Archive for July 2013
Commodiy Trend Today
The Trading pattern in gold futures for August delivery is looking in a bearish face today on MCX is negative on selling pressure and brokers are encouraged to take short position for the day.For intra-day trading, Support for the Gold is seen at 28000 and 27790 levels while Resistance levels range is been looking in 28700-28990 levels. MCX gold futures for August delivery was seen dealing around 0.84% at Rs. 28190 for every 10 grams starting 06.09 PM on Wednesday. On Thursday morning, gold developed its increases moving its misfortune recorded in the prior sessions. Then again, toward the evening the yellow metal has altered its course on offering force and recorded a decay.
While MCX silver is also down by 0.5 per cent to Rs 41350. MCX crude oil is trading around Rs 6430 down by 0.3 percent of the previous close. Natural gas was down 0.5 per cent and trading at Rs 210.
MCX base metals are looking down by 0.2-0.4%. Copper is down 0.2 per cent trading at Rs 421. Aluminium is down by 0.4%, 0.25 per cent nickel, lead and zinc by 0.3 per cent to 0.2 per cent has weakened.
Commodity Tips Today
All commodities are looking in a bearish trend for intraday trading today. We suggest to sell Bullion on higher levels. We suggest to sell Bullion on the Current level and hold the base metals till their support level. For sure shot tips Please fill the trial form.
The trading pattern in copper futures for August delivery on MCX is unstable and brokers are encouraged to remain wary while taking positions for the day. Devaluation of Indian Rupee against US Dollar was seen topping the decrease in the base metal price to certain degree in the local market on Tuesday. As of now Indian Rupee deteriorated by 0.86% against US Dollar.
For intra-day, resistance for the Copper is seen at 412.5 and 416 levels while support levels are seen at 409 and 406. MCX copper for August conveyance was seen exchanging up by o.17% at Rs.411.55 for every kilogram starting 03.02 PM IST on Tuesday. Copper futures for September delivery on Globex stage of COMEX was seen exchanging around 0.67% at $3.087 for every pound starting 03.16 PM IST on Tuesday.
Silver Trend Today
Since May, MCX Copper has formed a pullback rally. It has retraced 61.8% of the previous fall and at that key Fibonacci level copper has formed a distribution since the last few weeks. In terms of the price pattern, it has formed a distribution triangle and has broken out on the downside recently. Thus, the red metal can be considered to have resumed with the larger downtrend. The daily momentum indicator has triggered a bearish crossover. The short-term targets on the downside will be 393.30 and 390. The reversal can be tightened to 416 on a closing basis.
MCX Tips Today
MCX Gold Tips: Sell around 28200 with a stop loss of above 28500 for targets of 27700.
MCX Silver Tips: Sell below 41000 with a stop loss at 41600 for targets of 40000.
Crude Oil Tips: Buy above 6230 with a stop loss placed below 6180 for targets of 6320.
Talking about Bullion both precious metals gold and silver are facing a bearish trend. The price of gold may be slumping, but central banks are not keen buyers as of now, if the latest data from IMF is anything to go by. MCX Gold has strong resistance at 27716 for today, if Gold rush through this level then it may get the 28053 level today and on the down side a possible support level is looking in a range of 27012-26786. On the other has the white metal Silver has also a bearish trend with a strong support level at 40449 and it looking to get 39742 level if it cross its resistance level. However MCX Silver has a resistance at 42444 and 43336 level. As MCX Tips For Today we suggest to sell Bullion Metals on higher level for today's trading.
We anticipate that Crude price will trade on the negative note on the back of mixed trend from international market. Further, weak financial data from China and US might include downside force the costs. Notwithstanding, ascent in stresses over supply disturbance because of progressing agitation in Middle East as well as shortcoming in DX might pad sharp succumb to the price. In the Indian Markets, gratefulness in the Indian Rupee might include downside force the costs. Overall MCX Crude has consolidate to bullish trend with resistance level at 6366 and 6469 and support level at 6188 and 6096 level. For Today We suggest to Buy MCX Crude on lower levels as today's Crude Tips.
