Silver prices fell by Rs 450
Global recession impacted the domestic bullion market gold where the live price of gold resist to 30,600 per ten grams.However, silver fell by Rs 450 per kg and arrived at Rs 54 650. In the internatuional market the gold declined and reached below $1,600 per ounce.According to reports received from London, the global trade of gold is in bearish mode.
During the gold trading the live price of gold was $1599.19 per ounce recorded. Experts say that monetary policy did not change in America. Due to it economy is not getting any speed.The investors have abandoned the market. Greece, dominates the market crisis. Spain’s banking crisis is a period of speculation in financial markets.
There is slow turnover in precious metals in the local bullion market.Gold price stuck to 30,600 per ten grams in the last business day trading.According to traders there is no movement in the market. Silver prices are affected by trends in foreign markets.
Slow moves in crude oil before the meeting of OPEC has affected the market. Business in International and domestic market is very slow. MCX gold between fluctuations has dropped below critical level of 30,000 on Wednesday’s trade.While silver remains above Rs 55,000.MCX is seeing an increase in the base metals. With 0.5 per cent increase MCX Copper is trading at Rs 412.70.
Factors which May affect the Trading in MCX & NCDEX on 14 June are as follows:
- Elections are due this week in Greece
- IEA’s has indicated a increment in supply of crude oil during the next 6 months.
Here are the technical support and resistance level for the mcx and ncdex future commodities gold silver copper lead zinc natural gas etc. for trading on 14 June 2012.
MCX gold (August futures): Buy – 29900, stoploss of Rs – 29800 and target – 30150
MCX Silver (July futures): Buy – 54 900, stoploss of Rs – 54 650 and the target – 55 400
MCX Copper (June futures): Buy – 411, stoploss of Rs – 408 goal – 417
MCX intraday Tips for 14 June 2012
MCX Gold is Sell call around 30050 levels with a stop loss placed above 30150 levels for targets of 29700.
MCX Silver Buy around 55100 levels with a stop loss placed below 54800 levels for targets of 55500
MCX Natural Gas Sell around 125 levels with a stop loss placed above 129 levels for targets of 119 levels.
MCX Copper Sell around 414 levels with a stop loss placed above 417 levels for targets of 409 levels
MCX Lead Sell around 106 levels with a stop loss placed above 106.80 levels for targets of 105 levels.
MCX NCDEX Trading and Investment Tips and Strategies for Thursday 07 June 2012
The prices of gold in the international market has touched a high of around 15 US dollars. In India the live/current price of gold is ion record level of 30,300. The silver also crossed the level of 55,000 today.
MCX Gold – Sell below 30200, Stop loss 30280, Target 30130
MCX Silver Sell below 55580, Stop loss 55800, Target 55300
MCX Copper Sell below 411.50, Stop loss 413.50, Target 409.50.
MCX Lead Sell below 106.50, Stop loss 107, Target 106.
MCX Zinc Sell below 105, Stop loss 105.50, Target 104.50
MCX Natural Gas Buy above 136, Stop loss 134.50, Target 137.50
MCX Nickel Sell below 901, Stop loss 907, Target 895.