MCX Gold Silver Trends

GOLD:

Trend updated for-May/10/2013.CMP-27166 Overall trend of the Gold is bearish for medium-long term .Currently Gold is moving sideways The Gold is now trading in overbought level. The Gold is now trading in overbought level. The oscillator is showing BUY signal .In last 1 month volatility is very less and fresh Buy can be considered in the Gold if it close above27557 or buy with strict stop at 25958. The Gold is now trading in overbought level. The Gold is now trading in overbought level. The oscillator is showing BUY signal For short term Gold is in HOLD LONG position.Positionally Support for the Gold is 26829-26773-26673-. Resistance for the Gold is 28248-28818-29280-

SILVER:

Trend updated for-May/10/2013.CMP-45165 Overall trend of the Silver is bearish for medium-long term .Currently Silver is moving sideways The oscillator is showing BUY signal .In last 3 weeks Silver is trading in low volatility and fresh Buy can be considered in the Silver if it close above46003 or buy with strict stop at 42169. The oscillator is showing BUY signal For short term The current position is BUY .Positionally Support for the Silver is 44805-44658-44429-. Resistance for the Silver is 49332-51271-53192-

TECHNICAL VIEW:

GOLD (APR) 

Trend          • Consolidate

Strategy      • Sell on high

Resistance  • R2 - 27780 ;  R1 - 27350
support       • S1 – 26650 ; S2 – 26180

SILVER (MAY)
Trend          • Bearish

Strategy      • Sell on high   

Resistance  • R2 - 46750 ; R1 - 45870           
support       • S1 - 43350  ; S2 – 42200

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Mcx Market Watch

GOLD:

Trend updated for-May/08/2013.CMP-26722 Overall trend of the Gold is bearish for medium-long term .Currently Gold is moving sideways The Gold is now trading in overbought level. The Gold is now trading in overbought level. The oscillator is showing BUY signal .In last 1 month volatality is very less and fresh Buy can be considered in the Gold if it close above27557 or buy with strict stop at 25764. The Gold is now trading in overbought level. The Gold is now trading in overbought level. The oscillator is showing BUY signal For short term The current position is BUY .Positionally Immediate support for Gold is 25764.Resistance for the Gold is 26864-27044-27072-28337-28916-29355-

SILVER:

Trend updated for-May/08/2013.CMP-44861 Overall trend of the Silver is bearish for medium-long term .Currently Silver is moving sideways The oscillator is showing BUY signal .In last 3 weeks Silver is trading in low volatality and fresh Buy can be considered in the Silver if it close above46003 or buy with strict stop at 42169. The oscillator is showing BUY signal For short term Silver is in HOLD LONG position.Positionally Support for the Silver is 44636-44231-.Resistance for the Silver is 45722-49721-51625-53458-

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Mcx Commodity Market in India

The flow of investments out of commodities slowed down sharply in March to a net $2.6bn from $4bn in February. The main reason for this slowdown was a halving in the value of funds withdrawn from precious metals ETPs to $2.6bn.

Inflows to commodity indices stayed positive but at just $200m, were a long way below the February total of $1.4bn, while there was a small pickup in commodity structured products, which saw $320m of new issuance.

The driving force behind outflows of commodity investments is the phase of rapid liquidation that has hit gold ETPs. Indeed, in light of this rapid liquidation, the stability in total commodity investment AUMs is notable.

At $409bn, the March total fell by just $1bn from the prior month with the modest inflow s into other commodity assets, plus some minor price appreciation, sufficient to offset the negative gold flows. March was the seventh successive month that commodity AUM has totaled over $400bn.

The question of course is whether this stability in the overall picture for commodity investments will continue? What happens in gold will go a long way to determining that. Although the data is not yet available to estimate April flows for all the sectors we cover, it is clear that gold liquidation has accelerated again.

Around 50t of gold ETP holdings were liquidated in March, but the rate of liquidation has picked up substantially again in April with almost 170t sold thus far.

Sales could continue at high levels. The 360t of gold sales from ETP so far this year equates to more than 50% of all the gold mined over the same period but is less than 15% of total gold held in ETPs and so unless investors regain their faith in gold soon, the prospects is for further heavy outflows to come.

Not all of the precious metals suffered net outflows in March, both platinum and silver recorded fresh interest. In tonnage terms, metal held in trust across both of these commodities hit record highs. Other markets did less well, however.

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Daily Mcx Commodity Report

MARKET WRAP

• Crude fell, trimming the biggest weekly increase
• Gold futures fell 0.7 percent to $1,451.8
• Silver futures for July delivery dropped 1.9 percent
• Natural gas fell in New York for the fourth time in five days.

Crude fell, trimming the biggest weekly increase since June, as the U.S. economy grew less than expected in the first quarter. Gold futures fell 0.7 percent to $1,451.80 an ounce on the Comex in New York, erasing earlier gains after the U.S. economy grew less than forecast in the first quarter. Silver futures for July delivery dropped 1.9 percent to $23.725 an ounce on the Comex. Natural gas fell in New York for the fourth time in five days, heading for the first weekly drop since February, on speculation that fuel demand will slump after a shot of unusually cold weather next week.

TECHNICAL VIEW

 

GOLD (APR) 

Trend          • Consolidate

Strategy      • Sell on high

Resistance  • R2 - 27980 ;  R1 - 27550
support       • S1 – 26750 ; S2 – 26280

SILVER (MAY)
Trend          • Bearish

Strategy      • Sell on high   

Resistance  • R2 - 46750 ; R1 - 45870          
support       • S1 - 44350  ; S2 – 43200

LEAD (APR)

Trend          • Consolidate

Strategy      • Sell on high   

Resistance  • R2 - 115.5 ; R1 - 112.8       
support       • S1 - 109.3  ;S2 – 107.3

ZINC (APR)

Trend          • Consolidate

Strategy      • Sell on high   

Resistance  • R2 - 106.3 ; R1 - 103.5      
support       • S1 - 99.3  ; S2 - 97.5

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