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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commodity news update,MCX gold copper market update

GOLD AND COPPER NEWS UPDATE

 At India’s Multi Commodity Exchange, Gold futures are likely to trade in range with mixed bias. Stronger local currency rupee can cap the upside of bullions on domestic bourses.

  Gold edged down 0.2 per cent to $1,587.19 an ounce by 0325 GMT, after rallying 1 per cent on Friday. Today Gold's bounce from contracting range lows points to near term upside potential, which we think should be sold into. Risks remain for a retest of the larger range lows at 1525/26 before looking for signs of a base. Resistance: 1620, 1595 Support: 1565, 1550.

Gold 29,206.00(0.21%) as On Jul 16, 2012 at 12:00 AM

Unit                        GRMS      Close Price (`)         29,268.00

High Price (`)      29,249.00     Low Price (`)           29,180.00

Day Open (`)      29,230.00    Open Interest (`)       16,215.00

Buy Price (`)       29,203.00   Sell Price (`)               29,205.00

Volume               6,170.0        Value (`)                   18,02,76,25,000.00

 Copper to rise in second half of 2012, decline in 2013 Copper prices to strengthen in the second half of this year but decline in 2013 as the market starts to shift to a supply surplus.

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MCX NCDEX updates, Commodity news, and Trading price today

High Export price, weak Rupee and patchy Mansoon increase prices of essential commodities. Analyst predict that price of essential commodities have gone up 10-15% increase this week. We expected that price should be stable in this month and then increase again from September.

The NCDEX Agro index shows some hike today. Top gainers at NCDEX agro are-

Maize - Feed/Industrial Grade – Aug   LTP: 1462Rs Change:  4.1%,

Maize - Feed/Industrial Grade – Oct   LTP: 1461Rs Change: 4.1%,

 Maize - Feed/Industrial Grade – Nov LTP:  1409Rs Change: 4.1%,

Turmeric – Sep LTP: 5200Rs Change:  4%,

 Turmeric – Aug LTP: 5088Rs change:  4%.     

Top losers are:

Chilli – Jul   LTP: 5110Rs Change: -0.4%,

Chilli – Sep   LTP: 5376Rs Change: -0.4%,

Chilli – Aug   LTP: 5282Rs Change:-0.2%,

Chana – Jul   LTP: 4536Rs Change: -0.2%.

MCX Bullions and MCX Base Metals Prices have gone up today. Gold declines Rs 55 per 10 grams in domestic market while Silver gain Rs500.   

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