MCX Gold, Silver, Copper, Crude Oil Updates Today 04 April 2013

Precious metals prices are trading lower on international bourses today. We expect a further sell-off in the prices of precious metals as an early indication of alterations in the asset-purchase program by the Fed may pressurize prices. Selling on rise is recommended for the day.

Industrial metals prices are trading lower on international bourses today. We expect a further drop in the prices of metals on account of weak manufacturing growth in major economies of the globe. Selling on rise is recommended for the day.

Crude oil prices are trading lower on NYMEX today. We expect a further drop in the prices of oil on account of higher inventories at key ports. Selling on rise is recommended for the day.

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MCX Gold, Silver, Copper, Crude Oil Updates Today

Precious metals prices are trading firm on MCX today. We do not expect any major fall in the prices of bullions on account of the ongoing loose monetary policy by US Fed. Buying at dips is recommended for the day.

Industrial/Base metals prices are trading lower on international bourses today. We expect metals prices to remain under pressure on account of higher output from China and low physical demand. Selling on rise is recommended for the day.

Crude oil prices are trading a tad higher on NYMEX today. We do not expect any major rise in the prices of oil on account of higher inventory at key ports. Selling on rise is recommended for the day.

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MCX and NCDEX Commodity Market News Today

Precious/Bullion metals (Gold and Silver) are trading lower on MCX Commodity Market today. We expect prices to trade lower for the following trading session remaining under pressure due to a firm dollar. All base metals are trading on a negative note today. We expect prices to trade lower for the day on account of a stronger dollar. Crude oil is trading lower on MCX Commodity today. We expect prices to trade lower for the day on account of a stronger dollar and expectations of rising U.S. crude stocks offset Iranian threats to halt a vital oil trade route.

NCDEX Agri Commodity Market Trading Tips:

Pepper futures may trade sideways. Jeera futures extended the down trend due to weak cues from the spot market. Jeera futures may remain below 16,400 levels owing to profit booking from higher levels. Turmeric futures traded mixed following the rise in spot prices. Cardamom futures gained due to positive cues from the physical market. Pepper prices traded lower after making a high of 33150. We expect if prices break and sustain below the same may see further fall towards 32100 then 31800 levels for the day.

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mcx gold tips, mcx silver tips, copper updates, crude updates

Today Gold and Silver are trading at negative prices. Copper and Crude Oil are trading at positive price. MCX Gold is trading in the range of Rs. 27,600-27,800. and MCX Silver is trading in the range of Rs. 52,600-52,800 in today's trading session. Today MCX Copper is trading above Rs. 405 and Crude Oil is trading above Rs. 5350. MCX Crude may touch the levels of Rs. 5400.

Gold is expected to witness some selling pressure at current levels. Gold can test 27,500 while silver 52,000 in near term. All base metals may trade sideways with weak bias. Crude oil can test 5,400 in MCX.

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MCX Commodity Market News and NCDEX Agri Tips Today

MCX Silver continues to remain sideways, trading in the range of Rs. 53,000-54,500. In this broader range it`s forming a triangular pattern and the breakout levels of it are 53,200 and 52,888. The triangle is likely is break on the lower side.

MCX Crude oil is trading in an upward sloping parallel channel and till the upward trend is intact we maintain our bias up. The support on the lower side is at 5,040, whereas, the resistance is at 5,380 and 5,600.

MCX Gold is too forming a triangular pattern and its trading in a very narrow range of 27,700-27,800 levels. It is expected to break on the upside and the minimum target for the same is 27,955.

NCDEX Guar seeds
It has formed an ending diagonal pattern in its wave five up and it quite close to its breakdown level. The crucial support is at 6,940 level once broken will confirm the medium term top for it. The minimum target on the lower side is the beginning of the wedge pattern i.e. till 6,050 levels.

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