MCX Zinc formed a large ending diagonal and tumbled down sharply from there. It has done a pullback, which has remembered 78.6% of the past fall and from that key Fibonacci level it has begun falling by and by. On the down trend, it has broken a transient climbing trend line. Lead has framed a bearish banner example beneath the trend line, which demonstrates that the following round of offering is around the corner. The daily momentum indicator that has been showing a negative divergence has triggered a bearish crossover. Thus, the base metal is poised for a fall till 105.70-103.70 from a short-term perspective. A reversal can be placed at 111.30 on a closing basis. Copper rose on Wednesday, the fifth session of modest gains, after upbeat economic data from the United States and the euro zone, but gains were capped by signs that China's economy is stalling. Data from the world's biggest economy showed U.S. new home sales hit a five-year high in June and manufacturers increased output in July at the fastest rate in four months.
Copper off lows after China PMI, gold moves higher Copper futures were moving near one-and-a-half month highs today after at first declining on the back of powerless Chinese manufacturing data, while gold was additionally exchanging near six-week highs. On the Comex division of the NYMEX, copper for September futures exchanged at USD 3.207 a pound, throughout European morning hours, 0.26% higher for the day. Copper futures fell 1.24% to lows of USD 3.165 throughout the Asian session after DATA indicated that Chinese manufacturing movement drooped to a 11-month flat in July, adding to indications of a lull on the planet's second biggest economy. The preparatory perusing of China's HSBC assembling obtaining supervisors' list tumbled to 47.7 in July, from a last perusing of 48.2 last month. Experts had anticipated that the list will ascent to 48.6. A perusing beneath 50 demonstrates a withdrawal. Copper continued to be supported after China’s premiere said Tuesday that economic growth must remain above 7%. Last week’s China’s central bank said it was removing the lower limit on interest rates for banks, to help spur growth. Gold futures for August delivery traded at USD1,343.05 a troy ounce during European morning hours, 0.63% higher for the day. Comex gold rallied to a six-week high of USD1,347.85 a troy ounce on Tuesday, as a bout of technical buying kicked in after prices broke above a key resistance level.
Gold price universally are prone to climb as a weaker dollar can back costs. Then again, moderating request from India and proceeded surges from ETF's can keep costs in reach.
We anticipate that Crude oil costs will venture out in front of inventories information and US corporate profit without much fanfare.
Base metals are relied upon to go up on desires of additional changes by China in its duty to depend less on fares and ventures and depend progressively on utilization driven development. In any case, moguls might remain wary in front of China, US and Euro assembling PMI information tomorrow
MCX Tips and Call for Today:
MCX Copper Tips: Buy MCX Copper by maintain a stop loss for this trade at Rs 416 for a target of Rs 422.
Crude Oil Call: Sell MCX crude and keep a stop loss for this trade at Rs 6550 for a target of Rs 6390-6350.
MCX Gold Tips: Hold MCX gold with a stop loss of 27800. For More Please Fill Free Trial Form.
COMEX Gold Updates
After the close vertical fall in April, gold had taken back close to the enduring climbing trend line. It consolidated there for numerous weeks, which took manifestation of a triangular example. The example broke out on the downside and the value tumbled sharply. It accomplished the fairness focus on the downside and the value has begun moving higher. The every day force marker is indicating a positive disparity and has triggered a bullish hybrid. In this manner, the yellow metal is relied upon to climb work $1,380-$1,400. An inversion has been kept up at $1,207.50.
Silver has been falling in a channelised way since the most recent not many months. It has structured a channel inside a way. On the downside, the white metal split through different past lows and arrived at the more level end of both the channels. It has attained the medium-term fairness focus on the downside. The every day energy pointer is indicating a positive uniqueness and has triggered a bullish hybrid. Subsequently, unless the swing level of $18.64 breaks, the white metal is relied upon to show a plunge recuperation. The crux level on the upside is at $21.50.
