Crude Updates and Gold Silver Trend for Today

MCX crude continued declining on Wednesday also and dipped nearly 1% hitherto. July contract of crude is trading near Rs. 4700. However some buying sentiments could be seen on lower levels. So traders are advised to take position on dips. If crude seems to show recovery after 4650, traders can bet buying near this level while consistent trading below the same would extend the bearish trend.

Gold may probably remain range bound and as per the technical analysis, International spot gold can drop to $1,553 an ounce during the day.

Back in MCX, Gold has come down to 29300 level and still under selling pressure. Silver has shown some recovery at lower levels but the trend is still inconsistent. For day trading, Buy on lower levels in Gold & Silver commodities.

crude Trend and Commodity Tips For Today

Crude oil prices have declined sharply in international as well as domestic market. MCX crude has suffered more than 1.30% decline and it has slipped from Rs 4800/ Barrel to 4740 level. Brent crude has decline the most after  after Norway ended an energy strike. This has also affected the crude prices. The trade data is going to released today in china which may also affect the oil prices.

Crude Trend & Trading for Today- Trend is bearish  and if it does not see a bounce back at 4700 level, we can expect more downside in crude oil.

Sell Crude below 4680 TG-4650-4630 SL-4724

Buy Above 4755 TG-4790-4820

MCX Gold Silver Tips for Today

Gold & Silver Commodities are trading flat in international market. Comex Gold is trading around $ 1,600, while silver is at $ 27.75 per ounce. On Monday, Gold closed flat in the domestic market with a turnover to Rs.29661. MCX silver was up 0.30 per cent to close at Rs 52150.

MCX Bullion metals are expected to trade with positive bias today. However Gold may suffer a bit due to anticipation that rupee may strengthen further. Silver is strong above 52350.

Buy Gold above 29650 TG- 29850-29900 SL-29500

Buy Silver above 52350 TG- 52500-52750 Sl- 52100

MCX Silver Tips, Gold Trend For Today

Gold prices trading down as US Dollar Index (DX) declined around 0.2 percent today. At the MCX, silver is trading at Rs. 53370 and declined more than 0.50%. It may find support at the level of 53100 where we can see some recovery move. So traders can go for buy at this level according to the trend.

Gold may slip down to 29900-29700 level if it does not sustain the level of 30000. Currently trading at 30046, mcxgold has immediate support of Rs 30000 while resistance has been seen at 30130 level. Traders can take their positions according to these levels.

MCX Gold & Silver Trend for Today

MCX Gold prices have touched the record level and crossed 30400 level. However Comex Gold is trading 15% below its record level. Weakness in rupee against the dollar has supported gold prices in MCX. Also, HSBC's prediction that International Gold prices may reach upto $1900 by the end of this year has initiated  a positiveness in the market. Silver has also crossed 55000 level and with a gain of more than 0.30%, its trading at 55100 level. One can buy silver for the target of 55500.

MCX Gold Silver Trend for Today

MCX Gold trend is bullish and we can expect prices to rise up to  30200-30300 level. Major resitance is seen near Rs. 30300 and next resistance is  30500.


MCX Silver trend is also bullish, Prices can taste 55500-55800 level. 54800 is the immediate support for most active futures of silver commodity.


Buy Gold for the TG of - 30200-30300 and Silver for the target of 55500-55800.

Commodity Tips: Silver & Gold Updates

Amid  various up and down movement of trend lines, bullion metals are moving in directionless manner. Gold after travelling in green belt initially, has slipped down below crucial level of Rs. 30000 and currently trading around 29950 level. It is providing the day traders with an opportunity to buy on lower levels. MCX Silver has also declined by 0.30% and  has come down below 55000 level. Silver If does not hold the level of 54800, it may further decline to 54500-54300 level while staying above 55000 would fortify the bullish trend.

MCX Gold (August futures): Buy - 29900, stoploss of Rs - 29800 and target - 30150-30250

MCX Silver (July Futures): Buy 54900 TG- 55200-55500, Stoploss- 54750

MCX Crude Updates Today

Crude Oil prices have boomed in all the indexes across the world. NYMAX, ICE and MCX have witnessed crude prices a gain of 2-2.5 %. Increased volume of crude oil import in China has supported the crude prices globally. However the bullishness seen in crude doesnt seem to be long lasting . Experts say that Crude may again suffer a correction of 150-200 points so traders need to remain cautious from the sudden glitter coming from crude oil. Prices on MCX have reached above 4751 level. Technically crudeoil is taking support near 4690 level while resistance can be seen at 4830.