Tuesday, July 26, 2011

MCX Gold & Silver Tips & other Commodity news today

MCX Gold & Silver futures may remain sideways. Gold prices held record high on Tuesday. MCX silver prices remain very up and down in intraday bases. That's why traders are adopting a wait-and-watch policy before investing in silver. Base metals prices opening higher on today. MCX Copper prices are very affected by risks in global copper supply. Fall in demand from consuming industries in the spot market may put some pressure on Zinc futures prices. Crude oil prices may remain sideways. US crude futures fell below USD 99 a barrel on Tuesday. Natural gas futures may remain downside. High natural-gas production is still limiting the upside for futures in the international market.

MCX Copper August  
Support: Rs 428 
Resistance: Rs 440

MCX Aluminium July 
Support: Rs 114 
Resistance: Rs 117

MCX Zinc July
Support: Rs 108 
Resistance: Rs 112

MCX Nickel July
Support: Rs 1,045 
Resistance: Rs 1,085

MCX Lead July
Support: Rs 118
Resistance: Rs 122