MCX Commodity Newsletter- Gold and Silver Updates

MCX Gold and Silver commodities are in sideways trend. MCX Gold February contract is hovering around 27770 level wit slight decline. Silver MCX march futures is above 53100 level. A choppy consolidate trading is expected in silver commodity also.

Copper is showing a slight momentum. Traders can buy Copper above 409 level .

MCX Commmodity Updates Today: MCX Silver and Gold are Positive, Copper Crude, Oil serged again

Bullion metals are trading higher on MCX. Gold is trading around 27750-800 and prices can touch the level of 27850-900 today.

Uptrend has been seen so far in MCX Silver and this precious metal has jumped up more than 0.50 %. Trading above 53500 would yield more upside momentum in MCX silver.

MCX Crude oil is prevailing its bullish trend and it is looking forward to breach 5300 level today.

Copper prices are also in upside trend. Copper has breached the resistance of 404.50 and now heading towards 409 level.

MCX commodity Updates and commodities Trend Today

MCX Copper ended green on domestic commodity market and touched 400 mark. Today, copper may extend this positive trend steadily to run towards 403-404.50 level.

Nickel on The other hand gave up all the gains of the day and declined over 1% by the end of the day. Still Nickel is a strong recommendation for buying and we can expect prices to cover up losses today.

Gold and Silver traded lower on MCX. The precious metals are likely to prevail this trend. Crude oil again boosted up.

Commodity Newsletter For Today- Copper Updates

Copper rose sharply on Tuesday. On LME it witnessed 1.7% rise. The Favourable economic data and positive cues led copper to trade higher. Today Copper is trading above 396 mark which is favouring more upside. For last couple of weeks copper was consolidating near 395 which has broken now.


Negative inventory data from LME also supported copper prices.

MCX Commodity News and Trading Updates for Today

Positive cues from the international market led commodities in domestic market to trade higher. After successfully crossing 27800 level today, Gold is now heading towards 27900-28000 level. A concrete trade above the same will invite further gain in MCX Gold.

Silver is in Intraday bull trend and has gained almost 1%. Trading above 53500 and targeting 53800-5400 would be feasible for day traders.

Today.Nickel can be a best option to trade in. This base metal is likely to cross 1000 level easily. So one can go for long in MCX Nickel also.

MCX Silver and Gold Tips for Today

Precious metals suffered a sharp decline today. MCX Silver has been declined almost 2% and trading around 52700 level while MCX Gold has moved below 27600 level. Below 52650 level silver may slip down to 52200-52000 level while for a recovery move, prices will have to breach 53500 level.

Gold, below 27350 level, is likely to prevail negative trend while above 27750 traders can go for long position in MCX Gold.

Commodity Copper Updates and Trading Strategy for Coming Week

Copper is in a consolidation phase and traders should use the strategy of sell on higher levels. Last week COMEX Copper was able to sustain at lower levels. If next week COMEX Copper prevails the downside trend and remains below the level of 325 then below the level of 321 Copper can test the level of 316/311/305. 

In MCX, Copper sustains below 388 then it can test the level of 383/378/373 if it does not break the level of 402 on the upside.

For the upcoming week 355 and 375 will act as major resistance and 310 and 290 will act as major supports in COMEX.
Copper. For MCX Copper major resistance would be 410 and 430 and supports would be found at 370and 355.

Commodity News Updates: Gold Silver Trend for Today

The Indian commodity market is running with mixed sentiments today. After the initial sharp decline , some recovery has been seen in Gold and Silver metals . Domestic market has seen a marginal decline in gold. Gold prices have moved below 27500 level. While silver is trading at a slight edge. Silver on MCX with a slight bounce is trading above Rs 53600. Because of the strengthening rupee against the dollar, gold - silver had declined significantly during the early trading. Both Gold and silver are trading with negative bias.