Commodity Tips- Gold, Silver and Crude Oil Analysis Report Today 13 July 2011

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Gold, Silver, Crude Oil, Basemetals and Agri Commodity
On MCX The Gold Futures trading in higher level and making marginal change. The contact nearing its all-time high, as fears of euro zone debt crisis spurred safe-haven buying in the yellow metal, pushing traders to the sidelines. Overseas gold and silver in London spot respectively traded at USD 1,552.75/oz, down 0.80 and USD 35.90/oz, up 0.10. MCX most active August contract at Rs 22,587, up Rs 115 and so far moved between Rs 22,594- 22,516/10gm. Volumes were 3,423 lots.

MCX Silver Overall trend of the Silver is bearish for medium-long term .Currently Silver is in strong uptrend and the trend is supported with good volume The open interest is not increasing with trend.

Baemetals trading on higher level and gaining during opening hours of trading on MCX and the trend is consolidate.Make position in Copper and Alluminium with stoploss and cheched out support and resistance for today.

Energy Crude Oil trading in upper level and gaining from opening. it indicate buying signal.

Mentha oil spot prices were quoted bearish in major markets on Wednesday as prices shed in range of Rs 10-15 a kg. Increased arrivals and declining demand weighed up on the prices.
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