Wednesday, February 22, 2012

MCX Gold and Silver Tips, Copper and Crude Updates, NCDEX Tips

Gold prices can trade in range of 28,250-28,500 while silver can trade in range of 56,500-57,200. Gold held steady on Wednesday near its highest level in more than two weeks. Copper may trade in range of 420-428 while lead may remain in range of 101-103.5 and nickel in range of 985-1005. Support for February copper is seen at Rs.412 while resistance is seen at Rs.424. Crude oil can trade in range of 5,150-5,250 in near term.

NCDEX Agri Commodity Market Updates Today 22 Feb 2012:
Pepper futures may trade higher surpassing 32,500 levels as there is positive sign of price increase from cash markets. Turmeric futures may trade range bound holding above 4700 levels. Cardamom futures may remain supportive over 800 levels on bullish sentiments. Jeera futures may continue to shed downside. Chana futures may trade higher on reports of weather concerns.

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