MCX Gold Silver Trend Today and Trading Strategy

MCX Gold Trend

MCX Gold June contract opened negative today and we might see bearish trend again which we are witnessing at the current moment. Simmering selling sentiments could succeed only with concrete trades below 28420 region, Else hold the same to activate a short covering mode to test upside levels of 28580/28650 or even higher. But break below 28400 region may strew further selling pressure Towards 28340/190.

MCX Silver Tips- 

As long as prices stays below 54800 likely to drag prices lower towards 54100 initially followed by 54000 or even more later. Prices have to close above 56600 to negate our bearish sentiments and reverse the momentum

MCX Silver and Gold Trend Today and Trading Tips

The day started with a slight fall in Gold while Silver has climbed up sharply. MCX Gold (Feb Futures) is trading near 27500 while silver with a gain of nearly 1.4%, is trading around 52500 level. Comex gold is trading higher so we can expect prices in MCX to raise during evening trades. So traders can buy gold above 27530 for targets of 27600-27700-750. Silver may take a rally towards 53200-53500 above 52750.

MCX Silver Updates and Commodity Market Trend for Today

After the initial fall in silver prices have stabilized.However International Silver is in up-trend but there is pressure on the domestic market After touching a record level of Rs. 75,000 last year Silver has been declined 30-35 per cent.

The silver on MCX is trading around Rs. 51700 with mild weakness. With the decline of 0.35 percent on MCX gold is trading at Rs. 27650. Crude oil has Slipped 0.5 per cent and it is trading around Rs. 5330. Copper has slipped below 400 level and and it is likely to remain under selling pressure for the day.

Crude Updates and MCX Gold Silver Trend Today

Political crisis in Iran and inventory reduction in US has supported the Crude oil prices in the international market. However strengthening of rupee against dollar has brought domestic crude prices under pressure. Currently on NYMAX crude oil has risen above $102. Despite the slight decline on MCX crude oil remains above Rs 5,400.

A decline has been seen in precious metals in the domestic commodity market. However COMEX gold has risen above $1615. In the evening trade we can expect some bullish run in bullion metals.

MCX Gold Silver Trend Today and Copper Updates

The effect of strengthening gold and Silver in international market is also being witnessed in in MCX as well. With a gain of more than 1.5% Gold has moves above 27200 while silver is trading around 51150. Precious metals are likely to prevail the momentum in near term.

Also there is a surge in crude oil and copper commodity. Copper Trend is positive and above 404.50 it may test 409 level soon.
 Get Free Silver Tips Today

MCX Commodity News and Live prices for Today

Initial rapid rise in base metals has now been ceased. A decline has been in in all the metals traded on MCX. Copper with nearly 1.3% decline, trading around 407 level while MCX nickel has lost nearly 1.5 % to trade around 957 level. Other base metals like zinc and lead also have declined nearly 1%.

Commodity Gold and Silver declined sharply today. Silver with 1% decline and Gold with 0.60% decline trading around 56360 and 28930 respectively.