Weekly MCX Commodity Market Updates & Tips

Gold (April): Gold is expected to move in the range of 29000-29800 during the week ahead.

Silver (May): Silver is expected to move in the range of 51000-54500 during the week ahead. 

Crude Oil (Apr.): Crude is expected to move in the range of Rs 5300-5500 during the week ahead. 

Natural Gas (Apr): Natural Gas is expected to move in the range of 215-228 during the week ahead.

Copper (April): Copper is expected to move in the range of 400-420 during the week ahead.

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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.

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NCDEX ~ Agri Commodity Market Tips and Updates Today

Pepper futures to trade lower for the day. Pepper April futures prices are expected to extend the bearish trend on sluggish spot market activity. Turmeric prices are expected to extend the down trend amid rising arrivals at spot front. Outlook for Jeera is down for the day. Jeera April futures prices are expected to trade on lower note extending the losses. Cardamom futures prices are expected to trade slightly lower initially during the day. Guar Complex is expected to trade lower for the day. Outlook for Soybean is up for the day. Outlook for Chana is  sideways to up for the day.

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Weekly MCX Commodity Market Updates

MCX Gold February
MCX Gold can trade in range of 29,000-29,500 in near term. Gold prices have reversed after taking support at 28,600 levels. Immediate resistance is at 29,300 levels. If this resistance is breached we expect prices to go up to 29,800 levels.

MCX Silver March
The daily price chart suggest that prices is taking support at levels of 55,900. Immediate resistance is at 57,500 levels. If we get a close above 57,500 we expect prices to go up to levels of 59,000.

MCX Copper February
MCX Copper Resistance is at 413 levels. If this resistance is breached we expect prices to go up to 426 levels.

Copper may trade in range of 405-411 in MCX while lead and zinc may remain in range of 106.50-108.50 and 104-106. Crude oil may trade in range of 5,100-5250 in near term.

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MCX Commodity Market Updates Today, MCX Gold Tips

GOLD EASES AFTER ECB COMMENTS, TRADE VOLATILE.
CHINESE TRADE DATA DRAINS COPPER MARKET SENTIMENT.
DOMESTIC OIL AND OILSEED TRADE LOW ON PROFIT BOOKING.
CRUDE OIL FALLS FOR A SECOND DAY ON SPECULATION U.S. AND CHINA DEMAND WILL SLOW.

Yesterday, all MCX Commodity Market products were closing at down prices or negative, only Natural Gas was closed on positive. We assume that today all products in MCX Commodity Market will open on High Prices and trading flat for the day.

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MCX-NCDEX Commodity Market Updates & News Today

Today all the sectors in MCX Commodity Market are trading at lower prices. MCX Gold and Silver Prices are down and trading at lower prices today. All Base Metals and Energy Products prices are also down and trading at lower prices.
MCX Gold Dec is trading at Rs. 26730, it is down by Rs. 134 for the day. MCX Silver Dec contract is trading at Rs. 53460, it is trading down by Rs. 696 for the day. MCX Crude Oct is trading at Rs. 4164, it is trading down by Rs. 41. All base metals are trading in negative territory today.

Precious metals are trading lower on COMEX today.
Base metals are trading lower on International bourses today.
Crude oil is trading lower on NYMEX today.

NCDEX Agri Commodity Market News:-
Pepper futures to trade higher for the day. Outlook for Soybean is seen sideways to up for the day. CPO is expected to trade sideways to higher for the day. Guar Complex is expected to trade lower for the day. Outlook for Chana is up for the day. Outlook for Jeera is sideways to down for the day.

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MCX Gold, Silver, Copper, Crude, Natural Gas Trading Tips for next week

GOLD
For the next week MCX Gold below 26000 it can test the level of 25550/25050/24600. Trade by keeping the strict stop losses.

Major support in MCX Gold is 26500 and 25200
Major resistance in MCX Gold is 28300 and 28800

SILVER
For the upcoming week MCX Silver 62000 and 65000 will act as major resistance and 49000 and 45000 will act as major supports.

COPPER
Copper is in a consolidation phase and traders should use the strategy of sell on higher levels. In MCX Copper sustains below 360 then it can test the level of 355/351/346 if it does not break the level of 370.20 on the upside. For the upcoming week MCX Copper major resistance would be 387 and 402 and supports would be found at 340 and 325.

CRUDE
NYMEX Crude is in consolidation phase. For the coming week MCX Crude Oil major resistance is found at 4130 and 4260 and major supports will be 3750 and 3550. For the next week traders can use sell on higher level strategy. In MCX if Crude sustains below 3940 then below 3860 it can test the level of 3790/3722/3663 in this week. Trade by keeping the proper stop loss.

