White metal jumps on firm global signs in market

Silver futures closed high in the domestic market on Tuesday after participants raised their bets amid firming global trends. Analysts imputed the hike in silver prices at futures trade to a firming trend in the precious metals overseas.

At the MCX, silver futures for Dec. 2016 contract closed at Rs 42,433 per kg, upward by 0.89 %, after opening at Rs 42,151, against a last close of Rs 42,058. It touched the intra-day high of Rs 42,458.

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MCX Commodity Market News and Trading Tips

Today again we can see very up and down in the price of MCX Commodity Market. MCX Gold, Silver, Crude oil are trading at higher prices today and MCX Copper and other Base Metals are trading at negative price. Today MCX Gold touch the levels of Rs. 29,000. All base metals are trading mix for the day. According to our Research Analysis Report MCX Commodity Market Prices will be increases in upcoming month.

Gold along with silver will trade in range on domestic bourses. Gold Feb. contract can trade in range of 28,850-29,150 in near term. Base metals may tad lower tracking weak opening in international markets. Crude oil can open in red tracking weak international markets. Crude oil can trade in range of 5,100-5,220 on domestic bourses.

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Weekly MCX Gold, Silver, Copper, Crude, Natural Gas Commodity report

GOLD DROPS MORE THAN 1 PERCENT ON EURO ZONE DEBT HOPES.
CRUDE OIL ADVANCES A SECOND DAY IN LONDON ON EUROPEAN SUPPORT FOR GREECE.
COPPER RISES AFTER LEADERS REASSURE ON GREECE.
DOMESTIC OIL AND OILSEED TRADE LOW.

COMEX Gold is in an upward consolidation phase. In the coming week 1750$ will act as a major support in COMEX Gold and 1920$ will act as a major resistance.

STRATEGY
For the next week MCX Gold above 284000 it can test the level of 28200/28450/28700 and Below 27300 in MCX it can test the level of 27150/27000/26850. Trade by keeping the strict stop losses.

Major support in MCX Gold is 26500 and 25200
Major resistance in MCX Gold is 28700 and 29000

MARKET OVERVIEW
COMEX Silver is in a consolidation phase. In MCX Silver 68000 and 70000 will act as major resistance and 60000 and 58000 will act as major supports.

For the next week MCX Silver sustains above 63500 above it can test the level of 65700/66300/67000 and above 67500 it can test the level of 70500.

MARKET OVERVIEW
Copper is in a consolidation phase and traders should use the strategy of sell on higher levels. In MCX Copper sustains below 409 then it can test the level of 403/397 if it does not break the level of 416 on the upside.

MARKET OVERVIEW
NYMEX Crude is in consolidation phase. In MCX Crude Oil major resistance is found at 4300 and 4420 and major supports will be 3750 and 3550.

STRATEGY
For the next week MCX Crude sustains above 4100 then above 4250 it can test the level of 4320/4360/4390 in this week. Trade by keeping the proper stop loss.
For MCX Copper major resistance would be 422 and 430 and supports would be found at 400 and 385.

MARKET OVERVIEW
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 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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