MCX Gold Tips
The trend in gold futures for August delivery on India's Multi Commodity Exchange (MCX) is positive and the yellow metal is expected to continue with the trend for the day. For intra-day, resistance for the commodity is seen at 27400 level while support is at 26700 and 26500 levels. Traders may buy at lower levels. MCX gold for August delivery was seen trading up by 1.60% at Rs.27131 per 10 grams as of 02.24 PM IST on Monday. We suggest to Buy MCX Gold for intraday trading on lower levels.
The potential for Copper making progress is getting restricted while the trading band is expanding fundamentally. Last night, the differential between the highs and lows was Rs 10, which is truly high and demonstrates the level of instability this business has been confronting. Caution is hence prompted in Copper moves. The costs are required to get frail close Rs 419 for every kg, which is the introductory back zone for Copper. The offering can take it near Rs 414 for every kg.
Crude Oil Trend
MCX Crude is in a consolidate trading range as the incredulity for further pullback rally in costs look faint. The costs devised a workable plan to corner a few increases of Rs 53 for every barrel and settled at Rs 6295 for every barrel. Going advance the top of Rs 6350 and 6400 is close. The costs are required to succumb from those levels to move down. Intriguing to note, that open investment in the close month contract has demonstrated consistent decrease in most recent not many days. Indeed, the volumes have declined to 103563. The base for this agreement is at Rs 6210 for every barrel levels.
MCX Call For The Day: SELL MCX CRUDE AROUND 6350-6360, TARGET 6270 STOPLOSS AT 6410
17 July Evening Commodity tips for today | Live trading metal tips and MCX commodity updates and MCX chart
Gold moved on Wednesday yet stayed close to a three-week high, as the dollar picked up in front of distinctly anticipated congressional confirmation by US Federal Reserve Chairman Ben Bernanke later in the day. Bullion costs have exchanged a tight extend in the course of the final not many sessions as moguls held once again on huge wagers in front of the confirmation, which they trust will give a reasonable standpoint with respect to the Fed's USD 85-billion month to month bond buys.
The trend in crude oil futures for July delivery on MCX is looking in a range bound of 6100-6400 for this month. Today also it is trading at 6252 up by 10 points. For today crude oil has a strong resistance at 6300 level. Break out of any of the sides of the range is expected to give clear direction to the commodity prices.
Technical Levels For MCX Gold
MCX Gold has now modified support level at 26000 and 25700 for today on the other side if gold rally upto the 26700 level then it may get 27000 level today.
MCX Gold: Sell around 26550 levels with a stop loss placed above 26700 levels for targets of 26000.
MCX Copper: Sell around 416 levels for targets of 405 with a stop loss placed above 421.
MCX Natural Gas: Buy around 218 levels with a stop loss placed below 215 levels for targets of 225.
The trend in turmeric August futures conveyance on NCDEX is extent bound and 5800-6050 is the possible go for the commodity. Then again, the Commodity may witness short covering at current levels. Break out of any of the sides of the reach 5800-6050 is expected to give clear trend to the ware costs. NCDEX turmeric for August conveyance was seen exchanging around 0.8% at Rs.5984 for every 100 kgs starting 10.59 AM IST on Tuesday. Turmeric spot costs neglected to record an up-tick on Monday because of quelled request. Turmeric arrivals in Erode and Nizamabad spot markets were around 2500 packs (1bag=70kgs) and 2000 sacks, separately.
MCX Gold: MCX Gold Aug futures trend seems weak on technical chart intraday traders can sell MCX Gold on rise. A strong support range is seen in range of 26300-25900. On upside resistance range is seen at 26600-27200. We advised to Sell MCX Gold on Higher levels.
