MCX Gold Silver Tips and Base Metals News Updates for Today


Precious metals started the day with the spark of upside in the domestic commodity market. Both Gold and Silver are trading in buoyant mode. With the gain of more than 1% MCX Silver is approaching 57000 level while MCX Gold is trading near Rs. 27880.
Day traders are advised to trade in these metals on Dips.

All metals except aluminum on MCX is trading at a huge edge.Nickel gained nearly 1.5 percent, while of lead leaping more than 1 per cent. The copper and zinc is trading with gain of nearly 1 per cent.

Commodity Updates: MCX Gold Silver Tips Today

A decline has been seen in Gold prices . A lackluster trade is being seen in Silver Commodity. International market is also facing the same declining trend. Weakening of dollar against rupee has also influenced the precious metals prices. Currently MCX Gold is trading near Rs. 27435 with a loss of nearly 0.30 while Silver on MCX is looking at the small edge and is trading around Rs. 55600.


MCX Silver Surged, Copper, crude Likely to Go Up: Commodity Updates


MCX Silver is trading higher with a gain of more than 1.30%. Gold, with moderate gain is also trading up near 27550 level. These precious metals are likely to to remain bullish for the day. Crude oil after has come out its decline phase and again heading towards 5000 level. Traders can buy crude around 5010 level for the target of 5055-5070.

Copper is recommended to buy above 421.50 for the target of 423.50-424.50.

Commodity Updates: Comex and MCX Silver Weekly Analysis

Silver rose 3.7% and reached to $31.67/ounce this week. It was third straight week when silver witnessed profit. Comex silver fascinated the traders after it broke the resistance level of $30.50 which along with the physical demand of silver boosted the prices in Exchange as well.

Technically comex silver is in upward phase and prices are likely to go up in current week as well. Last week Silver managed to prevail the higher level and finally closed near its week high. For upcoming week $27.5-$26 are acting as crucial support level while resistance levels are $34-$35.50.

MCX Silver march contracts settled up near 55500 and its is likely to face a stiff resistance of 56000. Traders can adopt buy on dip strategy in MCX Silver.



MCX Crude and Copper Updates Today


Crude oil is in range bound mode and trading in a tight range of 5095-5113 rupees on MCX. US inventory data had an bearish impact on Crude price and Crude futures has come down to 5060 level. This weakness is likely to prevail till 5050 level and a trade below the same may invite more downside.

Due to profit booking, Copper prices has declined to 420 level but the overall near term trend is still intact. As long as prices hold the level of 416.50, we can expect prices to prevail the positive trend while below the same level prices are likely to face a sell off till 409 level.
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