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 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 Commodity Updates and Trading Tips Today

GOLD EASES AS INVESTORS SELL TO PLUG OTHER LOSSES.

COPPER DIPS AS ECONOMIC, DEBT CRISIS FEARS MOUNT.
DOMESTIC OIL AND OILSEED QUOTE STEADY.
CRUDE OIL DROPS ON CONCERN DEBT CRISIS TO LIMIT GROWTH, FUEL NEED.

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MCX Commodity Market Trading Strategies for Today

GOLD DROPS 2PC AS STOCKS RALLY; DEBT CRISIS LENDS SUPPORT.
CRUDE OIL GAINS ON FORECAST STOCKPILE DROP AS CYCLONE BUILDS IN GULF OF MEXICO.
COPPER FIRMS ON SUPPLY FEARS.
DOMESTIC OIL AND OILSEED TRADE STEADY.

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