Commodity Updates
International Commodity updates says thay Gold is trading above 1730 level which is up by more then 3 percent in compair to last week. Expectations of another round of quantitative easing from US Federal Reserve and possible European bond buying program have pushed gold to multi month high levels earlier. Us Commodity Data says that, Last week’s feeble US employment numbers has embarked upon likelihood of stimulus measures from Federal Reserve. Non-farm payrolls increased to only 96000 last month against the expectations of 125000 new jobs last month.
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MCX Gold Tips
In bullions MCX gold has traded on a flat note in last trading. Yesterday MCX gold closed at 31870 down by 6 points from its previous close. Prices still need to make trades above 32180 region for the prolongation of present buying sentiments towards 32360/480. Else below the 31560 level it would be in a down trend. From here MCX Gold trend is looking in a positive mode. MCX Gold Tips is to buy on lower levels.
MCX Silver Tips
MCX Silver is traded in a down trend in its previous trading session. MCX Silver closed its trading session with a loss of 524 and sattel at 63280 level. Tips and trend suggest a prevailing bullish sentiments likely to continue towards 64000 initially which if cleared could look for bigger targets of 64700 or more. Else a direct fall below 62800 would be a signal of corrective selling but unlikely for major selling pressure. MCX Silver Tips for today is to wait for the 63600 level the buy above that.
MCX Copper Tips
MCX Copper is also traded on a consolidate trend. MCX Copper is suggest to buy for today because the positive bias prevails in the counter as long as prices stay above 451. For the day, immediate upside obstacles are seen at 457 followed by 459/464 levels. Prices have to close below 449 to dent the bullish expectations. MCX Copper Tips is to buy Copper on lower levels.
