Bullion Trend: MCX Silver Tips, Gold Trend Today

Bullion commodities may see some upside today. After initial decline seen in international market, Comex Gold and Silver have started gripping the positiveness again. As an result, ,MCX silver is trading up in domestic market. However recovery in COMEX futures is not helping gold prices on MCX and Gold is trading down slightly as the rupee appreciated more than 1% against the US dollar.

Day traders can initiate buy above 53300 for the targets of 53500-53650 levels. If Silver breaches 53750 today, we can expect a rally towards 54000-54500. A direct fall below 53200 may cause decline down to 53000 again.

Commodity Tips for Today-

Buy Gold above 53300 TG-53500-53650

Buy Copper Above 421.20 TG-424.00 Stoploss- 418.70

MCX Gold Silver Tips for Today

Bullion metals had to undergo profit booking today after yesterday's rise and started recovering thereafter. Now silver is trading above 53500 level and we can expect this momentum to extend till 53650-53750 level if it successfully sustains above 53550 with volume. However inability to maintain 53500 can invite lower levels again.

Day traders are advised to long silver above 53550 for the targets of 53700-53750-53900.

Major upside is expected above 54100 level.

One the other hand, MCX Gold is also trading above 29800 level and as long as prices remain above 29800, we can expect a bullish momentum towards 29900-29950 level.  

Gold Silver Updates and Trading Tips

A slight decline has been seen in Gold and silver commodities in MCX. Yesterday Gold managed to close above 29450 level and witnessed a rise of 0.60%. Currently Gold is trading with negative bias and with slight decline of nearly 0.10%, trading at 29420 level. 29390 is the nearest support to prevent the downfall. If Gold breaches this level, we can expect a fall till 29300-29250 level.

Silver witnessed a marginal gain yesterday and closed above 52920. Today, it is trading around 52800, near its immediate support of 57750 level. The Trend is likely to remain range bound. Traders can initiate long positions at lower levels.

MCX Gold Silver Tips for Today

With 0.24 per cent gain on MCX gold is trading at Rs 29230. Silver has gained 0.5 per cent to trade at Rs 52970. International Bullion metals have witnessed a strong upside today which has supported the domestic market also.

MCX Gold Silver Tips for Today

MCX gold (August futures): Buy - 29200, stoploss of Rs - 29100 and the target - 29350

Silver MCX (September futures): Buy - 52700, stoploss of Rs - 52300 and the target - 53500

MCX Silver Tips & Gold Trading Levels

INR/USD rose up to 54.750 after positive inflation data which however momentarily brought back some hope in the market but these hopes soon vanished. Bullion metals on MCX are trading lower as rupee is getting strong against dollar.

MCX Gold is currently trading near its crucial support level of 29150 and if Gold shows a recovery move around 29150-29200, traders can buy this commodity for the targets of 29300-29450-29600 level for near term. Do keep a strict stop loos near 28950 level.

MCX Silver is also trading near the support level of 52250, If Silver manages to stay above this level, one can buy silver for the targets of 52750-33200 level.

Commodity Alerts: Crude oil trend and Gold Silver Updates

Despite the rupee getting strong against the dollar, On MCX crude prices have seen upside. However, selling pressure in international crude oil remains the smae. While in China, second quarter GDP figures have gone below the level of the last 3 years.Europe and America are also showing no signs of improvement.

Gold and silver remains in the initial consolidation phase.Although gold and silver in the international market is showing some strength back.

Early weakness in base metals is intact. Copper on the LME over half Fsidi pain has been strong. While on MCX crude is trading sideways with some earnings in its pocket. With nearly 0.60% rise, copper is trading around 425 level.

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