MCX Commodity Daily News Letter 1 June 2011 | Gold and Silver Tips

GOLD STEADIES NEAR 4-WEEK HIGH; GREECE IN FOCUS.
OIL GAINS FOR SECOND DAY ON KEYSTONE PIPELINE, U.S. CONSUMER CONFIDENCE.
COPPER HITS FOUR-WEEK HIGH AS EURO GAINS.
DOMESTIC OIL SEED AND EDIBLE OIL EDGE UP.   
Technical Views of Gold and Silver Click Here
Gold holds near 4-week high.
Silver set for worst monthly slide since 2008.
Drop in the dollar against the euro.
Oil jumped by more than $2 on Tuesday.
Copper hits four-week high.
LME aluminium stocks fell 3,525 tonnes.
Gold steadied around its highest in nearly four weeks on Tuesday, but surrendered earlier gains after a report that Germany could smooth the way for Greece to get a bailout. Copper rallied to a four-week high on Tuesday, supported by a firmer euro after expectations mounted that a second aid package for Greece would get the go-ahead and after a series of poor U.S. data.
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Precious Metals Call Intraday | MCX Technical Market Highlights

MCX Precious Metals Calls Intraday

Silver Buy Above 58280 Stoploss 58180 Target 58450 58550

Gold: Buy -22500, - Stoploss 22450 target -22590

After the initial fall in silver is to get up on.
Amid weak trend overseas, gold continued its yesterday''s slide to trade 0.24 per cent lower in futures trade today.

Also, stronger rupee against the US dollar put some pressure on the precious metal prices at futures trade here.Technical View Of Gold and Silver>>>> Click Here
At the Multi Commodity Exchange, gold for delivery in June declined by Rs 53, or 0.24 per cent to Rs 22,438 per 10 grams, with a business turnover of 1,398 lots. It had ended 0.13 per cent lower at Rs 22,491 per 10 gram in yesterday''s trade.
Likewise, the metal for August delivery lost Rs 36, or 0.16 per cent to Rs 22,708 per 10 grams, with a business volume of 1,156 lots.

Advantage of strong business in foreign markets is to find crude oil. Crude oil have gone up today, on MCX crude oil is trading at 2 per cent growth. NYMEX While the price of crude oil above 102 dollars reached.

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MCX Daily Newsletter 31 May 211 | MCX Technical Analysis Views

GOLD STEADY ON GREECE DEBT FEAR; SHANGHAI MARGIN WEIGHS.
OIL DROPS ON SPECULATION FUEL DEMAND FALTER AS U.S. ECONOMY WEAKENS.
SHANGHAI COPPER FALLS; GLOBAL ECONOMY WORRIES WEIGH.
MOST SPICES TRADE WEAK, TURMERIC FUTURES MOVES MODERATELY UPWARDS.MCX Silver and Gold Technical View Click Here

 The dollar hovered near a two-week low against a basket of currencies.
Gold steady on Greece debt fear.
Brent crude oil fell below $115 a barrel on Monday.
Silver rose as much as 1.3 percent to $38.36.

Gold held steady on Monday, buoyed by the ongoing debt crisis in the euro zone, whilesilver trimmed gains as a hike in margins by the Shanghai Gold Exchange kept sentiment in check. Shanghai copper fell on Monday on technicals, European debt problems and uncertainty about the monetary policies of the United States and China, on track for a 1 percent loss in May.
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Gold and Silver Decline today | MCX Gold and Giving Golden Chance

MCX Bullion Evening Calls INTRADAY

MCX Silver Buy Above 57500 Stoploss 57300 Target 57750 57850

MCX Gold Outlook
Gold declined by Rs 45 to Rs 22,820, while silver shed Rs 350 to Rs 57,250 per kg on Monday due to a weakening global trend amid sluggish local demand.
Traders said sentiments turned weak after both the precious metals recorded fresh losses in the global markets along with lack of buying interest at prevailing high levels in the local markets.
Gold in global markets, which normally sets a price trend on the domestic front, eased by USD 1.40 to USD 1,535.10 an ounce, while silver shed 0.21 per cent to Rs USD 37.88 an ounce.
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On the domestic front, silver ready fell by Rs 350 to Rs 57,250 per kg and weekly-based delivery declined by Rs 335 to Rs 57,250 per kg.
Silver coins followed suit and declined by Rs 1,000 to Rs 65,000 for buying and Rs 66,000 for selling of 100 pieces.
In line with a general weakening trend, the gold of 99.9 and 99.5 per cent purity declined by Rs 45 each to Rs 22,820 and Rs 22,700 per 10 grams, respectively.
However, sovereigns remained steady at Rs 18,700 per piece of eight grams.
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Buy Silver Above 57150

