COMEX Gold futures witnessed heavy profit booking, as stronger tone in global equities led to diversification of funds from the precious metals complex. COMEX Silver futures witnessed moderate liquidation, settling 0.6% lower at USD 41.6/ounce. COMEX October Silver registered a high of USD 42.3/ounce and a low of USD 40.4/ounce. MCX December Silver ended 0.4% lower yesterday at Rs 64,366/kg. Volatility was characterized as usual with a high of Rs65,088/kg and a low of Rs,62,763/kg. MCX December Silver is trading 0.25% higher today at Rs 64,528/kg.
Spot Gold is currently trading at $1830. MCX Gold October settled low yesterday at Rs. 27182, it was down by Rs. 787 for the day. Silver spot market is currently trading at $41.52. MCX Silver Dec contract settled yesterday at Rs. 64366, it was marginally down by Rs. 239 for the day. Crude for October delivery added $3.32, to $89.34 a barrel on the NYMEX. MCX Crude Oil Sep contract settled at Rs. 4125, it rose by 4.94% for the day. All Base Metals in MCX are likely to open flat for the day.
MCX Copper may note some decline tracking international markets, however the downside remains capped. Support for November copper is seen at Rs.417 while resistance is seen at Rs.426. MCX Aluminum may note some decline tracking copper prices. Support for Aluminum September contract is seen at Rs.109 while resistance of Rs.112.5. MCX Zinc may note some decline tracking copper prices. Support for MCX Zinc September contract is seen at Rs.101.5 while resistance is seen at Rs.104.5. MCX Nickel may note some decline tracking international markets, the downside however remains capped. Support for MCX Nickel September contract is seen at Rs.980 while Resistance is seen at Rs.1,025. MCX Lead may note some decline tracking copper prices. Support for MCX Lead September contract is seen at Rs.111 while Resistance is seen at Rs.114.
Spot Gold is currently trading at $1830. MCX Gold October settled low yesterday at Rs. 27182, it was down by Rs. 787 for the day. Silver spot market is currently trading at $41.52. MCX Silver Dec contract settled yesterday at Rs. 64366, it was marginally down by Rs. 239 for the day. Crude for October delivery added $3.32, to $89.34 a barrel on the NYMEX. MCX Crude Oil Sep contract settled at Rs. 4125, it rose by 4.94% for the day. All Base Metals in MCX are likely to open flat for the day.
MCX Copper may note some decline tracking international markets, however the downside remains capped. Support for November copper is seen at Rs.417 while resistance is seen at Rs.426. MCX Aluminum may note some decline tracking copper prices. Support for Aluminum September contract is seen at Rs.109 while resistance of Rs.112.5. MCX Zinc may note some decline tracking copper prices. Support for MCX Zinc September contract is seen at Rs.101.5 while resistance is seen at Rs.104.5. MCX Nickel may note some decline tracking international markets, the downside however remains capped. Support for MCX Nickel September contract is seen at Rs.980 while Resistance is seen at Rs.1,025. MCX Lead may note some decline tracking copper prices. Support for MCX Lead September contract is seen at Rs.111 while Resistance is seen at Rs.114.
