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Saturday, May 14, 2011

MCX Gold and Silver Weekly Report 16 to 21 May 2011

Market Overview COMEX Gold
COMEX Gold is in an upward phase. Last week COMEX Gold neither sustain on higher level nor at lower level. In the coming week 1445$ will act as a major support in COMEX Gold, if COMEX Gold sustains above 1520 $ an ounce then above 1528 $ an ounce it can touch the level of 1542$ an ounce and if COMEX Gold sustains below 1460$ then it can slightly correct and test the level of 1440$ an ounce.
Strategy
For the next week traders can use buy on lower level strategy if COMEX Gold sustains above 1520 $ an ounce, then above 1528$ it can test the level of 1542 $ an ounce and above 1550$ it can further move upward. Trade by keeping the strict stop losses.
Major support for COMEX Gold in the coming week is 1450$ and 1410$.
Major resistance for COMEX Gold in the coming week is 1580$ and 1625$
Major support in MCX Gold is 21600 and 21200
Major resistance in MCX Gold is 22450 and 23050

Market Overview COMEX Silver
COMEX Silver is technically weak on charts. Last week COMEX Silver c neither sustain on higher level nor at lower level. For the upcoming week 3200$ and 3000$ are the crucial supports and 4000$ and 4250 $ are crucial resistance in COMEX Silver. In MCX Silver 61000 and 64000 will act as major resistance and 49000 and 46000 will act as major supports.
Strategy More Know about Silver Again 80000
Technically COMEX Silver is weak on charts, For the next week traders can use buy on lower level strategy if Silver sustains above the level of 3200$ an ounce, then above 3700$ an ounce it can further go upward and can test the level of 3850$ an ounce. Trade by keeping the proper stop losses.
MCX Gold and Silver tips on Mobile FREE Click Here

MCX Bullion Weekly Fundamental Report 16 to 21 May 2011 | Tips

GOLD DROPS 1 PCT ON DOLLAR SURGE, SILVER UP
Gold fell on Friday, sharply reversing early gains, as a dollar surge against the euro and renewed uncertainty about euro zone debt prompted investors to
sell ahead of the weekend. Silver continued to recover from last week's 25 percent correction, and technical charts suggested the metal could stabilize
after bouncing off a key support level. Spot Gold fell 0.7 percent to $1,492.50 an ounce by, having earlier risen as high as $1,516.40. U.S. Gold futures for
June delivery settled down $13.20 at $1,493.60, after trading in a range from $1,482 to $1,516.40. For the week, Gold was flat after shedding nearly 5
percent last week during a commodity rout.

MCX Newsletter for 16 may 2011

Copper finished firm on Friday, Stocks in LME warehouses rose 800 tonnes
Oil rose on Friday in late short-covering, ending the week higher after a volatile session whipsawed by European economic concerns and news Libyan leader Libyan leader Muammar Gaddafi may have been wounded. Gold fell on Friday, sharply reversing early gains, as a dollar surge against the euro and renewed uncertainty about euro zone debt prompted investors to sell ahead of the weekend. Copper finished firm on Friday, reacting to upbeat data from the United States and Europe that helped restore some market confidence and economic recovery optimism.
Oil rises in late short covering.
Silver finishes week down 1.5 pct
Gold ends week flat, dollar rally triggers selling

MCX Bullion and Metals Report today 14 may 2011

MCX Comdex-
The composite index of metals, energy and agro-commodities was up by 0.33% to 3,408.87 points, MCX Metal index was up by 0.38% to 4,435.66 points and MCX Energy index was up by 0.08% to 3,166.86 points.
Bullion:
Gold June 11 contract was up by 0.19% to Rs 22,098 per 10 grams, GoldM June 11 contract was up by 0.19% to Rs 22,106 per 10 grams, Gold guinea July 11 contract was up by 0.21% to Rs 18,052 per 8 grams and Gold Petal July 11 contract was up by 0.13% to Rs 2,274 per gram. Silver July 11 contract was up by 0.72% to Rs 54,400 per kg, SilverM June 11 contract was up by 0.77% to Rs 54,438 per kg and SilverMIC June 11 contract was up by 0.74% to Rs 54,461 per kg. 
Metals: Click Here To Read More Copper
Lead mini July 11 contract was up by 1.67% to Rs 106.40 per kg, lead July 11 contract was up by 2.78% to Rs 105.50 per kg, zinc July 11 contract was up by 1.31% to Rs 100.50 per kg, zinc mini July 11 contract was up 1.46% to Rs 100.80 per kg, copper June 11 contract was up by 0.86% to Rs 402.60 per kg, alumini July 11 contract was up by 1.15% to Rs 118.70 per kg, nickel July 11 contract was up by 0.78% to Rs 1,133.70 per kg while aluminium July 11 contract was down by 0.42% to Rs 118.25 per kg.
Energy:
Crude oil May 11 contract was up by 0.38% to Rs 4,488 per barrel while natural gas May 11 contract was down by 0.32% to Rs 188.10 per MMBTU.
MCX Gold and Silver | Crude oil Tips Click Here

MCX Gold and Silever Reports and Crude Strategy For Today 14 May

MCX Comdex was down by 0.97% to 3,397.73 points, MCX Energy was down by 2.56% to 3,164.47 points and MCX Metal was down by 0.03% to 4,418.70 points.

All bullion contracts showed mixed trend. Gold June 11 contract was up by 1.47% to Rs 22,057 per 10 grams, GoldM June 11 contract was up by 1.44% to Rs 22,063 per 10 grams and Gold guinea July 11 contract was up by 1.40% to Rs 18,014 per 8 grams and Gold Petal May 11 contract was up by 0.13% to Rs 2,227 per gram. Silver July 11 contract was down by 2.30% to Rs 54,013 per kg, SilverM June 11 contract was down by 2.30% to Rs 54,023 per kg, SilverMIC June 11 contract was down by 2.28% to Rs 54,063 per kg and Platinum June 11 contract was down by 3.31% to Rs 2,510 per gram. Click Here To Read More About Gold and Silver
All metals contracts showed mixed trend. Zinc June 11 contract was up by 2.23% to Rs 98.45 per kg, zinc mini June 11 contract was up 2.29% to Rs 98.45 per kg, ironore May 11 contract was up by 1.24% to Rs 7,015 per DMT while lead July 11 contract was down by 2.28% to Rs 102.65 per kg, lead mini July 11 contract was down by 0.76% to Rs 104.65 per kg, aluminium July 11 contract was down by 1.90% to Rs 118.75 per kg, alumini July 11 contract was down 1.88% to Rs 117.35 per kg, nickel July 11 contract was down by 0.72% to Rs 1,124.90 per kg and copper June 11 contract was down by 0.70% to Rs 399.15 per kg.

All energy contracts showed down trend. Natural gas July 11 contract was down by 3.37% to Rs 197.90 per MMBTU and crude oil June 11 contract was down by 2.48% to Rs 4,528 per barrel.
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