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Thursday, March 3, 2011

Today's Complete Report of MCX and Market chart


MCX Comex, the composite index of metals, energy and agro-commodities was up by 0.61% to 3,476.15 points, MCX Metal index was up by 0.13% to 4,465.86 points and MCX Energy index was down by 1.25% to 3,124.52 points.
Bullion:
Gold April 11 contract was down by 0.41% to Rs 21,066 per 10 grams, GoldM March 11 contract was down by 0.45% to Rs 20,877 per 10 grams, Gold guinea March 11 contract was down by 0.28% to Rs 16,793 per 8 grams. Silver March 11 contract was down 0.51% to Rs 50,766 per kg, SilverM April 11 contract was down 0.42% to Rs 51,862 per kg and SilverMIC April 11 contract was down by 0.42% to Rs 51,861 per kg.

Commodity Market News/Data | Technical Analysis on MCX Base metals and Bullions

The base metals has been shot by politics in middle east by which turn has raised the prospectus of global inflation and its have done by rising crude oil prices.by this some analyst think that by rising inflation could interest rate to move northward,and also causing a slodown in global economy.
Crude oil News
Now Crude oil prices are trading above USD 100 per barrel which is the burden about inflation. Crude oil have discounted the middle east crisis likely to fall on profit booking. Crude oil last trade near about 102 per barrel. Now a days Crude Oil trading at so many months High. Crude oil can be fall and could touch 96-94 levels within next couple of days.

Base metals News
Base metals traded in mixed trend on london metal exchange in asia on thursday.Now Copper is trading lower while other base metals are tradind in higher.
Base metal prices are likely to fall from present levels on the back of profit booking. Base metal complex may see correction of 3-5 percent in the next few trading sessions.
Metals complex may find its direction from global equity indices and currency movements in the near future.

Gold Future News
 Gold futures settled at a record high for the second consecutive session and silver rose to a fresh 30-year peak Wednesday as worries about inflation persisted and intensified Mideast unrest boosted the metals' attraction as safe haven investments.

According to UBS AG, Gold purchases in China, the world’s largest producer, climbed to 200 metric tons in the first two months of 2011 as faster inflation boosted consumer demand. Gold prices are expected to rise till 1500 USD per ounce.
Gold Trend Is High

Gold Reorganized by nearly 20 USD on Wednesday, breaking three-months old resistance to trade at a new all-time high. The metal remains well-supported in the uptrend and resistance at 1405 USD has become near-term support. As long as Gold holds above 1410 USD, analysts expect medium-term gains to a target above 1600-1580 USD. 
Today, Spot Gold fell by 0.40 percent to 1442.20 USD per ounce. Silver remains in negative territory which declined by 0.17 percent to 30.54 USD per ounce.
Investors remained cautious ahead to US non-farm payrolls data due tomorrow evening. Traders are keeping eye on US data before taking a fresh position. On account of weak US payrolls number,

The events in the Middle East are a significant game changer these days. Gold looks like seating on sea- saw move from morning. Gold and silver is already trading on higher end of the range. Precious metals prices paused at all time high levels ahead of US non-farm data due tomorrow evening.
Investors remained cautious ahead to US non-farm payrolls data due tomorrow evening. Traders are keeping eye on US data before taking a fresh position. On account of weak US payrolls number, precious metals prices might ease in coming trading session. Traders and investors are advised to trade with cautioun.
MCX Commodity Tips For Today
 
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