Bullion tips & updates : Oil rally continues 29 Jan, 2016

Mcx crude oil updates : Oil futures rose during late morning trade in the local market, today as traders pinned their hopes on a potential deal between oil-producing nations to cut outcome and help combat a worsening supply glut.Click For Bullion tips

While Russia told that OPEC’s top producer Saudi Arabia had proposed production cuts up to 5 per-cent, OPEC officials denied reports of planned co-ordination policy action with Russia.

Talks of possible production cuts come at a time when Iranian oil shipments are set to jump more than a fifth in Jan and Feb from previous year's daily average, reports concluded. Iran, the fifth top OPEC producer is boosting its oil exports after international sanctions against the Islamic Republic were lifted earlier current month following last year’s nuclear deal with the West. Additional Iranian oil has widened a worldwide crude supply surplus.

MCX : Crude oil futures, for the Feb 2016 contract, is trading at 2,301 Rs per barrel, up by 0.61 per cent, after unlocking at 2,299, as compared to the previous ending price of Rs 2,287. It attained an intraday high of Rs 2,309.

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Mentha oil prices fell by 0.49%, Castorseed also fell 21 jan, 2016

Mentha oil prices fell down by 0.49 per-cent today at the Multi Commodity Exchange (MCX) as a result of the increased arrivals of the commodity in the physical market from the major producing regions in UP(Uttar Pradesh). 

MCX : Mentha oil futures for Jan 2016 contract, at MCX, were trading at Rs. 873.10 per kg, down by 0.49 per-cent after opening at Rs. 878 against the last ending price of Rs. 877.40. It attained the intra-day low of Rs. 872.60 till the trading time.

Prices of Castorseed prices fell down by 1.43 per-cent on today at the National Commodity & Derivatives Exchange Limited (NCDEX) as a result of fresh supply of the commodity in the major mandies as well as strong production estimates.

NCDEX : Castor seed futures for April 2016 contract was trading at Rs. 3,383 per quintal tonnes, down by 1.43 per-cent, after opening at Rs. 3,425 as compared to its previous closing price of Rs. 3,432. It reached the intra-day low of Rs. 3,362 till the trading time.

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Today mcx copper remains dominant 31 Dec, 2015

Copper futures ahead in the native market on yesterday as investors, traders and speculators booked fresh positions in the industrial metal amidst hopes that production cuts in China may decrease a supply glut.

In Accordance with media reports, nine leading Chinese copper producers have agreed to cut production of the base metal by an overall 200,000 metric tons in the January-March 2015 Q(quarter).

China is the world’s largest consumer of copper, accounting for more than 40 per-cent of the metal’s world wide consumption.

The focus is now on China’s official factory data set for release on last week Friday which may show that manufacturing shrank for a fifth straight in Dec month, highlighting weakness in the manufacturing sector of the world’s second biggest economy.

Copper may retreat today on profit-booking by investors, after the stellar gains in newely sessions, and ahead of this New Year.

MCX : February 2016 contract for Copper futures ended at Rs 318.4 per kg, up by 0.55 per-cent after opening at Rs 316.25, as compared to the previous ending price of Rs 316.65. It reached the intra-day high of Rs 318.85.

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MCX Gold Silver Tips For Today

MCX Silver Tips

MCX Silver is looking in a consolidate trend. It has a strong support at 52000 level if it cross this then possibly it can go up to 51000 levels. On the other side it has a strong resistance too. The first resistance is at 54500 level futher it can go upto the 56000 mark. Now MCX silver is trading on 53000 levels and MCX silver suggest that it can touch the resistance first. We suggest to Buy MCX Silver on lower levels.

MCX Gold Tips

MCX Gold is also looking in a consolidate form. It has a strong support at 28700 and a hard resistance at 30200. Currently it is trading on 29990 level. Although it is looking in consolidate form but it is looking bullish in mid term. For Today MCX gold tips is to Buy MCX gold on Low.

