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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Support and Resistance levels of MCX Commodity Market

GOLD BUOYED BY UNCERTAINTY AHEAD OF FED MINUTES.
CRUDE OIL FALLS FROM TWO-WEEK HIGH IN NEW YORK ON U.S. SUPPLY FORECASTS.
COPPER RISES TO THREE-WEEK HIGH IN LONDON TRADING ON U.S. GROWTH OUTLOOK.
DOMESTIC OIL AND OILSEED ERASES EARLY HIGHS AND TRADE LOW.

MCX SILVER (SEP)
TREND: Bullish  
R2: 65200
R1: 63400
S1: 60600
S2: 59200
STRATEGY: Buy on dips

MCX COPPER (AUG)
TREND: Bearish
R2: 434
R1: 428
S1: 417
S2: 412
STRATEGY: Sell on Higher levels

MCX CRUDE OIL (SEP)
TREND: Bearish
R2: 4210
R1: 4150
S1: 4030
S2: 3980
STRATEGY: Sell on Higher levels

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MCX Commodity Market Updates & News Today

The Multi Commodity Exchange (MCX), COMDEX is trading down by 30.16 points, or 0.84%, at 3,562.54 after opening at 3,590.98. MCXMETAL is trading downward by 69.73 points, or 1.37%, at 5,017.49 after opening at 5,054.00. MCXENERGY is trading down by 9.13 points, or 0.32%, at 2,801.84 after opening at 2,806.50. MCXAGRI is trading up 0.89 points, or 0.03%, at 2,886.56 after opening at 2,885.97.

Spot gold prices declined 0.7% to $1,815.16 an ounce on the Comex division of the New York Mercantile Exchange. Copper futures for December delivery slipped 0.05% to $4.115 per lb on the Comex metals division of the New York Mercantile Exchange. Benchmark crude for October delivery rose 11 cents to $85.48 a barrel on the New York Mercantile Exchange. In London, Brent crude for October delivery eased 0.45 cents to $110.91 a barrel on the ICE Futures exchange.

• NYMEX crude rose 3.8% last week marking its first gain in five weeks. 
• Crude oil rose last week amid rally in US equity markets and weakness in the US dollar. 
• Crude oil speculators raised net long position for the first time in four weeks. 
• NYMEX natural gas fell 0.2% last week marking its second weekly decline. 
• Natural gas fell last week amid mild weather forecasts and lack of storm threat.
• Natural gas speculators raised net short position for the fourth consecutive week.

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Commodity Market Updates Today

MCX Commodity Market Updates:

Gold may trade with positive bias but caution is advised at current levels because some profit booking at current levels cannot be denied. Silver may also open on flat note and can trade in range of 59,000-60,500 in MCX. Base metals may also trade choppy on mixed sentiments. Copper edged up in early trading on Wednesday. Copper may trade in range of 390-410 in near term. Range bound movement can be seen in Crude oil counter as investors should eye the EIA weekly inventory report today. Crude oil has stiff resistance at 4,000 levels in MCX.

NCDEX Agri Commodity Market Updates:
Pepper futures may trade higher owing to tight supply on global market. Turmeric futures may remain sideways. Jeera futures may remain sideways taking support above 15,380 levels. Cardamom futures (Sept) may continue to face resistance at 830 levels owing to on-going harvesting season.

Other commodities: Chana futures may remain sideways owing to sluggishness prevailing at the spot markets. Sugar futures may remain sideways. Guar complex may remain downside due to diversion of area under production. Crude palm oil (CPO) futures on Bursa Malaysia Derivatives (BMD) shaved off initial gains made during the day. Soybean futures may face resistance at 2480 levels.

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MCX Commodity Market Updates and News Today

The Multi Commodity Exchange (MCX), COMDEX is trading up by 14.03 points, or 0.41%, at 3,447.29 after opening at 3,432.29. MCXMETAL is trading upward by 22.25 points, or 0.47%, at 4,765.75 after opening at 4,740.97. MCXENERGY is trading up 8.76 points, or 0.32%, at 2,788.46 after opening at 2,810.36. MCXAGRI is trading up 10.99 points, or 0.39%, at 2,817.52 after opening at 2,808.31.

