Both the precious metals, silver and gold advanced in the bullion market today on emergence of buying by stockists and retail customers amid a firming trend in global markets.
Gold -
Prices were higher on Friday and lower on the week. The most-active June gold contract on the Comex division of the New York Mercantile Exchange rose Friday, settling at $1,571.20 an ounce, but down 1.20% on the week. July silver rose Friday, settling at $23.465 an ounce, but down 0.971% on the week.
Base Metal -
The metals consolidated at higher numbers yesterday as the broad based selling across the markets from Wednesday abated. However, given dismal European and disappointing Chinese flash manufacturing PMI data, we feel the rally is likely to be just a counter trend move. The base metals ended the day up an average of 0.6 percent yesterday, the move was skewed by a 1.5 percent rise in tin. Copper closed up 0.2 percent at $7,559. Precious metals also rebounded were up an average of 0.7 percent.
There is little news out overnight and as a result markets have not moved much – the base metals are up by an average of 0.2 percent, but individual performances have been mixed with copper up 0.5 percent at $7,610, alumin-ium, nickel and zinc are up between 0.1 and 0.4 percent, while lead is down 0.1 percent and tin is off 0.3 percent.
The precious metals are mixed - gold and silver are off slightly at $1,558 and $28.17, while the PGMs are firmer at $1,418 and $594.
In Shanghai the August contracts are up an average of 0.3 percent, copper is up 0.4 percent at Rmb 55420, alu-minium is up 0.2 percent Rmb 15,994, zinc is 0.2 percent higher at Rmb 14,734 and lead is up 0.3 percent at Rmb 15,151.
Crude Oil -
Iran has been feeling increased pressure from US and EU sanctions against its oil industry, and as a result has on more than one occasion threatened to blockade the Straits of Hormuz, the busiest oil shipping channel in the world; a move that could severely disrupt global oil supplies and affect oil prices.
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Monday, May 28, 2012
Friday, May 25, 2012
Free Tips on Commodity
Gold need in Indian, one of the top customers, stayed reserved on Thursday as local prices increased monitoring a restoration in offshore marketplaces and as the rupee hit a new all-time low against the dollar.
The most-active gold for June delivery on the MCX was up 0.12% at Rs 29,004 .
The rupee, which plays an important role in determining the landed cost of the dollar-quoted yellow metal, hit a record low against dollar for the seventh straight session on Thursday.
Global gold recovered to USD 1,559 an ounce on Thursday, from USD 1,531 in the previous session, but remained on shaky ground as worries about Greece and the euro zone continued to dominate market sentiment.
The wedding period is coming to an end in Indian, while the celebration period has finished. Silver need is usually poor during monsoon several weeks in the south Asian country and choices up in Sept.
Gold demand in India is likely to moderate in 2012 as higher inflation trims disposable income at a time prices are stubbornly high on a weak rupee, the head of the World Gold Council in the.
MCX GOLD :
International: Major Support at USD1510. Bullish till USD1570.
Domestic: Buy above 29070, Stop loss 28970, Target 29140.
MCX SILVER :
International: Major Support at USD25. Bullish above USD27.
Domestic: Buy above 54100, Stop loss 53800, Target 54400.
MCX COPPER :
International: Major Resisatnce at LME 9500. Bullish till LME 8400.
Domestic: Buy above 425, Stop loss 423, Target 431.
The most-active gold for June delivery on the MCX was up 0.12% at Rs 29,004 .
The rupee, which plays an important role in determining the landed cost of the dollar-quoted yellow metal, hit a record low against dollar for the seventh straight session on Thursday.
Global gold recovered to USD 1,559 an ounce on Thursday, from USD 1,531 in the previous session, but remained on shaky ground as worries about Greece and the euro zone continued to dominate market sentiment.
The wedding period is coming to an end in Indian, while the celebration period has finished. Silver need is usually poor during monsoon several weeks in the south Asian country and choices up in Sept.
Gold demand in India is likely to moderate in 2012 as higher inflation trims disposable income at a time prices are stubbornly high on a weak rupee, the head of the World Gold Council in the.
MCX GOLD :
International: Major Support at USD1510. Bullish till USD1570.
Domestic: Buy above 29070, Stop loss 28970, Target 29140.
MCX SILVER :
International: Major Support at USD25. Bullish above USD27.
Domestic: Buy above 54100, Stop loss 53800, Target 54400.
MCX COPPER :
International: Major Resisatnce at LME 9500. Bullish till LME 8400.
Domestic: Buy above 425, Stop loss 423, Target 431.
Wednesday, May 23, 2012
“Gold may find support on dollar weakness”
According to the our research firm, with upbeat global market sentiments and dollar weakness, gold is expected to receive support.
Gold: experienced a combined activity in last night trade and gradually shut in the red. Costs on the Comex June agreement lowered 0.1 percent to $1587/oz despite money weak point and increased risk hunger. Movement in Gold on Monday shows that traders stay careful over leads of distinct increase in prices in the near-term. With prices ending below the $1610/oz level despite distinct decrease in the money is an indicator of a bearish pattern in silver. Holdings in the SPDR Gold Trust, the biggest gold-backed exchange-traded finance, stay the same at 1,281.91 lots on Twenty-first May 2012.