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MCX Silver Tips and Trend Today

MCX Silver Trend For Today

Till yesterday evening silver was in a full bear phase but in evening session of trading it has recovered from 52000 levels and set onto 53500 levels. It closed at 53670 with more then 1.5 per cent up. Because of lots of ups and down it is so hard to track the MCX silver trend but we provide you accurate trend for mcx silver. In technical report mcx silver trend is looking weak. It may go upto 54800-55200 if it cross the level of 54100 on intraday basis else below 52800 it would be in down trend.

MCX Silver Tips For Today

Silver is looking consolidate to positive in intraday trend but it has a crutial support at 52800. We suggest to take a fresh position in MCX Silver and follow the Buy on Dips strategy.

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Current News of MCX Gold, Silver, Copper and Crude Updates

Currently all products in MCX Commodity Market are trading at positive prices. MCX GOld, Silver, Copper, Crude all are trading at higher prices. MCX Gold trading above at Rs. 29,000. We assume that it can touch the level of Rs. 29200 and MCX Silver touch the level of Rs. 55600 in today's trading session. MCX Crude price may touch the level of Rs. 5300 and MCX Copper price may touch near at Rs. 410 in today's trading session.... 

NCDEX Agri Commodity Market News:

Pepper futures may trade sideways as the upcountry dealers were releasing the stocks they bought when the prices were ruling at lower levels. Jeera futures may trade with a negative bias. Guar complex may trade upside owing to exporter`s demand. Domestic oilseeds may trade sideways with a positive bias tracking higher quoting spot prices.

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MCX Gold & Silver Tips & other Commodity news today

MCX Gold & Silver futures may remain sideways. Gold prices held record high on Tuesday. MCX silver prices remain very up and down in intraday bases. That's why traders are adopting a wait-and-watch policy before investing in silver. Base metals prices opening higher on today. MCX Copper prices are very affected by risks in global copper supply. Fall in demand from consuming industries in the spot market may put some pressure on Zinc futures prices. Crude oil prices may remain sideways. US crude futures fell below USD 99 a barrel on Tuesday. Natural gas futures may remain downside. High natural-gas production is still limiting the upside for futures in the international market.

MCX Copper August  

Support: Rs 428 

Resistance: Rs 440

MCX Aluminium July 

Support: Rs 114 

Resistance: Rs 117

MCX Zinc July

Support: Rs 108 

Resistance: Rs 112

MCX Nickel July

Support: Rs 1,045 

Resistance: Rs 1,085

MCX Lead July

Support: Rs 118

Resistance: Rs 122

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Support and Resistance Levels of MCX Commodity Today

MCX SILVER (SEP)
TREND: Consolidate
R2: 61250
R1: 60125
S1: 57820
S2: 56570
STRATEGY: Buy on dips

MCX COPPER (AUG)
TREND: Consolidate
R2: 448
R1: 442
S1: 431
S2: 425
STRATEGY: Buy on dips

MCX CRUDE OIL (AUG)
TREND: Consolidate
R2: 4480
R1: 4435
S1: 4325
S2: 4270
STRATEGY: Buy on dips

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FREE MCX Commodity (GOLD, COPPER, CRUDE) News Today

Spot gold steadied above $ 1,550 on Tuesday. Gold may remain in range of  Rs. 22,400-22,600 while silver may remain in range of Rs. 53,000-54,500. Copper and other base metals may tad lower and can see some profit booking. Zinc can tumble further lower and can test 101-102 in MCX. Crude oil may also trade in red tracking weak overseas cues. Crude prices can trade in range of Rs. 4,150-4,300 in near term. 

• Precious metals are trading higher on COMEX today. 
• Base metals are trading marginally lower on International bourses today. 
• Crude oil is trading lower on NYMEX today.
• MCX Gold August contract is currently trading at Rs. 22577, it rose by Rs. 105 in today's trade.
• MCX Silver July is trading at Rs. 53787, it is trading flat for the day. 
• MCX Crude Oil July is trading at Rs.  4206, it is trading down by Rs. 15 for the day.
• All Base Metals in MCX are trading flat for the day.

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MCX Commodity Market Strategies for Monday 11 July 2011

GOLD SETS BIGGEST WEEKLY GAIN IN 19 MONTHS ON SOFT JOBS.
U.S. CRUDE ENDS 2.5 PCT LOWER ON WEAK JOBS DATA.
COPPER RALLY STALLS AFTER GLOOMY U.S. JOBS DATA.
domestic oil and oilseed trade marginally low.

