Archive for June 2013
Gold and silver on Mcx collided with easier levels a week ago. Crude picked up on popularity from moguls while copper was still on the borderline of a defeat. Mcx copper exchanged the reach of 406-413 last week. The ware saw flat instability on Chinese standpoint.
Algorithmic exchanging with mechanical advertise positions advertised steep fall in gold and silver costs. Persevering back off in Chinese economy and miserable state of issues in European economy guaranteed the wares stayed in bearish zone. Appeal from shippers kept Crude oil in positive domain.
- Mcx gold for August conveyance might exchange sideways to down without much fanfare. Short blanket is normal at more level levels. Help: 24800, 24000; Resistance: 26300, 27100
- Mcx silver for September conveyance might exchange bearish without much fanfare. Pitch on ascent is encouraged to the traders. Help: 39000, 38000; Resistance: 41700, 41999
- Mcx Crude oil for July conveyance might exchange with negative inclination without much fanfare. Underpin: 5550, 5310; Resistance: 5850, 5890. MCX crude oil traded in the range of 5570-5867 last week. Depreciation of Indian Rupee to 60.5 levels against dollar capped further fall in crude oil prices.
- Mcx copper for June conveyance is relied upon to exchange sideways without much fanfare. Help: 398, 389; Resistance: 418,420
Crude Oil Updates
The proceeding clash in Syria and the moderate spread of brutality in the locale around it press on to make it challenging to correctly anticipate what's to come for oil sends out from the region and that is giving back to raw petroleum costs. Inside Syria itself, generation had fallen into decrease something like ten years back, after the present battle started. The accelerate drop in the course of the most recent two years has, then again, been substantially more memorable. As Energy Export Data browser noted from the Bp detail survey, processing fell by 49% last year.
Natural Gas Trend
In a not-so famous move, the Manmohan Singh-advanced Indian government has climbed the Natural Gas costs by essentially twofold. The expansion in the costs will be made viable from April one year from now. As an aftereffect of the climb in costs of common gas, power levy, urea cost, and auto gas i.e. Cng costs are situated to ascent altogether. The new costs will be altered according to the new equation recommended by a board headed by the Prime Minister's budgetary guide C Rangarajan. This will be the first correction in gas costs in three years.
The equation utilization enduring and spot fluid gas (LNG) import contracts and also universal exchanging benchmarks to touch base at an intense cost for India.
MCX Suggestion For Today
MCX Gold Sell on higher levels.
MCX Silver: Sell on higher level.
Crude Oil: Trend Consolidate Today.
Commodity Data News
After a sharp fall in the international market, gold-silver has shown a little strength and get a pivot level. COMEX gold is trading with a gain of 0.75 per cent, although prices are only around 1,240 dollars per ounce. In silver, it is trading with a gain of nearly 1.25 percent. But the prices are around $ 18 per ounce.
On the other hand in agri markets MCX cardamom July contract may trade in a consolidate trend with buying sentiments today. Expectations of steady spot markets may influence cardamom futures. Now MCX cardamom has a strong Support at 730-725 level and a resistance at 765-772 levels. Buy on lower levels is been suggested. Commodity updates are MCX Cardamom July contract were down by 2.15% on Wednesday.
NCDEX barley for July delivery may see some short covering today. Barley has some support at 1339-1328 level and Resistance trend is in between 1391-1402 levels.
For today MCX Gold and silver both a trading bearish. We suggest to sell Bullions on higher level today.
The pattern in gold futures for August conveyance on India's Multi Commodity Exchange (Mcx) bearish for the day and intra-day traders are encouraged to pitch on ascent. For intra-day, uphold for the thing is seen at 25800 while safety is seen at 26500. Mcx gold fates for August conveyance was seen exchanging around 2.26% at Rs. 25948 for every 10 grams today. Physical interest for bullion remained stifled in Asia by putting force on the gold costs to certain degree. Gold in the universal market declined to its most minimal in the almost three years on Wednesday compelled by solid value market and Us Federal Reserve's want to withdraw its money related stimulus. Then, Us customer certainty moved in June to its crest in more than five years. Us single-family home deals touched to their most noteworthy practically five years in May.
MCX Bullion Updates
Gold and silver prices at India's Multi Commodities Exchange (Mcx) collided with more level levels; the ware saw high offering as costs dove. Gold for August futures is trading at Rs 26020 down by of 2.03%. Silver for July futures is exchanging down at Rs 39,400 with a loss of 3.11%. Gold and Silver both are trading on a bearish trend due to the weak global market updates. Selling on higher levels suggest by our experts.
MCX Tips Today
- Sell MCX Gold around 25900 levels with a stop loss placed above 26100 levels for targets of 25500.
- Buy MCX Crude Oil around 5700 levels with a stop loss placed below 5650 levels for targets of 5800.
- Buy MCX Copper around 400 levels with a stop loss placed below 395 levels for targets of 410.
MCX Gold aug expiry future keep going shut at 26539 with loss of 186 rupees.in intraday mcx gold future made high close to 26800 while level was close to 26500.total 300 rupee intraday range and benefit booking proceeds from investors. here anticipate that 26200 will 26k levels in intraday for today.on upside 26800-26900 remain major supply zone.
MCX Silver jul expiry future keep going shut at 40620 with misfortune of 214 rupees.in intraday mcx silver future made high close to 41100 while level was close to 40300.total 800 rupee intraday range and proceeds downtrend.here for today underneath 41200 hold short on ascent see for focus on 40k then after that 39k.
MCX Copper jun expiry future keep going shut at 403.3 with increases of 2.5 rupees.in intraday mcx copper future made flat at 393 while high was close to 407.total 14 rupee intraday range and specialized skip backs from support.here beneath 408 hold shorting view for same 398 and 394 target once more.
Posted by Niti Mathur
Tag : MCX Tips
MCX SILVER July contract was trading at Rs 43781 per kg, up Rs 235, or 0.54 percent. The SILVER rate touched an intraday high of Rs 44039 and an intraday low of Rs 43610. So far 11468 contracts have been traded. SILVER prices have moved down Rs 21229, or 32.65 percent in the July series so far.
MCX SILVER September contract was trading at Rs 44375 up Rs 208, or 0.47 percent. The SILVER rate touched an intraday high of Rs 44640 and an intraday low of Rs 44230. So far 327 contracts have been traded. SILVER prices have moved down Rs 12944, or 22.58 percent in the September series so far.
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International market updates suggest that there has seen weakness in gold and silver. COMEX Gold is trading with a loss of 0.25 percent. Although prices are above 1,383 dollars per ounce. Weakness in silver with 0.5 percent and its trading around $ 21 per ounce.
The move also appears dull crude oil, Brent crude slipped marginally to around $ 104 per barrel is intact. Crude oil traded flat on the NYMEX being seen. Although prices are above $ 95 per barrel.
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- GOLD SLIDES AFTER U.S. PAYROLLS DATA BEATS FORECASTS.
- COPPER HIT BY DEMAND WORRIES.
- CRUDE OIL FUTURES EDGE HIGHER AHEAD OF U.S. JOBS REPORT.
- REFINED SOY OIL STEADY IN SPOT.
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