Wednesday, August 29, 2012

MCX Tips|Gold Silver Copper Crude|Commodity Updates

MCX Gold Silver Tips

International market prices of gold and silver has seen down. COMEX gold at $ 1,658 dropped 0.15 percent, while silver is trading around $ 30 per ounce dropped to 0.5 per cent. MCX Gold had a decline of 0.32 per cent trading at Rs 30850 on Wednesday. The silver was flat turnover to Rs 57,600. In the domestic market, gold is trading below record levels. Gold is at record lows of 4 months in the international market. The slight fall on MCX gold is trading at Rs 30925, while silver is trading at Rs 57540 with osteoporosis 0.1 per cent. MCX Gold Tips For Today is to Buy on low to get the target price of 31200 level. In MCX Silver Tips are buy on low else below the 57000 level go for sell.

Crude Oil Tips

NYMEX crude oil has seen a decline of 0.5 per cent, while prices are at $ 95 per barrel. MCX crude on Wednesday, with 0.86 per cent to Rs 5316. Slipped 0.5 percent on MCX crude oil closed its trading around Rs 5316. MCX Crude has a sharp support at 5240 and a strong resistance is looking at 5380. Crude oil trend is looking consolidate for intraday but looking positive for short term. MCX Crude Tips For Today is to buy Crude Oil on lower levels.

MCX Copper Tips

Weakness in base metals on MCX has taken over. 0.3 to 0.7 per cent in the base metals fell. Copper on the London Metal Exchange traded in the red light is on. Copper 0.55 per cent in the domestic market on Wednesday closed at around Rs 422 with osteoporosis. MCX Copper has a fully consolidate trend and even looking consolidate for mid term also. Technical tips suggest that a rally above 426 level may show the bullish trend for Copper. Although MCX Copper has a strong resistance at 425 level. MCX Copper Tips is to sell on higher levels.

Commodity Updates

The eyes of the market hinge on U.S. GDP figures. The market in the August 31 meeting of the Federal Reserve is expected to announce Qi -3. That is why the gold in the domestic market with the international market is weak.

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