MCX Gold Silver Trend and Copper Tips for Today

The positiveness in the international market has supported Gold and Silver prices in domestic market also.

As anticipated, Silver has surged sharply and witnessed a gain of more than 2%. Currently Silver (July) is trading above 55500 level. Gold has reached above 30200 mark, up by nearly 1%.

Crude oil seems to have recovered the bullish trend and its June futures has gained more than 1.20% on MCX. Despite rupee strengthening against dollar, these commodities are doing well on the exchange.

Copper has also breached the resistance level of 411.50 and now the prices are expected to reach 416-419 soon.

MCX Gold (August futures): Buy - 30300, stop-loss of Rs - 30220 and the target – 30450-500

Sell below 30150 TG- 29950-29900

MCX Silver (July futures): Buy - 55550, stop-loss of Rs - 54200 and the target - 55800-56200

MCX Copper (June futures): Buy - 412.50, stop-loss of Rs - 409.50 TG-414.50-416.50

Commodity MCX Updates Today & Gold Silver Trend

MCX crude surged today and with more than 1.3% rise in domestic market, mcx crude oil has risen above 5350 level. International crude is also trading above $108 per barrel. Traders Can buy crude at lower levels.
Precious metals started the day with decline. With nearly half percent decline, MCX Gold is trading near 28700 while MCX silver is moving around 58400 level.
We can see some upside during evening trades therefore day traders can initiate their positions at lower level and wait for upside.
In Base metals, One can buy copper above above 411.50 for the targets of 414.50-416.

MCX Crude and Copper Updates Today

After a lethargic start, MCX copper ended up with a gain of more than 1% and we can expect this upside momentum to continue in today's trade also. Prices are likely to touch 414.50-416.50 so traders can take their positions accordingly.
With Iran's ceasing the supply of oil to UK and France, Crude oil futures extended its northward journey, Technically domestic MCX Crude is looking positive and prices are likely to remain under the range of 5172-5255. Traders can buy crude around 5200 level for the targets of 5240-5255.

MCX Commodity Market Updates Today

The initial strength seen in crude oil is still intact. Crude ON MCX is trading up by 1% . NYMAX crude oil prices have also reached above $101.

After initial weakness, MCX Silver and Gold are now trading positive in Domestic market. With slight edge, Gold is trading near 27500 level.

An upsurge has been seen in base metals so far. After breaching the resistance level of 422.50, MCX copper is now trading at 424.50 and it is likely to touch 427 level soon.

Lead, zinc and Nickel commodities have also surged up nearly 1%.

MCX Commodity Updates for Today: Copper Up, Crude Down

Crude oil is still suffering decline mode due to profit booking and fell almost 0.75% to trade at 5279 level and prices can further go down to 5230-5200 level. NYMAX crude has also slipped below $102 level. A lacklustre trading has been seen in precious metals. Prices are likely to remain consolidated today.

Copper has shown good shine and now trading around 405 level. Copper can touch 409 level if it manages to stay above 405.50 level. 

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MCX Commodity Market News and Trend Today

The weaker dollar index led the commodity market to end with mixed sentiments.

Gold traders remained skeptical and this yellow metal closed with slight decline. MCX Silver gained over 1.5%.

In Base metals Copper (Feb Futures) managed to close above Rs. 400. Traders can buy copper mcx above 404.50 and target 409.50 level for today.

Crude oil is also looking bullish today.

MCX Commodity Updates for Today

Crude Oil is trading slightly lower on MCX and so is MCX Gold. Silver is trading with positive bias and its march contract is trading around 51150 level. A trade above 51250 will be required to persuade traders to start buying in MCX Silver. Copper trend is looking bullish. As long as prices prevail 406 level, we can expect prices to reach up to 408-409.50 for the day.

Copper Updates and Trend for Today

The trade action for Copper MCX is seems to be choppy and lacklustre. Still Since the US commodity market is open today, we can not expect a plunge for today still prices may target 403.50 on downside to take a rebound. The Short term trend for Copper is positive. Traders can adopt buy on dips strategy.