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

Copper Trend and Bullion Metals Updates

All Base metals are trading higher on MCX. However MCX copper hit lower level of 398 yesterday but today it has recovered up to 410 level with a gain of nearly 0.60%. Traders can buy Copper above 411.50 level for the targets of 414.50-416.

In Bullion metals, Strengthening of the rupee against the dollar is preventing Gold prices to go further above 30000 level. Still Gold silver are in positive trend. One can buy silver above 54100 for the target of 54600.

MCX Crude and Copper Trend Today (4th June 2012)

Crude oil has completely taken over by the fall.  The decline seen in crude oil due to weak cues from China, Europe and the United States, is still prevailing  On MCX, Crude oil is trading near 4550 and NYMAX crude is already down to $ 83.

MCX Copper has also been facing the decline mode. With more than 1.50% fall on domestic market, this base metal is trading near Rs. 401. Prcies are likely to fall further below 399 level. 

Sell Copper  below 399 TG- 396-392 SL- 405.50

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.