NATURAL GAS
Natural Gas is in a consolidation phase and traders should use the strategy of selling on higher levels. In MCX, if Natural Gas sustains below 186 in the
coming week then it can test the level of 180/176/173, if it does not break the level of 192 on the upside. For MCX Natural Gas major resistance would be 194 and 205, supports would be found at 165 and 154.

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MCX Commodity Tips- Gold, Silver, Copper and Crude Updates Today

Gold prices can open on negative path tracking weak international cues as the rise in green back and expectation of some stimulus from the fed in upcoming meeting is prompting investors to book profit at higher levels. Gold can trade in range of 27,600-28,500 in near term. Base metals may remain in tight range amid mixed fundamentals. Crude oil prices can slide further tracking weak overseas cues.

Gold prices have receded further on Monday despite the plunge in equities and the risk aversion sentiments. Copper prices have fallen on Monday after witnessing a good move in last session. Crude prices have declined further as the dollar strengthened against Euro after the latest jitters in the euro-zone. 

Precious metals are trading lower on COMEX today.
Base metals are trading lower on International bourses today.
Crude oil is trading lower on NYMEX today.

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MCX Commodity Market Updates Today

Gold prices extended the gains last week, as concerns over the outlook for global growth and rising fears that the US economy is losing more momentum. Gold prices are most likely to continue their bullish trend over the coming period.

COMEX Silver gained 3.7%, breaching the key levels of USD 43/ounce, witnessing a high of USD 43.5/ounce. The white metal was significantly influenced by the firm tone in the precious metals complex. MCX December Silver is trading 0.58% higher today at Rs 66,286 /kg, registering intraday high of Rs 66,350/kg and low of Rs 66,050/kg. MCX September silver prices ended higher on Friday, settling at Rs 64,282/kg.

Base metals was a volatile session last week amid mixed global cues. Copper prices rose on Tuesday and Wednesday hitting highs of $9304 at LME but pared almost all  its gains on Thursday and Friday to end the session $1 higher at $9076 a ton. Aluminium and Nickel too ended in positive territory while Lead and Zinc noted decline.

• NYMEX crude plunges more than $1 Monday after 1.3% gain last week. 

• NYMEX crude rose 1.3% last week marking its second weekly gain. 
• NYMEX natural gas fell 1.5% last week marking its third weekly decline. 
• Natural gas speculators cut net short position for the first time in five weeks.
 

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MCX Commodity Market Updates for Monday

GOLD RETREATS FROM UPWARD RALLY ON PROFIT BOOKING.
CRUDE OIL FALLS ON WEAK JOB DATA HINTING RECESSION.
COPPER DROPS ON STAGNANT EMPLOYMENT DATA.
DOMESTIC OIL AND OILSEED TRADE LOW.

MCX SILVER (Dec)
TREND: Consolidate
R2: 67800
R1: 66960
S1: 64400
S2: 63500
STRATEGY: Buy on dips

MCX COPPER (NOV)
TREND: Consolidate
R2: 431
R1: 425
S1: 415
S2: 410
STRATEGY: Sell on higher levels

MCX CRUDE OIL (SEP)
TREND: Consolidate
R2: 4080
R1: 4030
S1: 3925
S2: 3880
STRATEGY: Buy on dips

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MCX Commodity Market Updates Today | MCX Gold Tips

Gold for Dec delivery declined $2.60, to $1,829.10 an ounce on the Comex. Spot Gold is currently trading at $1828. MCX Gold October contract settled yesterday at Rs. 27215, it was up by Rs. 31. Silver spot market is currently trading at $41.64. It is up by 17 cents for the day. MCX Silver Dec contract settled yesterday at Rs. 64145.

All Base Metals in MCX are trading on a negative note for the day. Crude for October delivery fell 32 cents, to $88.61 a barrel on  the Nymex. MCX Crude Oil Sep contract is currently trading at Rs. 4075, it is down  by Rs. 18 for the day.

• Weakness in equity markets is weighing on crude oil prices. 
• NYMEX gas trades weaker Friday after 0.1% slide yesterday.  
• Gold trades higher on safe-haven demand.
• Base metal and crude trade lower on rising rise aversion.
• NYMEX crude trades in a narrow range  over $88/bbl ahead of US jobs data. 

