MCX Gold And MCX Silver Trading Levels

Broad weak bias prevails in MCX Silver while prices stay below 52500. Intraday  moves likely to test the immediate downside obstacle of 49000 but once it cleared likely to continue the selling momentum towards 47000/45000 or even more. However, a turn higher from 49000 if materialize could stretch the momentum and could signal pullback
rallies till 52000 later

In Gold Commodity, The current long liquidation spree to be continued only by a voluminous break below the region of 26530 which leads price pointing towards 26340/25990. If not, by holding the 26530 region for a bounce back towards 26750/830 or even higher.

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MCX Gold and Silver Updates: Trading strategy For Today

On MCX Gold prices, as expected, took a dip and then bounced back. We can see prices go up to 28800-850 if it trades above 28750 in a consistent way. In Broad term perspective Gold is looking persistent and will be in bullish trend unless 28400 is breached on downside.

Silver may trade in sideways today and likely to remain flat for the day. A rally could be seen above 57200 which may last till 57600-57900 and then Silver may take a bounce back. The overall trend is sluggish.

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Commodity Silver Updates: Silver Trading Tips

A good upside move was seen today and Silver gained more than 4%. Since the the upside crucial level of of 53000 has been broken up, we can expect a positive day for Silver commodity and the prices may touch 55000 soon. But if Silver takes a flip move and breached 52000 again, it can invite 50000-49000 level again. Above 55000 silver may further take a bull run till 56500-57000.
Traders can buy Silver above 53550 TG- 53850-54000-54200 keeping stop-loss below 53100.

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Commodity Tips For Today

Sell Silver MCX (November) below 48850 Target- 48000-47500-47000 SL- 50000
Buy only above Above 51200

Sell Commodity Gold (October) below 25850 Target- 25600-500 Stop-loss- 26050
Buy Above 26250

Sell Copper (November) Below 359 for the Targets of 357-355 SL- 362.50
Buy only above 372

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Bullion Updates: MCX Silver Tips For Today

The prices have crossed the crucial 61000 mark which may invite some more rallies till 61500-61700 for the day. A consistent trade above the 61200 with adequate volume is required for to achieve higher levels. Below the same, Silver might face some downfall.
Traders are advised to take long positions above 61200 for the targets of 61500-61700 SL below 60890.

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MCX Silver Updates: Evening Report

Silver prices are heading towards 59000 mark and If prices moves above 59200 mark, more upside levels may be seen till 59500-59800 for the day. In broad perspective 60800 will act as crucial resistance to see the rally. Below 57900 silver is looking bearish.

For intraday Traders can buy silver above 59100 for the targets of 59400-700 Stoploss- 58800.

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Gold Silver Intraday Updates- Evening Trading Tips

Sell Silver below 57700 Target-57500-57300-100 Stop loss- 58400


Gold (June Futures): Sell - 22020,  Target-21850-800 Stop loss- 22160 

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Gold Silver Weekly Report - Bullions Next week (2-6 May)

Gold Market Overview
COMEX Gold is in an upward phase. Last week COMEX Gold sustains on higher level and closed near to its week high. In the coming week 1500$ will act as a major support in COMEX Gold, if COMEX Gold sustains above 1525 $ an ounce then above 1575 $ an ounce it can touch the level of 1530$ an ounce and if COMEX Gold sustains below 1490$ then it can slightly correct and test the level of 1460$ an ounce.

Strategy

For the next week traders can use buy on lower level strategy if COMEX Gold sustains above 1520$ an ounce, then above 1575$ it can test the level of 1590$ an ounce and above 1590$ it can further move upward. Trade by keeping the strict stop losses.

Major support for COMEX Gold in the coming week is 1500$ and 1450$.
Major resistance for COMEX Gold in the coming week is 1605$ and 1645$

Major support in MCX Gold is 22200 and 21900
Major resistance in MCX Gold is 23050 and 23300


Silver Market Overview
COMEX Silver is technically strong on charts. Last week COMEX Silver neither closed on higher levels nor at lower levels. For the upcoming week 4380$ and 4220$ are the crucial supports and 5000$ and 5150 $ are crucial resistance in COMEX Silver.

In MCX Silver 73000 and 75500 will act as major resistance and 64000 and 63000 will act as major supports.

Strategy
Technically COMEX Silver is strong on charts, For the next week traders can use buy on lower level strategy if Silver sustains above the level of 4500$ an ounce, then above 4930$ an ounce it can further go upward and can test the level of 4990$ an ounce. Trade by keeping the proper stop losses.

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MCX Updates: Gold and Crude Down

Gold yesterday ended down in tandem with falling Crude oil prices, as safe-haven bids faded. Crude oil prices ended at 4898 rupees per BBL after touched weekly high level at 5021 rupees.

The war premium in the metals seems to have diminished as news that a possible ceasefire in Libya and the willingness to negotiate a settlement is putting pressure on the commodity market.

On Tuesday, Gold June delivery contact drop by 0.23 percent to 21270 rupees per kilogram. Amid falling metals and silver prices, Gold future remained under pressure in intraday trades.

Instant Support for Gold future seen to be at 21270 and below it may test 21250 rupees. Resistance is now likely to be seen at 21420, a move above could see prices testing 21470.

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MCX Tips For 9th March 2011

MCX Gold – Apr  Buy at 21050 TG- 21100-21200 SL-20980

MCX Silver – May  Buy at 53800 TG 54000-54400 SL 53500

MCX Crude Oil – Mar  Buy at 4755 TG 4795-4820 SL-4675

MCX Copper – Apr  Sell at 432 TG 425 SL-434

MCX Natural Gas - Mar  Buy at 175 TG 180 SL-173

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MCX Commodity Updates- Silver at 6 weeks Low

In International markets, Silver future prices climbed on Wednesday on technical buying and short covering by investors and speculators.

In last trade, Silver future traded at 27.63 USD per ounce. Silver future has fallen more than 10 percent from beginning of the year 2011. Presently, Silver future prices are trading at 8 weeks low on weak physical demand.

Silver future expected to fall further till 25 USD levels. Silver future prices are likely to fall further and may test 23 in coming weeks if a price sustains below 27 USD.

At MCX counter, Silver future prices settled at 42200 rupees per kilogram higher which is up by more than one percent from previous close of 41747 tracking strong buying sentiment in international market. Silver future opened slightly higher at 41850 compared to previous day's close of 41747 rupees.

Instant Support for Silver looks at 40600 and 39410 rupees. While crucial resistance seems to be at 44000. Silver prices may fall further to test immediate support levels if prices failed to sustain resistance levels in near term, maintained Amrita Mashar, commodity analyst with Commodity Online.

Movement in Dollar Index and fell in ETF holding are playing key role to put pressure on silver prices these days.

Overall trend seems to be extremely bearish for Silver future in coming weeks. Short term bearishness will continue because of weak physical demand in global market and improved economic condition from US and Euro zone.

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