Market Update

Market Watch

Monday, 12 August 2013

Mcx Bullion Market Live



Market Wrap:


· Gold climbed to the highest level this month
· Silver for immediate delivery jumped as much as 2.3 percent
· Crude swung between gains and losses
· Copper Prices jumped 4.2 percent last week.
· Base metals recovers from day’s low

Gold climbed to the highest level this month after holdings in the biggest bullion-backed exchange-traded product expanded for the first time since June. Bullion for immediate delivery rallied as much as 1.5 percent to $1,333.94 an ounce, the highest price since July 31. Assets in the SPDR Gold Trust increased 1.8 metric tons to 911.13 tons on Aug. 9. Silver for immediate delivery jumped as much as 2.3 percent to $21.0215 an ounce, the highest price since June 20, before trading at $20.8020. The metal advanced 3.3 percent last week, the biggest gain since the period to July 12. West Texas Intermediate crude swung between gains and losses after the biggest rally in more than a week. Brent fell for the sixth time in seven days.

Technical Trends:

GOLD (Aug)
Trend: Consolidate  | Strategy: Sell on high
R1- 26250, R2- 26780 | S1-25850 , S2- 25580
SILVER (SEP)
Trend: Consolidate  | Strategy: Sell on high
R1- 41270, R2- 42450 | S1-39150 , S2- 37500
COPPER (AUG)
Trend: Consolidate  | Strategy: Sell on high
R1- 417, R2- 426| S1-403 , S2- 395
ZINC(JULY)

Trend: Consolidate  | Strategy: Buy on dips
R1- 117.3, R2- 120.5 | S1-114.3 , S2- 115.5
NICKEL(JULY)
Trend: Consolidate  | Strategy: Buy on dips
R1- 905, R2- 927 | S1-878 , S2- 853
ALUMINUM (JULY)
Trend: Consolidate  | Strategy: Buy on dips
Trend R1- 113.3, R2- 116.5 | S1-109.5 , S2- 107.3
CRUDE (JULY)
Trend: Consolidate  | Strategy: Buy on dips
R1- 6495, R2- 6570 | S1-6340 , S2- 6250
NATURAL GAS (JULY)
Trend: Consolidate  | Strategy: Sell on high
R1- 203, R2- 215  S1-191, S2- 183
LEAD (JULY)
Trend: Consolidate  | Strategy: Buy on dips
R1- 133.3, R2- 135.7 | S1-129.2 , S2- 126.5

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