MCX Silver: As the Bullions are looking weak today, MCX Silver Sep. futures is also looking bearish, Intraday traders can sell on dips Major support is seen in range of 40800-39800. While resistance is seen near 41500-42300. We suggest to sell Silver on High as today's Commodity Tips.
Indian gold imports fall 80 percent in June’13. Aggressive and stringent measures applied by the RBI and the government led to a sharp fall in gold imports. For the month of June’13, gold imports fell sharply by 80 percent to just 32 tonnes as against 162 tonnes seen in May’13. When compared to imports in June’12, the decline was 36 percent. Fall in gold imports will help to curb the CAD and in effect also have a positive impact on the Rupee. Gold is India’s second-largest import after crude oil and for the month of April’13, gold’s import bill touched $7.5 billion. During April-May’13, gold and silver imports accounted for $15.8 billion in the import bill. Combined Indian gold-silver imports in June’13 were $2.5 billion
Weekly Price Performance: Last week, Spot Silver prices increased sharply by 5.6 percent and crossed the crucial $20/oz mark. A bullish trend is expected in silver prices over the week, due to increase in goldprices. Further, upside in base metals complex along with weakness in the DX will support an upside in prices. In the Indian markets, depreciation in the Rupee will act as a positive factor for prices on the MCX In ETF Performance, Holdings in the iShares Silver Trust increased around 1.3 percent in the previous week to 10,185 tonnes as on 12th July 2013.
MCX GOLD SUPPORT & RESISTANCE FOR TODAY Major support in MCX Gold is 25777 and 25574 Major resistance in MCX Gold is 26301 and 26535
MCX Strategy for Today's Commodity Trading
For today traders can use sell on higher level strategy if Silver sustains below the level of 39300, and below 38160 it can further correct. Trade by keeping the proper stop losses.
Crude oil is bullish for today So traders can use buy on lower level strategy if MCX Crude sustain above the level of 6113 by keeping the proper stop loss.
For today 412 and 416 will act as major resistance and 404 and 400 will act as major supports. Its likely to say on which side copper will trend today due to its consolidate trend. We suggest to intraday traders to Sell Copper on higher levels today.
MCX India DATA
- Gold climbs to 1-week high on china inflation; fed minutes in focus.
- Copper dips as china inflation reinforces growth worries.
- Crude oil edges lower after imf cuts global growth forecast.
- Brazil bumps up record corn, soybean forecasts.
Rising costs and the drop in gold prices in first quarter have already put some gold miners in the uncomfortable position of having to consider hedging production. When prices dipped to the $1,320s area, it started to come close the marginal cost of production plus sustaining capital expenditures, called all-in costs. Estimates of those costs range between $1,200 and $1,300. So on average, how much did it cost in total to dig up an ounce of gold? The answer is it depends on companies mining in different region of the world. Mining in Canada is much more cost efficient than mining in South America.
MCX Goldguinea Trend
MCX GOLDGUINEA July contract is trading with a gain of 0.47% at Rs 20951 up by Rs 97. It has got the intraday high of 20999 in early session of today's trading. Till now 3437 contracts have been traded. GOLDGUINEA prices have moved down Rs 530, or 2.47 percent in the July series so far.
MCX GOLDGUINEA August contract was trading at Rs 21031 up Rs 83, or 0.40 percent. The GOLDGUINEA rate touched an intraday high of Rs 21080 and an intraday low of Rs 20981. So far 541 contracts have been traded. GOLDGUINEA prices have moved down Rs 675, or 3.11 percent in the August series so far.
