Today Silver Price in Mcx Market

MCX Dec Silver futures opened 400 points gap down in yesterday’s sessions, there after traded in a  narrow range with a negative bias. However, today’soutlook remains neutral and further fall is expecting on break of 35650 levels. Downside support seems to be at 34770 levels.

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Mcx Market Base Metals Report

Base Metals
Base metals pack on the LME traded on a mixed note yesterday as news that Japan's economy had slipped into recession weighed on prices. Also, strength in the DX along with weak market sentiments acted as negative factors. Further, output at factories, mines and utilities in the U.S., the second-biggest consumer, fell 0.1 percent in October.

Copper
LME copper prices fell by 0.1 percent yesterday as Japan’s slump into its fourth recession since 2008 threatening the failure of the Abenomics reflation program, raised demand concerns for the red metal. Also, unfavorable industrial data from the US exerted downside pressure on prices. However, expectations of supply deficit coupled with decline in LME stocks cushioned sharp downside. 

On the MCX, red metal prices declined 0.1 percent and closed at Rs.415.1/kg on Monday.

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Today Silver Price of Mcx Market

Gold
On Monday, spot gold prices declined by 0.14 percent to $1186.2 /oz on reports that Japan had slipped in to recession which led to strength in the dollar index in turn dragging gold prices. The dollar surged to a seven-year peak against the yen after data showed Japan's gross domestic product (GDP) shrank by an annualized 1.6 percent in July-September, after plunging 7.3 percent in the second quarter.

On the MCX, gold prices declined by 0.51 percent to close at Rs.26330/10 gms.

Silver
Spot silver prices declined by 1 percent to close at $16.1/oz on Monday in tandem with fall in gold prices. Strength in the dollar and waning interest by the speculators is dragging prices down further. 

On the MCX, silver prices declined by around 1.12 percent and closed at Rs.35629/kg.

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NCDEX Chana Price For Today

NCDEX Dec Chana has lost its upside momentum. Weak close followed by a “spinning top” candlestick pattern on daily charts renders that temporary top has formed at 3260 levels. Now the bias remains neutral, on convincing break below 3203 levels will intact further weakness towards 3160 & 3126 levels.

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Today Silver Price of Mcx Market

MCX Dec Silver futures have been continued to trade in a narrow range 34250 to 35206 since last couple of days. Further outlook remains sideways and a convincing breakout of either side will give further direction in the counter. However, as the short term trend remains weak, on can create fresh shorts on at higher level of 35100.

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Trading Tips For Gold And Silver in Mcx Market

Gold held above a two-week low as investors assessed the health of the U.S. economy. Russia joined Turkey in adding bullion to reserves as assets in the largest exchange-traded product sank to the lowest in six years. Bullion for immediate delivery rose and fell at least 0.2 percent. Spot Gold is currently trading at $1230.

MCX Gold Dec is currently at `27177, it is trading up by `43 points for the day. Comex Silver is currently trading at $17.22 whereas MCX Silver Dec is currently trading at `38190, it is up by `66.

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Mcx Energy News For Today

WTI oil prices rose on Thursday on bargain buying at lower levels. Besides, data showing tight U.S. gasoline supplies and technical trading ahead of options expiry provided rare support amid a long downturn. U.S. government data showed gasoline stockpiles fell to their lowest level in two years, pushing gasoline futures 3 percent higher early and boosting crude futures which have fallen more than 25 percent since  June.

On the MCX, crude prices declined by 0.3 percent continuing its 
downtrend in the recent weeks and closed at Rs.5109/bbl. 

US natural gas futures edged lower on Thursday after the government reported a bigger-than-expected storage build and on forecasts for moderate weather over the next two weeks. 

On the MCX, crude oil prices are expected to trade lower taking cues from weak international markets.

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Commodity Market Gold and Silver News

Spot gold prices remained steady on Thursday supported by renewed worries about a global economic slowdown.

On the MCX, gold prices rose by 0.72 percent and closed at Rs.27449/10 gms.

Spot silver prices declined by half a percent taking cues from marginal decline in gold prices. Weakness in the base metal pack exerted downside pressure on prices.

On the MCX, silver prices rose marginally by 0.27 percent and closed at Rs.38872/kg.

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Latest News on Mcx Industrial Metals

ZINC(OCT)
Trend: Consolidate | Strategy: Buy on Dips
R1- 143.9  R2- 146.5 | S1-140.2 , S2- 137.3

NICKEL(OCT)
Trend: Consolidate | Strategy: Sell on High
R1- 1037, R2- 1055| S1-985, S2-958

ALUMINUM (OCT)
Trend: Consolidate | Strategy: Sell on High
R1- 120.3, R2- 122.5 | S1-116.3 , S2- 113.5

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Gold and Silver Market Trend

GOLD (DEC)
Trend: Consolidate | Strategy: Sell on High
R1- 27150, R2- 27480| S1- 26650, S2- 26280

SILVER (DEC)
Trend: Consolidate | Strategy: Sell on high
R1- 39350,R2- 40500| S1-37350, S2- 36180

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