Gold Silver Tips, MCX Crude Trend Today

Despite the decline in the international market, gold – silver metals with crude have been string today. In-fact prolonged trading at lower levels and continues ups and downs in the prices is seems to be over now and we can see some major movement in the market.
MCX Gold is expected to trade higher and we can see Gold to trade above 30000 level today. Silver can be an intraday pick above 53350 level and one can go for the targets of 53600-53750 level.

MCX Crude oil is also trading up 0.30% and prices are expected to trade above 5100 level. Day traders can initial long positions above the same for the targets of 5150-5170 level.

Commodity Tips: Gold Silver Trend and Crude Updates for Today

Gold Silver Trend

Weak trading in gold and silver is being seen today. Wth gold at Rs 29660 up by only 0.18 and at a slight fall to trade at Rs 53158, precious metals are trading sluggish in MCX. Declining trend in the international market is also being seen in gold and silver which has checked the momentum in domestic market also.

MCX Gold Silver Tips-

Buy Gold around 29750 levels with a stop loss placed below 29200 levels for targets of 30000-30200  levels.

Buy Silver on dips around 53000 level, target- 53200-53500 SL- 52750.

MCX Crude Oil News

Crude oil trend in the domestic market is weak. It has come down below 5000 and trading near 4980 level. However The U.S. Fed has assured that if weakness in the economy is seen , it will take appropriate steps to recover the same. This statement of federal reserve may support the falling prices. Technically Buying is recommended only above 5000 level.

MCX Crude and Copper Trend for Today

Yesterday Crude oil prices closed lower ahead of  U.S. Federal Reserve's statement today. Crude settled nearly 2% lower on NYMEX. Today MCX crude made an negative opening and now prices are trading near the support level of 4900 level. Breaching the same may extend the bearishness in the market.

Base metals are down today.MCX copper is heading towards its immediate support level of 40.50 below which it may slip to 418. Major downside is expected below 416. A trade above 424 may bring back the bullish momentum,

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.