Buy Silver

MCX Bullion Weekly report 30 May to 4 June 2011

MCX Precious Metals Fundamental Report 30 May To 4 June

GREEK DEBT, WEAK DOLLAR SEND GOLD TO 3-WEEK PEAK 

Gold prices stayed near three-week highs late into Friday's session, as
worries about Greece's debt crisis encouraged buying by investors
looking for relative safety and a softer dollar underpinned sentiment.
Spot Gold hit $1,538.10 a troy ounce, its highest since May 4. It
remained close to that peak at $1,535.60. Read More Click Here

MARKET OVERVIEW For Gold
COMEX Gold is in an upward phase. Last week
COMEX Gold sustain above 1520$ and made a
close near to its week high. In the coming week
1475$ will act as a major support in COMEX Gold, if
COMEX Gold sustains above 1530 $ an ounce
then above 1540 $ an ounce it can touch the level of
1552$ an ounce and if COMEX Gold sustains
below 1500$ then it can slightly correct and test the
level of 1485$ an ounce

STRATEGY STRATEGY MCX Gold and Silver Technical Views>> Click Here
For the next week traders can use buy on lower level strategy if COMEX Gold sustains above 1530 $ an ounce, then Technically COMEX Silver is bullish on charts and still in an upward channel, For the next week traders can use buy on
above 1540$ it can test the level of 1552 $ an ounce and above 1555$ it can further move upward. Trade by keeping lower level strategy if Silver sustains above the level of 3600$ an ounce, then above 3900$ an ounce it can further go
the strict stop losses. upward and can test the level of 4000$ an ounce. Trade by keeping the proper stop losses.
Major support for COMEX Gold in the coming week is 1500$ and 1460$.
Major resistance for COMEX Gold in the coming week is 1580$ and 1625$
Major support in MCX Gold is 22150 and 21800
Major resistance in MCX Gold is 22850 and 23050

MARKET OVERVIEW For Silver
COMEX Silver is technically consolidating on
charts. Last week COMEX Silver was sustaining at
higher levels for most part of the week. For the
upcoming week 3620$ and 3480$ 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 55000
and 53000 will act as major supports.

STRATEGY STRATEGY
Technically COMEX Silver is bullish on charts and still in an upward channel, For the next week traders can use buy on
lower level strategy if Silver sustains above the level of 3600$ an ounce, then above 3900$ an ounce it can further go
upward and can test the level of 4000$ an ounce. Trade by keeping the proper stop losses.
MCX FREE Basemetals(Copper,Zink,Nickel) and Crude oil , Natural Gas Weekly report Click Here

MCX Silver Buy Target 56000

Silver : Buy - 55200, Stoploss - 55000, Target – 55350 55450

MCX Silver 60000 This Month Read More 

MCX Precioumetals Call | MCX Market News

Gold futures as for June delivery went up by $3.40, or 0.2% to settle at $1,527.80 an ounce soon after trading in the range of $1,532.50 to $1,521.30, on the Comex division of the New York Mercantile Exchange, whilst the spot gold prices reduced by $0.30 to settle at $1,525.80 an ounce.
Silver rates increased by 1.18 % to Rs 55,702 a kg in commodities trade right now on back of a firming craze in world-wide industry.
A much better craze in spot sector on increasing requirement pushed by the continuing wedding time also helped the benefit in silver rates in commodities business right here.MCX Silver and Gold Technical View Click Here
At MCX, silver for supply in July rose Rs 651, or 1.18 %, to Rs 55,702 a kg, with a business turn over of 3,696 lots.
The white-colored material rates for supply in September additionally rallied by Rs 639, or 1.15 %, to Rs 56,400 a kg, with a company turn over of 173 lots.
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