Social Icons

Friday, May 27, 2011

Silver, Gold Rise on Global Rebound | MCX Tips

Both the precious metals gold and silver regained at the domestic bullion market here today on renewed buying by stockists and investors on the back of rebound in European markets.

In European trade, the precious metals climbed over concerns of Greece''s debt crisis and a weaker dollar, which fuelled investors buying, taking the metals again to safe haven bet.

 Silver ready (.999 fineness) jumped by Rs 995 per kg to end at Rs 57,705 from its overnight closing level of Rs 56,710.
Standard gold (99.5 purity) firmed up by Rs 60 per 10 grams to close at Rs 22,445 from Rs 22,385 yesterday.

Pure gold (99.9 purity) also gained by Rs 55 per 10 grams to finish at Rs 22,545 as compared to Rs 22,490 previously.
In Europe, spot gold was bid at USD 1,525.29 an ounce in early trade from USD 1,518.10 late in New York yesterday.
Spot silver was bid at USD 37.66 an ounce from USD 37.24 previously.
MCX Technical Chart and Calls

MCX Precioumetals Call

Buy Silver Above 57200 Stoploss 57000 Target 57400 57500 57600
Click Here To Read More

MCX Commodities Outlook | MCX Precious Metals Report

MCX Comdex was up by 2.85% to 3,483.29 points, MCX Energy was up by 2.63% to 3,217.73 points and MCX Metal was up by 3.51% to 4,544.57 points.
MCX Silver Gold Outlook MCX Gold and Silver Technical Views>> Click Here
On Thursday, heavy ups - and downs today after strong gains in silver. MCX silver at 1.5 percent growth is retained. Gold is also traded on the edge. While the Base Metals business today is better visible. Lead and nickel is trading at the highest edge.
All bullion contracts showed up trend. Gold June 11 contract was up by 2.25% to Rs 22,377 per 10 grams, GoldM June 11 contract was up by 2.24% to Rs 22,384 per 10 grams and Gold guinea June 11 contract was up by 1.70% to Rs 18,040 per 8 grams and Gold Petal July 11 contract was up by 1.77% to Rs 2,302 per gram. Silver July 11 contract was up by 6.45% to Rs 56,554 per kg, SilverM June 11 contract was up by 6.44% to Rs 56,570 per kg, SilverMIC June 11 contract was up by 6.41% to Rs 56,584 per kg and Platinum June 11 contract was up by 1.20% to Rs 2,540 per gram.
MCX Basemetals Outlook
All metals contracts showed mixed trend. Lead May 11 contract was up by 3.02% to Rs 114.15 per kg, lead mini June 11 contract was up by 3.06% to Rs 114.50 per kg, copper June 11 contract was up by 1.93% to Rs 412.95 per kg, zinc May 11 contract was up by 5.56% to Rs 101.65 per kg, zinc mini May 11 contract was up 5.56% to Rs 101.65 per kg, aluminium May 11 contract was up by 3.34% to Rs 115.95 per kg, alumini May 11 contract was up 3.39% to Rs 116.00 per kg, ironore May 11 contract was up by 0.97% to Rs 7,061 per DMT while nickel July 11 contract was down by 2.78% to Rs 1,057.40 per kg.
MCX Energy Outlook
All energy contracts showed up trend. Natural gas June 11 contract was up by 4.32% to Rs 198.20 per MMBTU and crude oil July 11 contract was up 1.65% to Rs 4,613 per barrel.

MCX Commodities Daily Newsletter 27 may 2011

U.S. crude extends losses on economic growth worries.
Gold eases as Greek debt worries dent euro.
The euro fell back from the day's highs.
Copper eases on demand, LME copper inventories down.
Technical Views on GOLD and SILVER>> 
Oil fell back on Thursday as disappointing U.S. economic data and renewed euro-zone debt worries stoked fresh oil demand concerns. Gold fell on Thursday, led by a fall in euro-priced bullion and after the single European currency came under sudden pressure, but concern about the euro zone debt crisis was expected kept metal prices supported. Copper eased on Thursday amid lingering concerns over weaker Chinese demand, disappointing U.S. economic data and as Greek fiscal woes weakened the euro.
Read More about Support & Resistance Levels ::
Customers 4.9out of 5.0 based on 33045 user ratings