MCX Bullion Tips & Trading Trend

After Thursday's sharp fall in the domestic market due to weak RS gold price has recovered. MCX gold at the moment is 0.75 percent higher at Rs 30700. However, on COMEX gold is trading lower.

Silver looks strong it is 0.8 per cent above on MCX and silver price is above Rs 57 800. On Comex silver is trading around $ 30 with the rise of 0.5 percent.

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Commodity Report- Gold Silver Crude Copper Tips & Trend

On MCX  Gold closed at Rs.30,977/10 gms after a sharp fall yesterday. It touched an intraday low of Rs. 30,956/ 10gms. MCX silver prices fell 2.2 % by following a bearish trend in the spot silver and closed at Rs. 59,959/kg. It touched an intra-day low of Rs. 59,858/kg
Crude oil prices declined 0.6 % and closed at Rs.4,832/bbl. It touched an intra-day low of Rs.4,785/bbl. MCX Copper prices ended on a flat note  and closed at Rs.434.6/kg  It touched an intra-day high of Rs. 435.7/kg.

MCX Gold Dec : Sup-  30870/30760  Res- 31070/31170 
MCX Silver Dec : Sup- 59500/59100  Res- 60200/60600
MCX Copper Nov : Sup- 432.0/430 Res- 436.50/439
MCX Crude Oct: Sup-  4770/4730  Res- 4870/4920

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Free Trend- Gold Silver Copper | MCX Trading Tips Today

MCX Gold December Contract is looking bullish for the day. Market may find support near 31280 & 31170; intraday resistance can be seen near 31390 & 31480. Buy is suggested for intraday on dips. Buy around 31280 with Stop Loss placed near 31170 and for the target of 31390 & 31480.
 
MCX Silver December is showing up trend today and it is suggested to to buy for intraday on dips. Buy around 61650 with keeping stop loss at 61100 and for the target of 62000 & 62500.

MCX Copper November is also giving positive signal. Hence it is advised to buy on dips for intraday. Buy around 436 with SL 433, for the target of 
439 & 442.

Bullion Metals Technical Support Resistance Today|Commodity Market Updates

Globally we see a downtrend in commodity market. Gold at Comex is trading at 1750 at 1764. US dollar index trading at 80 now at 80.19.NYMEX crude trading above 90 now at 91.70.Dow future trading with 29 points down.

Gold December closed at 31312. On downside 31250 remains support for the day. A decline below this level would take the prices to 31100 levels. 31450-31500 would continue to act as resistance levels.

Copper November closed at 438.80. Copper prices continue to trade sideways, a decline below the support of 436 levels would drift prices lower towards 432.00 levels. 443 would act as resistance for the day.

Gold Silver Updates and Trading Tips

A slight decline has been seen in Gold and silver commodities in MCX. Yesterday Gold managed to close above 29450 level and witnessed a rise of 0.60%. Currently Gold is trading with negative bias and with slight decline of nearly 0.10%, trading at 29420 level. 29390 is the nearest support to prevent the downfall. If Gold breaches this level, we can expect a fall till 29300-29250 level.

Silver witnessed a marginal gain yesterday and closed above 52920. Today, it is trading around 52800, near its immediate support of 57750 level. The Trend is likely to remain range bound. Traders can initiate long positions at lower levels.

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

MCX Gold Silver Trend Today

Bullion Metals have seen a sharp decline in this week. MCX Gold, with the decline More than Rs. 1500, has come down to 28500 level. Currently On MCX, Gold June Contract is trading at 28478 level. Though Domestic Gold is trading above as compared to the international market where Gold prices have dipped to four months low. MCX Silver (July) has suffered more than1.30% decline and it is trading below 53400 level. A decline in dollar index may extend this bearishness in precious metals.