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Commodity Updates For Today: 22nd Sept
Gold correct from the three-week high on Monday on stronger dollar dampened a rally fueled by the Federal Reserve's decision.
SPDR Gold Trust GLD, the world's largest gold-backed exchange-traded fund, said its holdings stood at 674.61 down 3.57 tonnes from previous business day.
Base metals recovered from two week lows on Monday on rising Chinese imports rose, however on stronger dollar gains are limited. Daily average primary aluminium output excluding China rose to 68,600 tonnes in August.
Crude oil traded marginally higher as U.S. rig count fell by 8 to 644 rigs as of September 18. crude oil might turned down on stronger dollar and higher output.
Copper traded on mixed note as supply disruptions in Chile and the US interest rate decision continued to boost the price of the industrial metal and on Monday dollar index turned higher. Traders can hold their short position. Resistance of copper now seen at 354.10.
Commodity Trend: Bullion are On Positive Side Today
European equities are trading higher on the back of Federal Reserve’s decision to maintain the pace of QE until the economic conditions stabilizes. Asian markets also traded on a positive note and US futures are also trading in the green. UK Retail sales declined by 0.9 percent in August as compared to a gain of 1.1 percent in July. Confederation of British Industry (CBI) Industrial Order Expectations increased to 9-mark in the current month.
Indian Rupee appreciated by more than 2 percent as a result of Federal Reserve stance of maintaining easy monetary policy. Further, weakness in the DX supported an upside in the currency. The Rupee touched an intra-day high of 61.645 today till 4:30 pm IST. Spot Gold traded on a flat note and rose on the back of weakness in the Dollar Index (DX) and upbeat global market sentiments. The yellow metal hovered around $1365/oz till 4:30 pm IST. In the Indian
markets, gold prices gained around 1.2 percent.
Spot silver traded on a flat note taking cues from upside in base metals prices. Weakness in the DX and upbeat global market sentiments also supported gains. The precious metal touched an intra-day high of $23.18/oz till 4:30 pm IST. The near month silver contract gained around 3 percent on the MCX. Base metals pack on the LME traded on a positive note due to upbeat global market sentiments. Weakness in the DX, which was due to Fed’s decision of keeping the pace of QE constant until the jobs market improve, supported gains in the base metals prices.
LME Copper prices rose around 1.8 percent taking cues from Fed’s decision of easy monetary policy and upbeat global market sentiments. Decline in inventories by 0.6 percent to 568,575 tonnes added to the upside in prices. The red metal touched an intraday high of $7345/tonne till 4:30 pm IST. The MCX Copper prices declined by more than 1 percent due to Rupee appreciation.
Tag :
Commodity Updates,
MCX Trend
Evening Bullion Updates and Live MCX Tips For 13th Aug '13
Bullion Updates
Bullion metals recouped to its most elevated in practically two weeks on delicate U.s. data and as possessions on the biggest gold trade exchanged store climbed without precedent in two months. Property in SPDR Gold Trust developed 0.2 percent to 911.13 tonnes on Friday -the first expansion since June 10. However, strength in the DX prevented sharp upside movement in prices. Appreciation in the Indian Rupee prevented sharp upside in prices on the MCX.
The fund has seen in excess of 14 million ounces in surges in the not so distant future, about $19 billion at current costs. Surges from Etfs have had a huge sway on gold, which has lost around the range of 20 percent of its worth in 2013. Moguls have been leaving gold energetic about higher-yielding stocks as the metal's safehaven request has been imprinted by a recouping U.s. economy.
Live MCX Tips
Sell MCX Gold around 29000 with a stop loss placed above 29200 for targets of 28500 Intraday
Buy MCX Silver at 46100 For Positional (2-3 Days) Target of 48200 with a stop loss placed below 45300.
Silver Trend and Evening Intraday MCX Strategy for Today with Gold Updates
Gold Updates
After the close vertical fall in April, gold had taken back close to the enduring climbing trendline. It merged there for a few weeks, which took manifestation of a triangular trend. The trend broke out on the downside and the cost tumbled sharply. It accomplished the balance focus on the downside and the value has begun moving higher. On the upside, the yellow metal is relied upon to climb till $1,394-1,410. The inversion could be tightened to $1,268. On Domestic market Gold is trading bullish on MCX. However MCX gold has a strong resistance level at 28600 today, it it brock this level then it will stay in bullish frame for rest of this month else below 28000 level today it will turn to consolidate trend. Silver Trend
Silver has been falling in a channelised way since the most recent not many months. It has framed a channel inside a channel. On the downside, the white metal split through various past lows and arrived at the more level end of both the channels. It has realized the medium-term balance focus on the downside. Since then silver is in a recuperation mode. It has framed a heading cornerwise on the upside, and has done a minor-degree adjustment and has begun crisp climb. The every day energy marker is additionally heading towards the north as well as the cost. The key level on the upside is at $21.80. The inversion could be trailed to $19.13. Silver is up by more then 1200 points on intraday trading. Looking more bullish above 44300 level. Buy on Lower level for intraday strategy.Intraday Stregies For Today
Buy MCX Gold on lower level, Silver is also looking bullish Buy MCX silver above 44100 level today.Commodity Trend Today: LIVE MARKET TIPS
International market updates suggest that there has seen weakness in gold and silver. COMEX Gold is trading with a loss of 0.25 percent. Although prices are above 1,383 dollars per ounce. Weakness in silver with 0.5 percent and its trading around $ 21 per ounce.
The move also appears dull crude oil, Brent crude slipped marginally to around $ 104 per barrel is intact. Crude oil traded flat on the NYMEX being seen. Although prices are above $ 95 per barrel.
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Commodity Updates: LIVE MARKET TIPS
Commodity Updates:
- GOLD SLIDES AFTER U.S. PAYROLLS DATA BEATS FORECASTS.
- COPPER HIT BY DEMAND WORRIES.
- CRUDE OIL FUTURES EDGE HIGHER AHEAD OF U.S. JOBS REPORT.
- REFINED SOY OIL STEADY IN SPOT.
LIVE MARKET TIPS is technical research based advisory firm, we offer mcx tips, ncdex tips, commodity tips, stock tips, agri tips ,equity tips, intraday tips, mcx-ncdex tips, forex tips, comex tips, bullion tips, share market, base metal tips, precious metal tips with proper risk reward ratio. We provides all financial services under one roof with 95% accuracy. Get 2 days free trial on Share tips, nifty tips, Cash market tips, future tips, option tips, stock tips free trial,intraday stock tips with upto 95% accuracy. http://www.live-market-tips.com
Tag :
Commodity Updates,
MCX Trend