MCX India : Commodity Market Report | Weekly Commodity Updates and Gold Silver Trend | 8 July MCX Intraday Target
Bullion futures on the worldwide market are required to witness a further succumb to the advancing week, as arrival of playful US non-farm payrolls data has raised fear up in the market that the Federal Reserve may move back its merchandise strong security purchasing program soon. Prior, US Fed Chairman Ben Bernanke had said the Fed may decrease bond purchasing program later in the not so distant future, if the US economy presses on to show change. Friday, the US Labor Department reported an expansion of 195,000 occupations in June, superior to market want. Moreover, dollar picked up sharply after the arrival of employments information and is relied upon to ascent further. Immovability in the dollar might put extra descending force on bullion fates one week from now. A firm greenback makes purchasing of dollar-named products more unmanageable for other cash holders
Base metal futures are seen trading down one week from now, as arrival of upbeat US non-farm payrolls data has brought fear up in the market that the Federal Reserve may decrease its security buy program soon. Climb in the dollar record in the wake of supporting US information is likewise anticipated that will manufacture descending force on base metals. Copper prospects enlarged their prior misfortunes on Friday, falling by more than 2% after an improved than needed perusing on the U.s. work market. Copper is touchy to movements in the investment viewpoint due to its far reaching use in numerous businesses. A stronger U.s. economy could goad the Federal Reserve to check its stimulus. The focal bank's income sans work arrangements have backed costs of copper and different wares. The U.s. economy included 195,000 occupations in June, the Labor Department said on Friday, more than the 160,000 increase economists had envisioned. Copper fates had exchanged at about $3.10 a pound in front of the report. Costs drooped at an opportune time Friday, making up for lost time with Thursday's misfortunes in other copper markets. COMEX floor exchanging was shut on Thursday for Independence Day.
Gold Silver Levels
Gold has turned positive as holding above 25700, immediate resistance is seen near 26300 , 26700 and 27136. If market hold and close below 25700 on daily basis then bearishness will be back in market. Next support is around 25300 and 24700 ranges. Traders can consider buy on dips around 26000-25900.
MCX Silver is looking in a consolidate mode today, In last session it was closed above 40000 mark satteled at 40290. Looking in buying mode now having a strong support at 39600 level it has a resistance level at 41000 level today. Buy* on low suggested for today
*(Buy Silver only above 40400 level Today)
Us Crude Oil climbs on decrease in stock-heaps, Middle East pressures. WTI Crude futures climbed above $101 for every barrel on Thursday after Us crude oil stock-heaps recorded a higher than needed decrease. crude oil costs in the worldwide market likewise upheld by enduring political strains in the Middle East. US crude oil futures for August conveyance on NYMEX was seen exchanging up by 1.81% at $101.41 for every barrel starting 10.25 Am Ist on Thursday.brent crude for August conveyance on NYMEX was seen exchanging around 0.17% at $105.55 for every barrel starting 10.24 Am Ist on Thursday. US Market crude oil inventories (prohibiting those in the Strategic Petroleum Reserve) diminished by 10.3 mn barrels as on 28 June from the past week.
Commodity Tips Today
- MCX Gold trend suggest that prices have breached the crucial resistance of 26000 levels. RSI is in a sell mode. We expect prices to go up to levels of 26100 today. Expert say that Sell MCX Gold on Higher levels.
- Silver current trend suggest that prices have breached the crucial resistance of 40700 levels today. Now its time to move back with a sell position, Silver trend is in Sell mode. We expect prices to go up to levels of 40000 today
- Crude Oil Trend suggest it will show its strength in evening session today, However it is down by 20 points and trading at 6019. We suggest to Buy Crude oil on Dips Today
Crude oil has recovered strongly. MCX crude oil has gone beyond Rs 6,100. Indeed, even today, crude oil in the international market has grown rapidly. Weakness in the rupee has got support from domestic crude oil. The deepening political crisis in Egypt NYMEX of crude oil has reached the upper end of 14 months. The MCX crude oil is trading at Rs 6105 with 3 per cent, While natural gas has risen 0.5 per cent higher at Rs 220.