MCX SILVER (SEP)
TREND: Consolidate
RESISTANCE 2: 56900
RESISTANCE 1: 55900
SUPPORT 1: 53200
SUPPORT 2: 52200
STRATEGY: Buy on dips

MCX COPPER (AUG)
TREND: Consolidate
RESISTANCE 2: 445
RESISTANCE 1: 439
SUPPORT 1: 427
SUPPORT 2: 422
STRATEGY: Buy on dips

MCX CRUDE OIL (JUL)
TREND: Consolidate
RESISTANCE 2: 4430
RESISTANCE 1: 4350
SUPPORT 1: 4220
SUPPORT 2: 4150
STRATEGY: Buy on dips

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FREE MCX Trading Tips and Commodity Market News

Bullions may open on firm note tracking positive international cues. Gold may trade in range of Rs. 22,200-22,400 and silver may trade in range of Rs. 53,500-55,000 in domestic market. Base metals may open on flat note amid mixed movement in SHFE. Copper edged down on Thursday. Copper may trade in range of Rs. 420-430. Energy prices may trade on firm path tracking firm international cues as it can test 4400 in domestic market.

• MCX Gold August contract is currently trading at Rs. 22244, it is trading marginally positive for the day. 
• MCX Silver Sep is currently trading at Rs. 54320, it is trading up by Rs. 235 for the day.
• MCX Crude Oil July contract is currently trading at Rs. 4331, it is marginally up by Rs. 31 for the day.
• Gold prices extended their rally mood for third consecutive session on Wednesday.
• Copper prices finally snapped the six session gaining streak as investors opted to book profits. 
• Crude prices settled marginally lower on Wednesday.

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MCX Commodity Market Technical Report for today

GOLD NEAR $1,500/OZ AS EURO ZONE CRISIS SIMMERS. 
COPPER FALLS ON GREEK DEBT WOES, CHINA INFLATION CONCERN.
DOMESTIC OIL AND OILSEED TRADE LOW ON WEAK DEMAND.

CRUDE OIL DECLINES IN NEW YORK ON OUTLOOK FOR SLOWING DEMAND.

MCX SILVER (JUL)
TREND: Consolidate
RESISTANCE 2: 52250
RESISTANCE 1: 51250
SUPPORT 1: 49700
SUPPORT 2: 48700
STRATEGY: Buy on dips

MCX COPPER (JUN)
TREND: Consolidate
RESISTANCE 2: 413.55
RESISTANCE 1: 408.55
SUPPORT 1: 398.55
SUPPORT 2: 393
STRATEGY: Buy on dips

MCX CRUDE OIL (JUL)
TREND: Consolidate
RESISTANCE 2: 4245
RESISTANCE 1: 4165
SUPPORT 1: 4025
SUPPORT 2: 3955
STRATEGY: Buy on dips

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MCX Commodity Market Report and Tips for Today

Copper eased as the dollar strenghtened ahead of a  U.S. rate statement on Wednesday and markets focused on Greece, while signs of stronger demand growth from top consumer China helped underpin prices. Crude Oil bounced  from its earlier dip on Wednesday ahead of the release of the U.S. weekly oil data, which is expected to show a drop in crude inventories.

Copper eased as the dollar strenghtened  
Lead, zinc cancelled warrants jump in Asia  
Crude Oil rises further after U.S. Fed statement 
Gold hits new recent high above 1557$  

Yesterday MCX Commodity Market News

Precious metals were trading marginally lower on COMEX. 

Base metals were trading lower on International bourses. 

Crude oil was trading marginally higher on NYMEX.

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MCX NCDEX Agri Commodity (Pepper, Cardamom) news & Tips

Pepper futures have surged on Tuesday on the back of some short covering. Technical cues at strong support levels too have helped the prices. Cardamom futures increased by sharply even further on the back of strong spot market demand up against restricted arrivals right from producing belts. MCX cardamom ended the very last session much higher by 4% on the very last trading session.

