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.

Commodity Gold and Silver Trend for Coming Week

COMEX Gold is in a technically consolidating on charts for short term. During last week COMEX Gold was trading on higher side and was able to made a close above 1600$ an ounce. In the coming week 1500$ will act as a major support in COMEX Gold and 1740$ will act as a major resistance.

For the next week traders can use buy on lower level strategy if COMEX Gold sustains above 1620 $ an ounce, then above 1640 $ it can test the level of 1660$/1680$/1705$ $ an ounce. And in MCX Gold above 28000 it can test the level of 28150/28300. Trade by keeping the strict stop losses.

COMEX Silver is technically in upward phase. Last week COMEX Silver was neither sustained at

higher level nor at lower level. For the upcoming week 2600 $ and 2400$ are the crucial supports

and 3200$ and 3400$ are crucial resistance in COMEX Silver. In MCX Silver 56000 and 58000 will act as major resistance and 48000 and 45000 will act as major supports.

Technically COMEX Silver is consolidating on charts. For the next week traders can use buy on lower level strategy if Silver sustains above the level of 2940$ an ounce, then above 2975$ COMEX Silver can test the level of 3025/3080/3140$ an ounce. And in MCX Silver sustains above 54000 then it can test the level of 54500/55200/56000, Trade by keeping the proper stop losses.

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 Commodity Updates for Today: Copper and Silver declined

After a positive trading session for a while, Gold prices witnessed corrective selling and subdued the positive trend. Silver On MCX is trading lower with a loss of nearly 1%. Below 52500, a short selling is suggested in Silver MCX. Copper has also declined and trading around its support level of 409. a trade below this level may invite more downside in copper commodity. As far as prices prevails the 409.50 level, copper may regain the bullish momentum again.

MCX Crude Oil Updates and Gold Silver Trend Today

Following the international market trend, Crude Oil has recovered strongly on MCX. With more than 1.4% rise MCX crude is trading above 5400 level. NYMAX crude is also up nearly 2%. Precious metals are also in bullish trend.With nearly 1% rise, MCX Gold is trading near 27640 while silver mcx has already gained around 2% to trade above 52400. A consistent trade above 52450 with volume may extend this bullish trend till 53000-53500 in near term.

MCX Commodity Updates for Today

Crude Oil is trading slightly lower on MCX and so is MCX Gold. Silver is trading with positive bias and its march contract is trading around 51150 level. A trade above 51250 will be required to persuade traders to start buying in MCX Silver. Copper trend is looking bullish. As long as prices prevail 406 level, we can expect prices to reach up to 408-409.50 for the day.

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.
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