Market Update

Market Watch

Monday, 26 May 2014

Morning Latest Mcx Tips and Metal Updates

Platinum group metals climbed on Monday on supply fears from strikes in major producer South Africa,
Palladium also gained 0.5 percent to $828.70 an ounce, near a 2-1/2 year high.
Gold continued to struggle below $1,300 an ounce on Monday after ending flat for two straight weeks, but the metal could gain from developments in Ukraine
Spot gold was steady at $1,292.26 an ounce by 0022 GMT, after ending flat for a second straight week. The metal has closed between $1,291 and $1,296 in the last seven sessions.
Trend: Consolidate | Strategy: Buy on dips
R1- 27650, R2- 27950| S1-26850, S2- 26450

Silver for immediate delivery traded at $19.4445 an ounce from $19.4584 on May 23, when prices slipped 0.3 percent.
Trend: Consolidate | Strategy: Sell on high
R1- 41950, R2- 42800| S1-40150, S2- 39180

Brent crude edged down towards $110 a barrel on Monday, dipping further from last week's two-and-a-half month high as worries over Ukraine eased slightly after its presidential election.
Trend: Consolidate | Strategy: Sell on high
R1- 6150, R2- 6230| S1-6030, S2- 5950

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