Gold Silver Tips- Bullion Updates

silver prices has fallen sharply today. MCX silver has witnessed a decline of 1.5% while Gold heading towards 28900 level after suffering a downfall of more than 0.70%.

The bullion metals started the day with negative bias and extended losses. Silver is finding its support level at 53000 level and below this mark, more downside is expected. If silver shows any positiveness after reaching 53150, traders can make a buying decision. The same strategy of buy on lower levels is advised for Gold commodity also. Intraday buy position can be taken near 28800 level.

Silver Tips Today

The Bullion metals are likley to trade in sideways mode. However currently MCX silver (July contract ) is trading marginally up nearly 0.06% and it touched an intra-day high of Rs 54867.

Technically to achieve proper bullish pace, this precious metal is required to trade consistently above 54800. Today, Rupee has recovered strongly and this recovery can help persisting the downside pressure of Gold and Silver prices.

If silver traders below 54450, traders can go for sell for the targets of 54150-53850. 

Bullion News- Gold Silver Trend

MCX Gold -Price have been trading with a negative bias, but even in this scenario unable to break below  28720 region could up thrust prices towards 28900/960 or even higher towards 29050. But break below 28700 region could ignite fresh selling pressure towards  28650/540 or even lower towards 28470.

MCX Silver- 



Likely to be choppy inside the range of 53700-54400  levels with mild positive bias. Either side breakout would suggest fresh directional moves.

MCX Gold Silver trend and Crude Updates

A sharp decline has been seen in NYMAX crude prices an affect of which can be seen in domestic market also. International crude oil is trading near $91/barrel. This decline along with the weaker rupee can cause a bearish trend in MCX crude oil. Prices have strated goin down and breaching the level of 5090 can further push the prices to 5050-5000 level.

Bullion metals are also in downside. Silver is trading below 54000 mark and traders can sell mcx silver below 53850.

MCX Gold is currently trading above 29000 level. The trend of Gold is still negative.

MCX Copper & Crude Updates: Commodity Tips for Today

On London Metal exchange, Copper is trading with nearly 1.5% gain. On MCX, Copper is facing strong resistance near 426.50 and a consistent trading above this level can elevate the prices to 430-433 level. Copper trend is likley to remain positive and it could be a better pick to buy in base metals for intraday.

Crude prices also trading higher on MCX. With a gain of nearly 40%, mcx crude is trading near 5075 level. International NYMAX crude has also witnessed positiveness today. So prices are expected to touch 5100-5155 level today.

MCX Crude and Copper Updates Today (18 May)

NYMAX Crude is trading stringly around 92 dollars a barrel. On Thursday, crude oil in the domestic market, gained 0.28 per cent to close at Rs 5034.

Crude prices ate elevating today also and we can expect prices to reach 5100 level.

Consistent trading above 5050 can be a buying opportinity for crude traders.

Copper is also shining with nearly 1% upside on LME. MCX Copper closes at Rs 419 and currently its trading near 422 level. It may rise further up to 426-428 in today's trading session.

Silver Tips: Weekly Trend & Intraday Tips for Today

COMEX Silver is technically weak on charts for near term. Last week Silver was trading on lower side for most part of the week and finally closed below 3000$ mark. For the upcoming week 2650 $ and 2450$ are the crucial supports and 3350$ and 3550$ are crucial resistance in COMEX Silver. On MCX, Silver is likely to continue the bearish trend. Silver could face major resistance at the levels of 56500 and 58500. 52500 and 50500 will act as major support levels.

 Silver Tips for Today- Decline in International bullion metals have affected gold and silver severely in domestic market also. Although a slight decline has been seen in MCX gold, but silver has broken more.

 MCX Silver (July futures): Sell - 54350, stoploss of Rs - 54500 and the target - 52900-52650

MCX Gold Silver Trend Today and Trading Strategy

MCX Gold Trend

MCX Gold June contract opened negative today and we might see bearish trend again which we are witnessing at the current moment. Simmering selling sentiments could succeed only with concrete trades below 28420 region, Else hold the same to activate a short covering mode to test upside levels of 28580/28650 or even higher. But break below 28400 region may strew further selling pressure Towards 28340/190.

MCX Silver Tips- 

As long as prices stays below 54800 likely to drag prices lower towards 54100 initially followed by 54000 or even more later. Prices have to close above 56600 to negate our bearish sentiments and reverse the momentum