Gold prices bounced back on Monday as traders resorted to safe haven buying after US economic reports indicated continued stress on the economy. Copper prices increased for the third straight session on Monday. Crude oil prices made a good rebound on Monday.

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MCX & NCDEX Commodity Market Updates

Precious metals are trading mixed in COMEX today. Base metals are trading higher on International bourses today. Crude oil is trading marginally higher on NYMEX today. Gold prices receded from historical record levels on Thursday. Copper prices staged a strong performance on Thursday. The crude oil prices surged once again on Thursday and prices moved higher by over 3 percent for the day.

CHANA NCDEX AUG CLOSE PRICE 2976- Chana has support at 2950 which if breached can be seen approaching 2925. Whereas resistance is at 3005-3028. Mixed trade with firm bias is expected today.

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MCX Commodity Market Updates Today | MCX Gold Tips

Gold may continue its historic bull run as its prices are making new high each day. Today both bullions metals Gold & Silver trading in higher prices. MCX Gold prices can trade in the range of Rs. 26,000-26,500 and MCX Silver prices can trade in range of Rs. 58,500-60,000 on domestic bourses.

Volatility in the base metals will persist on mixed sentiments. MCX Copper may trade in range of 385-395 on domestic bourses while MCX Nickel may also trade in range of 945-980 in near term.

Crude oil may tad further lower and witness profit booking but will be in range of 3,650-3,750 in MCX. MCX benchmark oil futures may start today session below Rs 3700 levels with  support around Rs. 3640-50 levels.

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MCX Commodity Market Updates & Report Today

Gold prices face stiff resistance near USD 1,780 in COMEX and it can dip towards USD 1,720-1,700 in near term. Silver can trade in range of 56,500-58,500 in MCX. Base metals may remain on positive note tracking firm international markets. Crude oil may open gap up in MCX tracking positive international markets. MCX Gold October contract is currently trading at Rs. 25742, it is up by Rs. 11 for the day. All Base Metals in MCX are trading on a positive note for the day. MCX Crude Oil Aug is trading at Rs. 3690, it is up by  Rs. 27 for the day.

• NYMEX crude trades higher Wednesday after 2.5% slide yesterday.

• Higher equity markets and API report support crude oil price. 
• NYMEX natural gas trades little changed after 1.5% gain yesterday. 
• Dip buying and recovery in crude oil supports natural gas price.

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MCX Commodity (BULLIONS, METALS, CRUDE) Updates Today

Bullions may trade with strong bias. MCX Gold can test Rs. 26,000 while MCX silver again test Rs. 61,500 in near term. Base metals may also plunge lower tracking weak opening in international markets. Copper may further dip lower towards 380 in MCX. Lead and zinc can test 90 in MCX in near term. Crude oil may remain on weaker note tracking negative opening in international markets and it can test 3,600 in MCX soon.

Precious metals are trading higher on COMEX today. 

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

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Support & Resistance levels of MCX Commodity Market Today

GOLD TOPS $1,700 FOR FIRST TIME ON U.S. RATING.
CRUDE TUMBLES TO ALMOST EIGHT-MONTH LOW AFTER S&P DOWNGRADES U.S. RATING.
COPPER FALLS, CAPS BIGGEST WEEKLY DROP SINCE JUNE 2010 ON GROWTH CONCERNS.
INDIAN SPICES COMPLEX TRADE LOW.

MCX GOLD (OCT)
TREND: Bullish       
R2: 25950
R1: 25700
S1: 24990
S2: 24650
STRATEGY: Buy on dips

MCX COPPER (AUG)
TREND: Bearish
R2: 409
R1: 403
S1: 389
S2: 384
STRATEGY: Sell on Higher levels

MCX CRUDE OIL (AUG)
TREND: Bearish
R2: 3890   
R1: 3820
S1: 3730
S2: 3680
STRATEGY: Sell on Higher levels

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