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Tuesday, 31 March 2015

Mcx Bullion Market ;Gold Silver Commodity Updates

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Indian jewellery demand, central bank buying
and India's monetization schemes are likely to influence Gold in a positive way. Meanwhile, dollar strength and supply concerns are chief obstacles.MCX GOLD June contract was trading at Rs 26413 down Rs 42, or 0.16 percent. The GOLD rate touched an intraday high of Rs 26425 and an intraday low of Rs 26360. So far 1094 contracts have been traded. GOLD prices have moved down Rs 78, or 0.29 percent in the June series so far.
Gold prices moved lower for the second straight day. The prices tested a high of Rs 26459 per 10 grams and a low of Rs 26235 per 10 grams. Volumes of Gold are at 11569 on 30 March 2015 and a low of 15662 on 27 March 2015. Open interest was at 4786 compared to 6057 on 27 March 2015. Copper ended the day at Rs 26270 per 10 grams. The prices are resisted at Rs 26500 per 10 grams. On the lower side, the supports are at Rs 26100 per 10 grams.
Indian Rupee is likely to extend weakness seen late yesterday, tracking a rebound in the US currency overseas in early Asian trades Tuesday.Crude Oil has been juxtaposed in the last one week. The prices of Crude Oil ended close to psychological level of Rs 3000 per barrel. The prices ended at Rs 3017 per barrel against Rs 3152 per barrel on 27 March 2015. The prices have moved back from levels of Rs 3270 per barrel.

Thursday, 26 March 2015

Bullion Mcx Tips; Indian Commodity Market Updates

Gold extended gains to a seventh session on Thursday in its longest winning streak since 2012 as soft U.S. data boosted expectations the Federal Reserve would keep interest rates low for the time being. Spot gold rose 0.3 percent to $1,199.30 an ounce by 0306 GMT. Earlier in the session, it hit $1,200.10, its highest since March 6. The seventh day of gains matches a similar stretch in August 2012.
Gold prices rose by Rs 100 to Rs 26,550 per 10 grams at the bullion market today on increased buying by jewelers and retailers amid a firm global trend. Silver also moved up by Rs 200 to Rs 37,800 per kg on increased off take by industrial units and coin makers.
Crude oil prices rebounded in Asia on Thursday with events in Yemen offering fresh support as Saudi Arabia and allies bomb Houthi rebel positions and President Abdrabbuh Mansour Hadi hangs onto power.On the New York Mercantile Exchange, WTI crude for May delivery rose 0.99% to $49.70 a barrel.
MCX Copper April expiry contract closed unchanged on Tuesday. Prices lost ground inching closer to Rs 390 which proved a crucial resistance of last week. Copper ended the day at Rs 387.15 per kg on 25 March 2015 against 387.75 per kg on 24 March 2015. Gains are expected to get resisted at Rs 392-393 per kg today. Meanwhile support for Copper is at Rs 385 per kg.
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Tuesday, 24 March 2015

Today Bullion Market Tips; Latest Mcx Gold News

Gold retained gains from a three-day rally on Monday to trade near its highest in two weeks, boosted by a weaker dollar and caution from the Federal Reserve on the timing of a possible hike in US interest rates. Spot gold was little changed at $1,181.71 an ounce by 0331 GMT. It climbed to $1,187.80 on Friday, its highest since March 6, as the dollar tumbled.
Gold futures reach two-week high: - Gold futures edged up on Monday reaching two-week highs, amid modest gains from the euro against the U.S. dollar. Gold futures traded at a daily low of $1,178.60 in U.S. morning trading. Gold futures likely earned support at 1,148.20 the low from March 17 and resistance at 1,196.20 the high from March 5.
Crude oil futures soared on Monday, as the euro continued its steady rally against the dollar upon expectations of an interest rate hike by the Federal Reserve at some point this year. On the New York Mercantile Exchange, WTI crude for May delivery rose 0.82 or 1.72% to $47.37 a barrel. Last Friday, futures for April delivery surged roughly 5% as speculative oil traders used the weakening dollar to hedge their positions in crude.
MCX Copper April expiry contract recovered on the back of some bottom fishing. The prices gained for the third straight day in a row. The closure for the Copper was at Rs 386.2 per kg. However it is critical to note that Copper is in a rising wedge pattern. The prices have been in a rising wedge pattern and that means that is the bearish indicator for prices to fall further in coming days.

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