The contract for Pepper July delivery was trading at Rs 29473.00, up by 1.29% or Rs 376.00 from its previous closing of Rs 29097.00. The open interest of the contract stood at 7370 lots. 

The contract for Pepper August delivery was trading at Rs 29440.00, up by 1.28% or Rs 373.00 from its previous closing of Rs 29067.00. The open interest of the contract stood at 1338 lots on NCDEX.

MCX Cardamom with regard to the July contract increased further in present-day trading session with the contract soaring by Rs 21.20 to the session raised of Rs 868.50 a kg. The contract is now trading much higher at Rs 868.50 and also the open interest added by 1.07% to 2,079 lots. Volume traded nowadays remained at 814 lots.

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MCX Commodity (GOLD, COPPER, CRUDE) Report & Tips Today

At the Multi Commodity Exchange (MCX), COMDEX is trading up by 7.53 points, or 0.22%, at 3,381.10 after opening at 3,373.61. MCXMETAL is trading upward by 10.35 points, or 0.23%, at 4,444.73 after opening at 4,434.48. MCXENERGY is trading up 15.78 points, or 0.52%, at 3,076.28 after opening at 3,072.42. MCXAGRI is trading down by 13.11 points, or 0.51%, at 2,539.71 after opening at 2,556.57.

Gold prices advanced for second successive day as investors took refuge under the safe haven after a slew of frail US economic reports augmented worries that US economic growth is stumbling while fresh worries over Greece's debt situation too supported the prices of bullion. Copper prices receded on Wednesday, a session after spurting almost three percent, as investors choose to book profits amid the growing perception that the US economy is cooling coupled with highly uncertain global setup. Crude oil prices tumbled on Wednesday, losing over 4 percent in a day and posting its lowest closing since February 22. Series of weak economic data weighed heavily on the crude.

Gold futures for August delivery advanced by $1.80 to settle at $1,526.20 an ounce, after trading as high as $1,535.70 and as low as $1,514.50, on the Comex division of the New York Mercantile Exchange. 

Copper futures for September delivery slipped 3.45 cents to settle at $4.1390 per lb, after trading in the range of $4.1305 to $4.20, on the Comex metals division of the New York Mercantile Exchange.

Benchmark crude for July fell $4.56, or 4.59 percent, to settle at $94.81 a barrel, the lowest settlement since front-month crude closed at $93.57 on Feb. 22 on the New York Mercantile Exchange.

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MCX Commodity market news and trading tips today

Brent crude oil hit is highest in over five weeks on Tuesday as data from the United States and China helped to reassure investors that economic recovery was on track and that demand would be robust. Copper rose to its highest in a week on Tuesday after better than-expected U.S. retail sales data consolidated earlier gains made on data from China.

Gold fell to its lowest in more than a week on Tuesday 
Gold and silver ETF holdings fall 
U.S. retail, PPI data better than forecast
China industrial output up 13.3 percent in May 
Crude Oil prices recovers sharply above 99$
Copper rose to its highest in a week on Tuesday

MCX GOLD (AUG)

R2: 22700

R1: 22400

S1: 22150

S2: 21900

Trend: Consolidate

Strategy: Buy on dips

MCX CRUDE OIL (JUNE)

R2: 4545

R1: 4460

S1: 4365

S2: 4270

Trend: Consolidate

Strategy: Buy on dips

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MCX & NCDEX Agri Commodity Market news today | NCDEX Tips

Pepper futures are suffering heavy profit booking on Tuesday. Vietnam Pepper Association has reported reaching total production output of 100,000-110,000 tonnes of pepper in 2010-2011 crops, equivalent to that of 2010.
The contract for Pepper June delivery was trading at Rs 29900.00, down by 1.30% or Rs 394.00 from its previous closing of Rs 30294.00. The open interest of the contract stood at 6074 lots. The contract for Pepper July delivery was trading at Rs 29715.00, down by 1.35% or Rs 406.00 from its previous closing of Rs 30121.00. The open interest of the contract stood at 5395 lots on NCDEX.

Cardamom futures surge on the back of few more buying on account of confined selling by the cultivators at reduced levels on Tuesday. The MCX  Cardamon July futures are presently trading at Rs.816.50 per Kg, increased by 1.23 % while combating the preceding close up. In the sooner session the contract traded at a number of Rs.796-819.40 per Kg.

