0.15%, at 2,562.67 after opening at 2,560.69 and MCXENERGY is trading down by 19.76 points, or 0.62%, at 3,178.89 after opening at 3,186.28.

Gold prices declined by Rs 54 to Rs 21,925 per 10 grams in futures trade today on profit booking by speculators amid a weak global trend. At the Multi Commodity Exchange, gold for delivery in June declined by Rs 54, or 0.25% to Rs 21,925 per 10 grams, in a business turnover of 1,319 lots.

Likewise, the metal for August delivery contract lost Rs 46, or 0.21% to Rs 22,168 per 10 grams, with a business volume of 140 lots. Meanwhile, gold traded lower by 0.04% to USD 1,496.30 an ounce in Asian region.

Gold may see support at Rs 21,900, 21770, and resistance at Rs 22,100, 22,200.

Silver
likely to find support at Rs 53,000, 52,200, while resistance at Rs 54,200, 54,700.

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