Rupee weakness in the domestic market help gold to cure up about 0.5 per cent in today's trading. In the international market Gold has been extremely sluggish today, while MCX silver has gone up by 1 percentage. Notably in the U.S. non-farm payroll data this week is expected. MCX Gold is currently trading at Rs 26184 and silver is trading at Rs 40505.
Weak rupee has recovered strongly in the base metal, while Antrrrashtryy market is idling. With 1.5 per cent on MCX Copper is trading above Rs 423. Aluminum 1 per cent, 0.8 per cent nickel, 0.9 per cent lead and zinc gained 0.75 per cent. The ECB is meeting on Thursday on the London Metal Exchange is idling. MCX due to weakness in the rupee on edge all the metals are traded.
MCX Calls For Today
- MCX Gold (August Futures): Buy - 26190, stoploss - 26100 and the target - 26350
- MCX Silver (Sept Futures): Buy - 40700, stoploss - 40400 and Target - 41100
- MCX Crude oil (July Futures): Buy - 6130, stoploss - 6090 and target - 6200
- MCX Copper (August Futures): Buy - 422, stoploss - 419 and Goals - 426.5
In the wake of breaking down from the sideways consolidation, gold saw a sharp decrease a week ago. The decrease was a clean five-wave decrease. After a five-wave decay, we ordinarily get a entrancement of the five-wave decrease according to the Elliott wave rule. The every day force pointer indicated an oversold perusing, which shows a close term ricochet is around the corner. In the final exchanging session, it broke out of the descending slanting channel.
We anticipate that gold will exchange with a positive inclination going ahead for focuses of $1,331, which is the 61.8% of the fall, and $1366, which is the 40-day exponential moving normal. The pivotal backing is set at $1,180, which is the level it touched in the final exchanging session.
Spot gold recovered after a monstrous drop in a week ago drawing in deal purchasers however an in number dollar and any desires for unanticipated decreasing of quantitative moving by the Us Federal Reserve made the metal more susceptible to further pushing. Costs are creeping up for the third straight sessions, upheld by Chinese physical purchasing and specialized skip back. An improved than needed Us monetary discharges in the later time opened space for the Us Federal Reserve to maneuver down overall monetary stimulus.
Gold For Today
Current Gold trend suggest that prices have breached the crucial resistance of 26000 levels. RSI is in a buy mode. We expect prices to go up to levels of 26500.
Copper Levels For Today
Current trend for Copper suggest that prices have got the crucial resistance of 413 levels. RSI is in a buy mode. We expect prices to go up to levels of 421.
MCX Tips Today
Buy MCX gold around 26100 levels with a stop loss placed below 25900 levels for targets of 26500
Buy Crude oil around 5840 levels with a stop loss placed below 5790 levels for targets of 5960
Buy MCX Copper around 416 levels with a stop loss placed below 413 levels for targets of 421.
On Domestic market Gold has shown its strength on Monday. Gold futures pushed higher for a last session on Monday, proceeding a bounce back from close to three-year lows as some saw the metal's droop as a great purchasing chance. The most actively exchanged contract, for August was as of late up $12.70, or 1%, at $1,236.40 a troy ounce on the COMEX division of the New York Mercantile Exchange
MCX Gold Tips
The current trend for MCX gold futures is looking weak on technical charts even after last bullish session. Traders are sell their current position. We think that gold may see a down side again. Intraday traders can sell MCX gold for today. MCX Gold has strong resistance level at 26150, 26385 and 26560. While support levels are looking in range of 25820-25620-25450. MCX Gold Tips: For today we suggest to sell MCX Gold on 26150 for the target of 25800 level with SL above 26280.
MCX Silver Tips
Mcx Silver Sep. futures contract is looking frail on outline, day traders can Sell Silver on higher levels. Major Support is seen in extent of 40700, 40200 and 39600 levels. While significant support is seen near to 41700, 42400 and 43100 levels. MCX Silver Tips: Day traders can Sell Silver on 41700 level for Target of 40700 and 40200 with stop loss at 42400