GUARSEED (JUNE)
R1: 3315
R2: 3345
S1: 3250
S2: 3200
Trend: Consolidate
Strategy: Buy on Dips

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MCX Commodity Market News today | MCX Tips

Copper prices nosedived to its lowest level in over two weeks on Friday as investors trimmed down hefty positions after getting worse than expected trade data from top consumer China. The red metal prices went home with over a percent cut because of the extended rally in American greenback against a basket of currencies.

Copper futures for July delivery plunged 5.15 cents to settle at $4.0560 per lb on the Comex metals division of the New York Mercantile Exchange. Copper for three-month delivery on the LME plummeted $117 or 1.3%, to end at $8,938 a tonne.

Crude oil prices declined on Friday after surging in past two sessions, oil prices closed lower for a second week on news that Saudi Arabia was offering more oil to Asian refiners. A Saudi newspaper reported that the Saudi kingdom is planning to raise output to 10 million barrels per day, from 8.8 million bpd in May.

Benchmark crude for July delivery settled at $99.29 a barrel, down $2.64, or 2.59 percent, after trading in a range from $98.60 and $102.15 on the New York Mercantile Exchange. In London, Brent crude for July delivery settled at $118.78 a barrel, slipping 79 cents, or 0.66 percent on the ICE.

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Hot MCX Commodity market news today | MCx Tips

Gold traded mostly flat while silver steadied ahead of the rate announcement buoyed by a weak dollar. LME copper was down by a tad as investors were waiting for further cues. Crude oil extended the previous session gains as OPEC meeting to decide on raise output target was unsuccessful and fall in crude oil inventories last week on lower imports. Weakness dollar provided additional support to the prices. EIA reported a 4.8 million barrels drop in crude oil inventories exceeding the forecast of 300,000 barrel. However, gasoline and distillate stocks rose.

Gold futures for August delivery declined by $5.30 or 0.3%, to settle at $1,538.70 an ounce, after trading as high as $1,537.20 and as low as $1,549.90 on the Comex division of the New York Mercantile Exchange, whereas the spot gold prices slipped by $7.10 to $1,5437.60 an ounce.

Copper futures for July delivery plunged 4.1 cents or 1% to settle at $4.0880 per lb on the Comex metals division of the New York Mercantile Exchange. Copper for three-month delivery on the London Metal Exchange sank $95 to end at $9,045 a tonne.

Crude oil for July rose $1.65, or 1.67 percent, to settle at $100.74 a barrel, after trading in a range from $98.02 to $101.89 on the New York Mercantile Exchange. In London, Brent crude oil for July delivery climbed $1.07, or 0.9 percent, to end the session at $117.85 a barrel on the ICE.

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MCX Commodity news and Trading Strategies for today

A divergent trend developed in the bullion market Thursday as silver recovered by Rs 400 to Rs 55,100 per kg on fresh buying by stockists amid a firming global trend, while gold fell further by Rs 25 to Rs 22,655 per 10 gram on sluggish demand at existing high levels, reports PTI. Silver coins followed suit and shot up by Rs 1,000 to Rs 61,000 for buying and Rs 62,000 for selling of 100 pieces

Precious metals are trading flat on COMEX today. However, we can see profit-booking by investors due to the worries about the U.S. economy outlook. Base metals are trading flat on international bourses today. We expect a bounce back in the prices today hence any rise should be considered as a good selling opportunity. Crude oil is trading higher on NYMEX today. We expect further appreciation in the prices due to no signs of output increment in OPEC's meeting yesterday and a sharp fall in the inventory data.  

At the Multi Commodity Exchange (MCX), COMDEX is trading up by 7.86 points, or 0.23%, at 3,480.45 after opening at 3,472.51. MCXMETAL is trading upward by 10.45 points, or 0.23%, at 4,508.13 after opening at 4,497.48.  MCXENERGY is trading up 10.39 points, or 0.32%, at 3,248.55 after opening at 3,243.18. MCXAGRI is trading down by 0.80 points, or 0.03%, at 2,584.97 after opening at 2,583.17.

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