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Support & Resistance Levels of MCX Commodity Market Today

GOLD RECOVERS FROM LOWS AS STOCKS RETREAT; FED EYED.
CRUDE OIL DECLINES IN LONDON ON SIGNS OF SLOWING ECONOMIC RECOVERY IN U.S.
COPPER FALLS ON CHINA EXPORTS, EUROPE FACTORY DATA.
MCX SILVER (Dec)
TREND: Consolidate
R2: 66800
R1: 65900
S1: 63100
S2: 61950
STRATEGY: Buy on dips

MCX COPPER (NOV)
TREND: Consolidate
R2: 434
R1: 428
S1: 416
S2: 412
STRATEGY: Buy on dips

MCX CRUDE OIL (SEP)
TREND: Consolidate
R2: 4175
R1: 4130
S1: 4040
S2: 3980
STRATEGY: Buy on dips

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Weekly MCX Commodity Market Updates

MCX Gold October for the next week we expect gold prices to find initial support at 27150-27100 levels and further below strong support is observed at 26500 levels. Resistance is now observed at 28200-28250 levels.

Trading levels for the week (29.08.11 TO 02.09.11)
Trend: Bullish
S1: 27150        R1: 28800
S2: 26500        R2: 29930

Recommendation: Buy MCX Gold October in the range of 27200-27100 with strict stop-loss below 26400  Targeting initially 28150 and then 28700.

MCX Silver December for the next week we expect Silver prices to find initial support at 63800-63700 levels and further below strong support is observed at  61200-61100 levels. Resistance is now observed at  65900-66000 levels.

Trading levels for the week (29.08.11 TO 02.09.11)
Trend: Bullish
S1: 63700         R1: 68700
S2: 61100         R2: 72200 

Recommendation: Buy MCX Silver December in the range of 63800-63700 with strict stop-loss below 61000  Targeting initially 68150 
and then 68700.

MCX  Copper November for the next week we expect Copper prices to find initial support at 416-414 levels and further below strong support is observed at 408-407 levels. Resistance is now observed at 430-431 levels and strong resistance is seen at 436-438 levels.

Trading levels for the week (29.08.11 To 02.09.11)
Trend: Bullish
S1: 416               R1: 430
S2: 407                R2: 438

Recommendation: Buy MCX Copper November in the range of 417-415 with strict stop-loss below 405  Targeting initially 430 and  then 436.

MCX  Crude September for the next week we expect Crude prices to find initial support at 3800-3790 levels and further below strong support is observed at  3650-3640 levels. Resistance is now observed at 4040-4060 levels.

Trading levels for the week (29.08.11 TO 02.09.11)
Trend: Bullish
S1: 3795                R1: 4040
S2: 3646                R2: 4170

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MCX Commodity Market Updates Today | MCX Gold & Silver Tips

Gold prices staged a recovery, with the yellow metal settling moderately higher. Silver futures witnessed impressive gains yesterday, previous session losses. MCX Silver is trading 0.58% lower today at Rs 61,590/kg, registering intraday high of Rs62,124/kg and low of Rs61,537/kg. MCX silver prices ended 3.5% higher yesterday. Copper futures moved higher, with gains witnessed across the base metals complex.

• MCX Gold October contract is currently trading at Rs. 26574, it is up by Rs. 187  for the day.
• MCX Silver Sep contract is currently trading  at Rs. 61705, it is down by Rs. 282 for the day.
• MCX Crude Oil is currently trading at Rs. 3938, it is down by Rs. 12 for the  day.
• All Base Metals in MCX are trading marginally negative today.

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Commodity Market Updates Today

MCX Commodity Market News:

Gold dropped 3.6% on Tuesday from the record USD 1,918 to USD 1,826. Silver also fell more than 5% from USD 44 to USD 41.5 following the Gold steps. Gold prices may remain in red zone and it can test 27,300 in MCX. Base metals may also trade with positive bias tracking firm opening SHFE. Copper may trade in range of 398-407 while lead can trade in range of 105-108 in MCX. Crude oil may remain on flat note ahead of the key inventory report scheduled today.

Important support for Gold is USD 1,810 and 27,350 at MCX, while for silver USD 41.3 and Rs 62,800 are important supports. MCX Crude Oil has support at 3,830 and resistance at 3,950.

NCDEX Agri Commodity Market News:

Cardamom futures may remain downside.  

Turmeric futures may trade bearish due to lack of fresh cues from the spot markets.  

Pepper futures may hold gains as demand outstrips supply.  

Jeera futures may remain range bound facing resistance near 16200 levels.

Chana futures (Sept) may remain sideways facing resistance near 3,250 levels. Mentha oil futures may remain sideways facing resistance near 1140 levels. Soybean futures may remain sideways holding support above 2300 levels. Refined soy oil futures may remain sideways holding support above 656 levels.

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