MCX Recent News: Copper Swings Due to Seasonal Demand

Copper troubles between gains and losses as investors weighed economic growth in China, the world’s biggest consumer, against waning seasonal demand.

Copper prices were likely to find support at USD3.231 a pound, the low from December 9 and resistance at USD3.270 a pound, the high from November 24.

COPPER (FEB)

Trend: Consolidate | Strategy: Sell on High

R1- 453, R2- 463 | S1-442, S2- 434

Today’s MCX Market Highlights

•Gold capped the biggest advance since mid-October

•Silver futures for March delivery climbed 3.1 percent

•Crude traded near the highest price

•Copper consolidate near high

•Zinc lead move up almost 1% on Thursday

•Natural gas slide from recent high

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MCX Tips: Gold Trading in a Tight Range

Trade in gold is in a very tight range on Monday as markets fretted over once the U.S. Federal Reserve can begin to taper its economic input and as stronger equities damaged the metal's safe-haven charm.

At the today’s moment gold is prices are increasing from morning and should swings between gains and losses. Spot gold was up 0.1 percent to $1,229.79 an ounce by 0401 GMT. Most Asian share markets rose, energized by a potent cocktail of upbeat Chinese trade data, a weaker yen and a firm finish on Wall Street.

GOLD (FEB)
Trend: Consolidate | Strategy: Buy on dips
R1- 29570, R2- 29950| S1-28760, S2- 28350

Spot silver gained 0.3 percent to $19.566 an ounce. Platinum rose 0.2 percent to $1,361.88 an ounce, climbing for the first time in three days. Palladium was little changed at $734.38 an ounce.
 
SILVER (MAR)
Trend: Consolidate | Strategy: Sell on high
R1- 45150, R2- 46700| S1-43350, S2- 42580
 
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Mcx Market - Gold News Today

Gold finds dropping low on thursday following a short-covering rally in the previous session, weighed down by concerns the U.S. Federal Reserve could soon begin tapering its monetary stimulus on strong economic data.

 

SPDR Gold Trust, Holdings of world's largest gold-backed exchange-traded fund fell 2.70 tonnes to 838.71 tonnes on Wednesday.

Spot Gold: after gaining 1.6 percent in the previous session Spot gold fell 0.4 percent to $1,238.30 an ounce by 0027 GMT.

Today’s Technical Trend for Gold

GOLD (FEB)
Trend: Consolidate | Strategy: Buy on dips
R1- 29870, R2- 30250| S1-29160, S2- 28850

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Mcx Tips: Gold Price Drop in Asia

Gold prices fell in Asia on Monday in thin trade as investors await key jobs data due out in the United States this week to gain a better handle on prospects for the Federal Reserve to start tapering its stimulus program.
       
The metal has lost over a quarter of its value this year due to record outflows from gold-backed exchange-traded funds as investors shifted money to rallying equities.

Markets seem to have already priced in a possible stimulus tapering from this month due to strong economic data, with gold prices trading below $1,300 an ounce for over three weeks.

Today’s Gold Trend:
GOLD (DEC)
Trend: Consolidate | Strategy: Buy on dips
R1- 30450, R2- 30880| S1-29860, S2- 29530

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