Wednesday, June 6, 2012

MCX Bullion, Crude Updates Today

MCX Gold Updates

Gold futures prices touched a record level. Gold close to Rs 30,300 after arriving is currently trading above the 0.75 per cent. Gold price in international market is up by about $ 15. The international gold market is down 20 per cent to record levels. MCX Gold suggest that prices are trading in the range of 29900 and 30200. MACD is in a buy mode. We expect prices to go up to levels of 30200.

MCX Silver Tips

After a day of sluggish trading price of silver has exceeded the level of Rs 55000. Silver has gone up nearly 2 per cent. Silver in the international market is trading above $29. MCX Silver suggest that prices have breached the crucial resistance of 54700. RSI is in a buy mode. We expect prices to go up to levels of 55100.

Crude Updates

Oil rose for a third day in New York after economic reports bolstered speculation fuel demand will increase and crude stockpiles dropped in the U.S., the world’s biggest consumer of the commodity. With 1 per cent on MCX crude oil is trading at Rs 4735. MCX 0.5-2 per cent in the base metals have gone up. Nickel has the highest 2 per cent. With 1.3 per cent while copper is trading at Rs 411.20.