MCX Bullion Market Tips and Market Analysis Report

A sharp fall in gold prices is good news for gems and jewellery exporters who will be able to source yellow metal at lower rates and compete better in the global market.
After seeing the steepest ever fall of Rs 1,540 per ten gram in a single intra-day market, gold lost Rs 600 on Monday on cues from the global market where investors are busy shuffling their investment portfolios.
Gold closed the day at Rs 26,740 per 10 grams in the Delhi market.
The exporters feel that they would stand to gain if gold prices continue to decline, along with a fall in rupee against dollar. The Indian currency is near Rs 50-to-a-dollar mark, weakening by about nine% within this month. A weak local currency results in higher net realisation for foreign exchange earned by exporters.

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MCX & NCDEX Agri Commodity Market Updayes

Gold prices may open on firm note tracking firm opening in international markets. Spot gold rose 0.7% on Monday, extending the previous session`s 1.2% rise. Base metals may remain under selling pressure and can trade lower. Copper may trade in range of 410-419 on domestic bourses. Crude oil prices can also dip lower. Crude oil prices can again test 4,100 in domestic market.

Industrial Metals continued to witness mixed movement last week even as Copper, Lead and Zinc  ended on a lower note while Aluminium and Nickel managed to close in positive territory.

Copper prices hit highs of $8880 a  ton at LME but pared all its gains to end the session $125 or  1.42% lower at $8696 a ton. 
Base Metals may witness very volatile movement this week. 

NYMEX crude falls more than $1 Monday amid choppiness in equity markets and stronger US dollar. 
NYMEX crude rose 0.8% last week marking its fourth weekly gain. 
NYMEX natural gas fell 2.7% last week erasing all the gains noted a week ago. 
Natural gas fell last week amid mixed weather forecasts and bigger than expected rise in stocks.  

NCDEX Agri Commodity Market Updates:-

Pepper futures may trade firm holding the gains. Cardamom is likely to remain sideways on the back of higher arrivals and weak demand. Turmeric futures may continue to remain sideways on slack demand and higher availability. Jeera futures may remain sideways. Mentha oil futures may hold gains taking support above 1,240 levels. Chana futures making a life time high may remain upside. Soybean futures may continue to track the bearish price movements of U.S soybean prices.

FREE MCX NCDEX COMMODITY TRADING TIPS

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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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MCX Commodity Market Bullions, Metals, Crude Report & Tips

Gold futures rose to a record settlement price for the second straight day. Gold prices today surged further by Rs 430 to touch an all-time high of Rs 26,680 per 10 grams here. Silver futures may remain range bound. Silver futures for December delivery rose 53 cents, or 1.3%, to USD 40.378 an ounce in New York. The price has climbed 31% this year. Base metals may hold gains tracking higher opening in international markets. Crude oil futures may remain sideways trade with a positive bias. Crude Oil rose on Wednesday on better-than-expected demand for gasoline in the United States.

MCX Gold October contract is currently trading at Rs. 26570, it is up by Rs. 179 for the day. Silver spot market is currently trading at $40.28. MCX Silver Sep contract is trading at Rs. 60745, it is up by Rs. 290 for the day. All Base Metals in MCX are trading mildly positive for the day. Crude for Sep delivery lost 34 cents in today's session and is currently trading at $87.20 a barrel on the NYMEX.  MCX Crude Oil Aug is trading at Rs. 3971 for the day.

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

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