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Friday, February 11, 2011

MCX Buliion Tips – MCX Commodities Markets

You can earn Huge money From Mcx With Applying Proper Strategy.
MCX Commodities are a great and huge source of profit from Indian commodities traders the MCX . There are various commodities being traded on these exchanges ranging from Gold, Silver, Copper, Crude, Nickel, Aluminum, Zinc, Lead. Thousands of traders are trading in the volatile and dynamic commodities markets. Some make profits and some end up making losses regularly. With the volumes on Indian Commodities markets increasing day by day they have made some great achievement in terms of volume and the number of contracts being MCX Trade Precious Metals / Bullion ( Gold, Silver, Platinum) , Base Metals ( Copper, Nickel, Zinc etc) and Energy (Crude Oil, Heating Oil, Natural Gas)

Comex Gold Trading Lower on Thursday Becoase of US Dollar Index Rebounds

Comex gold futures prices are trading lower Thursday morning, as a firmer U.S. dollar index and increased investor risk appetite worldwide work to pressure the yellow metal. Comex April gold last traded down $13.00 at $1,352.20 an ounce. Spot gold last traded down $11.30 at $1,353.00.

New multi-year highs in the U.S. stock indexes this week, combined with multi-month lows in the U.S. Treasury market prices, are suggestive of investor risk appetite that's on the upswing, and that's taking investment demand away from safe-haven gold.

Gold prices extended losses Thursday morning following a bigger-than-expected decline in U.S. weekly jobless claims data that did push the dollar index even higher on the day.

The U.S. dollar index is trading solidly higher Thursday morning, in the wake of the jobless report and on a short-covering bounce in a market that is still overall technically bearish. Still, the overall technically bearish posture of the U.S. dollar index favors the gold market bulls.

Crude oil prices are under mild selling pressure Thursday morning, which is also an underlying negative for gold.

The specter of raw commodity and consumer price inflation increasing in the coming months will limit selling interest in gold, which is an asset held as a hedge against inflationary price pressure.

News earlier this week that China raised key interest rates in a move to curb domestic demand and reduce inflationary pressures has gold traders more focused on the inflationary fires that could become hotter in the coming months. Gold market bulls have also not lost sight of what they call "the U.S. government printing press" that has created so many dollars the past several months, which is also a prescription for increasing inflationary pressure.

China traders and investors are starting to come back from the Lunar new year holiday, and market watchers are waiting to see if strong physical demand for precious metals from the world's most populous nation continues. Some analysts believe Asian demand for physical gold may decrease a bit in the coming weeks.

U.S. economic data due for release Thursday includes the weekly jobless claims report, wholesale trade inventories and Treasury receipts and outlays.

The London A.M. gold fixing was $1,358.75 versus the previous P.M. fixing of $1,365.00.

Technically, the gold market bulls have regained some upside near-term technical momentum this week. Prices are still in a three-week-old uptrend on the daily bar chart.

Gold bulls' next near-term upside technical breakout objective is to produce a close above solid technical resistance at the $1,380.00 area. Bears' next near-term downside price breakout objective is closing prices below solid technical support at this week's low of $1,344.10. First resistance is seen at the overnight high of $1,365.00 and then at this week's high of $1,368.70. Support is seen at $1,350.00 and then at $1,344.10.

March silver futures last traded down 50.0 cents at $29.77 an ounce Thurssday morning. Profit-taking pressure is featured after prices hit a fresh six-week high on Wednesday. Silver bulls still have the solid overall near-term and longer-term technical advantage. Prices are still in a three-week-old uptrend on the daily chart.

The next downside price breakout objective for the silver bears is closing prices below solid technical support at $29.00. Bulls' next upside price objective is producing a close above solid technical resistance at the January contract and 30-year high of $31.275 an ounce. First support is seen at $29.50 and then at $29.26. Next resistance is seen at $30.00 and then at the overnight high of $30.225.  
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