Market Update

Market Watch

Tuesday, 5 March 2013

Mcx Commodity Tips Free



Mcx Tips Today:

  • Gold futures climbed for the first time in four sessions
  • Silver futures for May delivery climbed less than 0.1 percent
  • Natural gas futures jumped to a five-week high
  • Crude oil closed at the lowest this year


Lead and zinc fell in London as China’s efforts to cool property prices fueled concerns that growth may slow in the world’s biggest metals consumer. Gold futures climbed for the first time in four sessions on speculation that central banks will continue stimulus measures to spur economic growth. Silver futures for May delivery climbed less than 0.1 percent to $28.496 an ounce on the Comex. On March 1, the price touched $27.925, the lowest for a most-active contract since Aug. 16. The metal has declined 5.7 percent this year. Natural gas futures jumped to a five-week high in New York on speculation that unusually cold weather in the East will spur demand for the heating fuel.

Technical View: 

GOLD(APR)

Trend            • Consolidate

Strategy          • Sell on high
Resistance     • R2 - 30280
                        • R1 - 29980
support          • S1 - 29480
                        • S2 - 29150

SILVER(MAY)

Trend          • Bearish
Strategy      • Sell on high
Resistance  • R2 -57750
                      • R1 -56270
support        • S1 - 53350
                      • S2 - 52200

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