MCX Gold, Silver, Base Metals, Crude Oil Updates Today

Gold prices slashed by more than 1% on Thursday as sentiments  relating to debt crisis recovered somewhat. On Friday, COMEX Gold futures are again witnessing sharp fall of $ 10 and are  trading at $ 1771 per ounce. Indian Gold prices also tumbled to Rs 27470 per 10  grams, down from Rs 28154 per 10 grams on Wednesday.

Gold futures fell to its lowest since late August on Thursday, as efforts by global central banks and top European powers to end the region's debt crisis prompted investors to dump safe havens.

Copper prices rebounded from one-month low to end in green on Thursday boosted by a weaker dollar after reports of fresh liquidity injections by central banks in the fourth quarter cropped up. Crude oil prices gained on Thursday on getting news of assurance by the major central banks to bolster funding for European banks.

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MCX Commodity Market Updates Today | MCX Gold Tips

Gold prices moved higher, paring earlier losses. Gold prices may trade sideways with upward bias. Silver prices moved 2.4% higher, inline with the gains in the yellow metal. MCX December Silver settled higher by 2.8% at Rs 65,568/kg. Silver prices managed a high of Rs 65,690/kg and a low of Rs 63,998/kg. MCX December Silver is trading marginally lower by 0.17% today at Rs 65,459/kg. Base metals may trade on flat note. Crude oil prices can open in negative zone tracking weak overseas cues.

Spot Gold is currently trading at $1807, it is down by $12 for the day. MCX Gold October is currently trading at Rs. 27960, it is trading down by Rs. 192 for the day. Silver spot market is currently trading at $40.33. MCX Silver Dec contract is currently trading at Rs. 64620, it is marginally down by Rs. 165 for the day. Crude oil for October delivery dropped 29 cents, to  $88.61 a barrel on the NYMEX during Asian trading hours. MCX Crude is  currently trading at Rs. 4237, it is down by Rs16 for the day. All Base Metals in MCX are trading marginally positive today.

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MCX Commodity Market (Bullions, Metals, Crude) Updates Today

Today, Gold is trading higher, supported by reports that China is considering buying Italian bonds, providing a glimmer of hope to the perennial Europe`s debt-crisis.

Silver prices drifted 3.4% lower, depressed by the weaker tone in the yellow metal. COMEX October Silver registered a high of USD 41.6/ounce and a low of USD 39.8/ounce. On the domestic front, MCX December Silver settled lower by 2.1% at Rs 63,786/kg. Silver prices managed a high of Rs 65,358/kg and a low of Rs. 63,555/kg. MCX December Silver is trading 1.2% higher today at Rs 64,533/kg.

MCX Copper may note some gains tracking international markets, however the upside remains capped. Support for November copper is seen at Rs.412 while resistance is seen at Rs.424.

Crude oil pared earlier losses and managed to settle higher, as a rebound in Euro and the end of the trading session helped in the recovery of energy prices. Crude oil prices are expected to trade weak on account of gloomy global economic backdrop.

Gold for Dec delivery added  $16.40, to $1,829.70 an ounce on the Comex. MCX Gold October is currently  trading at Rs. 27893, it is up by Rs. 100 for the day. Silver spot market is currently  trading at $40.81. MCX Silver Dec contract is currently trading at Rs. 64398, it is  marginally up by Rs. 621 for the day. Crude Oil for October delivery rose 76 cents today and is trading at  $88.95 a barrel. MCX Crude Oil Sep contract is currently trading at Rs. 4187, it is  up by Rs. 27 for the day. All Base Metals in MCX are trading marginally negative today.

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MCX & NCDEX Commodity Market Updates

GOLD FALLS $200 FROM RECORD HIGH.
OIL TRADES NEAR ONE-WEEK HIGH IN LONDON ON FED SPECULATION, U.S. SUPPLIES.
COPPER UNDERPINNED BY CHINA, FED MEETING EYED.
DOMESTIC OIL AND OILSEED TRADE BEARISH.

Support and Resistance levels of MCX Commodity Market:

MCX SILVER (SEP)
TREND: Bullish   
R2: 65200
R1: 63800
S1: 59900
S2: 58400
STRATEGY: Buy on dips

MCX COPPER (AUG)
TREND: Bearish
R2: 428
R1: 422
S1: 410
S2: 405
STRATEGY: Sell on Higher levels

MCX CRUDE OIL (SEP)
TREND: Bearish
R2: 4075
R1: 4020
S1: 3890
S2: 3810
STRATEGY: Sell on Higher levels

NCDEX Agri Commodity Market Updates:

Pepper futures may hold gains on buying support and bullish sentiments.
Turmeric futures may show some volatile movements.
Jeera futures may remain sideways.
Chana futures may continue to face resistance at 3,250 levels.

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Support & Resistance levels of MCX Commodity Market

GOLD RETREATS FROM RECORD HIGH ABOVE $1,900/OZ.
CRUDE OIL RISES A SECOND DAY ON U.S. FUEL DEMAND, LIBYA CRUDE PRODUCTION OUTLOOK.
COPPER CLIMBS ON SPECULATION FED WILL TAKE STEPS TO BOLSTER U.S. ECONOMY.
INDIAN SPICES COMPLEX TRADE UP.

MCX SILVER (SEP)
TREND: Bullish   
R2: 66800
R1: 65350
S1: 62450
S2: 60500
STRATEGY: Buy on dips

MCX ZINC (AUG)
TREND: Bearish
R2: 105.05
R1: 102.75
S1: 96.60
S2: 94.20
STRATEGY: Sell on Higher levels

MCX NATURAL GAS (AUG)
TREND: Bearish
R2: 192
R1: 187
S1: 176
S2: 171
STRATEGY: Sell on Higher levels

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MCX Commodity Market Updates Today | MCX Gold Tips

The Multi Commodity Exchange (MCX), COMDEX is trading up by 4.73 points, or 0.13%, at 3,523.11 after opening at 3,519.74. MCX METAL is trading upward by 5.50 points, or 0.11%, at 5,044.58 after opening at 5,042.64. MCX ENERGY is trading up 2.04 points, or 0.08%, at 2,694.57 after opening at 2,679.99. MCX AGRI is trading up 9.55 points, or 0.34%, at 2,841.90 after opening at 2,833.62.

• Base Metals may continue to be under pressure as global outlook remains bleak.
• Copper prices furthered the gaining momentum on Monday.
• Aluminium, Nickel and Lead too fell tracking weakness in Copper prices.
• Zinc prices however managed to end with modest gains at $2193 a ton.
• Crude oil futures declined 3.7% last week to $82.26per barrel.
• NYMEX crude fell 3.7% last week marking its fourth weekly decline.
• NYMEX natural gas fell 3% last week marking its fourth weekly decline in five weeks.

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