Silver: On Monday, silver costs came under pressure and spot Silver dropped around 1 %. The white steel did not take hints from positive risk emotions and followed activity in gold. With long-term concern staying complete, benefit in costs was to cap it. Spot silver costs dropped around 1 % and closes at $27.30/oz after in contact with an intra-day low of $27.01/oz in yesterday’s trading time. On the home front costs dropped by 0.6 % as depreciation in indian Rupee cushioning further fall in costs and clossed at Rs.54,140/kg on Monday.
Outlook: With high energy international market emotions and dollar weakness, gold is predicted to obtain assistance, but we do not anticipate distinct increase in prices on account of long-term concern associated with the Western disaster. Gold too is predicted to business with a positive tendency but distinct profits are not seen.
Gold: experienced a combined activity in last night trade and gradually shut in the red. Costs on the Comex June agreement lowered 0.1 percent to $1587/oz despite money weak point and increased risk hunger. Movement in Gold on Monday shows that traders stay careful over leads of distinct increase in prices in the near-term. With prices ending below the $1610/oz level despite distinct decrease in the money is an indicator of a bearish pattern in silver. Holdings in the SPDR Gold Trust, the biggest gold-backed exchange-traded finance, stay the same at 1,281.91 lots on Twenty-first May 2012.
Silver: On Monday, silver costs came under pressure and spot Silver dropped around 1 %. The white steel did not take hints from positive risk emotions and followed activity in gold. With long-term concern staying complete, benefit in costs was to cap it. Spot silver costs dropped around 1 % and closes at $27.30/oz after in contact with an intra-day low of $27.01/oz in yesterday’s trading time. On the home front costs dropped by 0.6 % as depreciation in indian Rupee cushioning further fall in costs and clossed at Rs.54,140/kg on Monday.
Outlook: With high energy international market emotions and dollar weakness, gold is predicted to obtain assistance, but we do not anticipate distinct increase in prices on account of long-term concern associated with the Western disaster. Gold too is predicted to business with a positive tendency but distinct profits are not seen.
Monday, May 21, 2012
Todays Intraday Commodity Trading Tips
GOLD - JUNE -
As the other day it was described that below 28700, free drop and it did it and created a low of 27755. But due to oversold situation and secure paradise financial commitment, powerful jump and above 28240 powerful recovery was seen that led to it making a high of 28989.
SILVER – JULY -
In this column, we have published that as long as below 58100, disadvantage focus on 54700 and once separate this level, significant drop cannot be decided out, and may analyze 51100-50010 thereafter more disadvantage। But due to oversold and big drop in currency markets, bright steel again surfaced secure paradise and powerful purchasing and brief protecting was seen and almost examined again a past assistance now level of resistance 54700 .
COPPER – JUNE -
Copper was in promoting function once it smashed the significant assistance stage of 431. In this weeks time we may consider level of resistance 422 - business and continual above short-term pattern and likely to analyze 427-431, disadvantage once separate and business below non-stop focus on 404. Both side enjoying chance in this investment but do not try to business with trading level.
CRUDE - MAY -
The other day, we have seen very uneven but incapable to combination their significant level of resistance location 5140-5100 and made a low 5040 and almost shut per weeks time low. In this weeks time, consider level of resistance 5094-5130-5150, efficiently cross-over this range will the time of business change, on the disadvantage consider support 5200-4977, thereafter significant disadvantage start cannot be decided out. Carefully watch at lower level.
NICKEL – MAY -
This investment carries on trading in bearish location. The other day it created a high 942 and experiencing ongoing remarkable level of resistance 951 and finally created a low 912. In this weeks time, consider level of resistance 924-931 and support 911-900 variety, if break this variety and stay with amount overall selling in the market.
As the other day it was described that below 28700, free drop and it did it and created a low of 27755. But due to oversold situation and secure paradise financial commitment, powerful jump and above 28240 powerful recovery was seen that led to it making a high of 28989.
SILVER – JULY -
In this column, we have published that as long as below 58100, disadvantage focus on 54700 and once separate this level, significant drop cannot be decided out, and may analyze 51100-50010 thereafter more disadvantage। But due to oversold and big drop in currency markets, bright steel again surfaced secure paradise and powerful purchasing and brief protecting was seen and almost examined again a past assistance now level of resistance 54700 .
COPPER – JUNE -
Copper was in promoting function once it smashed the significant assistance stage of 431. In this weeks time we may consider level of resistance 422 - business and continual above short-term pattern and likely to analyze 427-431, disadvantage once separate and business below non-stop focus on 404. Both side enjoying chance in this investment but do not try to business with trading level.
CRUDE - MAY -
The other day, we have seen very uneven but incapable to combination their significant level of resistance location 5140-5100 and made a low 5040 and almost shut per weeks time low. In this weeks time, consider level of resistance 5094-5130-5150, efficiently cross-over this range will the time of business change, on the disadvantage consider support 5200-4977, thereafter significant disadvantage start cannot be decided out. Carefully watch at lower level.
NICKEL – MAY -
This investment carries on trading in bearish location. The other day it created a high 942 and experiencing ongoing remarkable level of resistance 951 and finally created a low 912. In this weeks time, consider level of resistance 924-931 and support 911-900 variety, if break this variety and stay with amount overall selling in the market.
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