Commodity Market Representation of today’s Evening

 MCX commodity market have no such momentum in the evening but Commodities are trading in profit now, while silver is going with fluctuation and in future market, silver is lost three points currently. MCX gold is trading with 42 points profit at 31938 Rs. / 10 gm. MCX Silver gain 70 points and trading in 63950 Rs./ kg in commodity market. Currently MCX Gold and Silver are gaining points. Other commodities are not showing well, while Gold price had reached a new height MCX October Gold futures touched a record level of Rs 32,026 in the morning. The silver gained 0.5 per cent to Rs. 64,280 is currently being and sense. But now Gold and Silver are lost their position due to slight decline in the international market in gold, while silver has seen marginally faster.

On the other hand, Aluminium, Copper, Lead, Nickel and Zinc are remaining same as they gain profit but not so much. Aluminium is trading in Rs 112.9 with 1.7 points. Copper and Nickel are trading in Rs. 454.15 and 925 with profit 6.55 and 15 rupees respectively. Lead and Zinc are also trading with up-trend while Crude oil is going down currently and have profit of only three rupees.

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commodity news

Gold prices rose by 0.10 per cent to Rs 29,187 per 10 gm in futures trade today, For the first six months of 2012, gold futures trading volumes rose to 23.74 mn contracts showing a growth of 2.5%.

Gold sell below 29220 sl at 29275 tgt 29198,29156  

In June 2012, Comex Silver futures have fallen more than 19% on a year-on-year basis to 1.416 mn contracts while gold futures trading volume rose 14% to 3.479 mn. Today Silver prices touched intra-day high of $27.62/oz and are trading around $27.44/oz . In the Indian markets prices increased by 0.5 percent

 silver sell below 52869 sl above 53039 tgt 52780,52655  sell in range

Oil rose above $90 a barrel in Asia for the first time since May .

Crude oil

CRUDE OIL SELL ONLY BELOW 5002 SL ABOVE 5041 TGT 4984,4955

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GOLD SILVER UPDATE

Silver is a very ductile and malleable metal used for thousands of years for ornaments and utensils, for trade, and as the basis for many monetary systems. Its value as a precious metal was long considered second only to gold it was often more valuable than gold. Silver moved higher in yesterday session as euro surged against dollar but it's fall again today. BUY SILVER SEP ABOVE 52950 TARGETS 53015, 53100 , 53200 STOPLOSS 52823.now silver mcx is 53010 it’s percentage of changes is 271. 

Gold trading range for the day is 29104-29418. Technically market is trading in the range as RSI for 18 days is currently indicating 41.93, where as 50 DMA is at 29681.28 and Gold is trading below the same and getting support at 29192 and below could see a test of 29104 level, And resistance is likely to be seen at 29349, a move above could see prices testing 29418.

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Gold Silver Update and Trading Tips

Gold Silver Update 31 May, Silver Tips, MCX Gold Tips, Commodity Tips, Today Free Commodity Tips

Today is last day of the month, yet MCX market has showing totally bearish position today. Gold dramatic a mid –session turn- around in grave trade on Wednesday, rebounding more than 30 dollar an ounce as deepening sell- off riskier assets rekindled safe – haven command and technical bids kicked in at a key support level.

 The decline of gold and silver in comex also impact is local market today. With the marginal decline on MCX gold is trading at Rs 29094, while the silver is about 0.34 percent fall to Rs 54289 in current rate.
Traders advises:- Buy Silver Above 54250 July Contract.
Targets- 54273, 50297.

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