Precious Metals Gold & Silver Headlines for Today

Gold prices have broken down and are trading below its immediate support at 27000 27050 levels. Prices can witness a pullback from lower levels and test 26950-27000 but failure to sustain at higher levels should be used to sell by day traders. Overall view for the day remains range bound to negative until prices sustain below 27100.

Silver prices are trading weak. Sustenance below 36550 will see prices test 36200 36100 area on the downside. Prices have multiple resistances around 36900-37000 levels and only a close above this levels will see positive momentum in the counter. Overall range for the day is seen between 36100 to 37000 levels.

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Precious Metals Gold & Silver Headlines

Gold was little changed on Tuesday, in a choppy session that took prices back below $1,200 an ounce as the dollar came off its lows and traders worried the U.S. Federal Reserve may remove the phrase "considerablem time" before raising interest rates.

Silver was down 2.5 percent at $15.71 an ounce. We expect Silver prices are likely to trade on negative note on the back of US interest rate outlook.

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International live Metals News and Pricing

Aluminium prices hit their lowest in two months on Tuesday, while copper also slid after poor industrial data from China, the world's biggest metals consumer, and a further fall in oil prices. Activity in China's factory sector contracted in December for the first time in seven months, the latest in a string of weak economic indicators. 

Broader market sentiment was soured as Brent oil futures fell below $59 per barrel for the first time since May 2009, while the rouble plunged more than 10 percent for a second day and recorded its biggest fall since the Russian financial crisis in 1998.

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Precious Metals Gold & Silver Headlines

Gold commodity marked its second weekly gain at the international and domestic markets with the yellow metal riding higher on the back of losses in major equity markets globally and good slide in US Dollar Index (USDX).

Silver too advance this week with the commodity once again rising around 5% and managing a decent outperformance over gold.

Silver owing to its higher beta and speculation that continued set of weaker Chinese economic data would force the government and its central bank to add more stimulus, gained more weight last week to $17 per ounce at Comex.

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International live Metals News and Pricing

Aluminum closed on a weaker note last week declining by around 2.37% to settle at $1941 MT. This downfall could be attributed to the weak global economic cues especially with China lowering its growth forecast for 2015.

Copper climbed up to settle at $6490 MT, up by $39 or 0.6% from its last week’s close. The continuous decline in the metal was put to a halt even though the economic data from China.

Nickel declined by around 1.2% and settled at $16600 MT last week. Fundamentally the metal seemed to have been running out on its appeal for the investors as the cancelled warrants declined more than 6.5% during the week.

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Mcx Market Base Metals Report

Copper futures fell the most in a week on concern that demand is ebbing in China, the world’s top consumer of industrial metals. China’s producer-price index in November fell 2.7 percent from a year earlier, government data showed today. The record 33rd straight decline was the biggest since mid-2013. Copper has dropped 15 percent this year, heading for a consecutive annual decline for the first time since 2001.

Nickel commodity also traded down along with other metals drop and ended the day at $16325 down by 1.30% from its previous close. This morning nickel is seen trading up by $42 from its previous close.

Both lead and zinc traded down but the loss in Zinc was more prominent to lead. Hence, the suggested spread between the two commodities has moved in the favor as expected. We believe still the same scenario could be developed where in continue to sell zinc and buy lead for the day.

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Today Gold and Silver Price in Mcx Market

Silver likewise gold traded in a constricted range though managed to eke-out marginal gains of around 0.3% to $17.18 per ounce at the Comex for March expiry

Silver same month’s expiry at MCX advanced 0.3% to Rs 38670 per Kg level. 

Gold after the good gains on Tuesday had a largely ranged session while finally the commodity closed modestly lower under $1230 mark, down by 0.2% at Comex.

MCX Gold for FEB expiry was also little moved though shut marginally higher by 0.1% to Rs 27190 per 10 Gms.

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Mcx Market Base Metals Report

Base Metals
The base metals pack traded on a mixed note in yesterday’s session on the back of unfavorable employment figures from the US economy acting as a negative factor. Further, strength in the DX exerted downside pressure on the prices.

Copper
LME Copper prices plunged around 0.6 percent yesterday on the back of unfavorable non-farm employment figures from the US hinting towards slow growth in world’s largest economy. Further, strength in the DX exerted downside pressure on the prices.

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Today Gold and Silver Price in Mcx Market

Gold
Spot gold prices gained by 0.89 percent to $1209.2/oz on Wednesday boosted by firmer oil prices that prompted investors to shuffle positions while largely shrugging off the firm U.S. dollar.

Silver
Spot silver prices declined by 0.2 percent to $16.4/oz in contrary to the gains in gold prices. Strength in the dollar index coupled with decline in copper prices also acted as a negative factor.

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Mcx Market Base Metals Report

Base Metals
Base metals on the LME aprt from Aluminium traded on a negative note yesterday after a surprise fall in U.S. consumer confidence. In addition, investors doubted whether additional monetary policy easing in top metals consumer China would translate into a significant increase in demand.

On the MCX, red metal prices plunged by 1.5 percent and closed at Rs.404/kg on Tuesday.

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Today Gold and Silver Price in Mcx Market

Gold
Spot gold prices edged up by 0.3 percent on Tuesday and closed at $1200.7/oz as dollar weakness after data showed a deterioration in consumer confidence, offsetting better-than-expected U.S. economic growth numbers.

On the MCX, gold prices rose declined by 0.58 percent and closed at Rs.26326/10 gms.

Silver
Spot silver prices rose by 1.3 percent and closed at $16.7/oz in tandem with rise in gold prices. Weak dollar and poor consumer confidence further pushed prices higher. 

On the MCX, silver prices rose by 0.76 percent and closed at Rs.36520/kg.

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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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Commodity Market Latest News for Today

Gold futures for December delivery rose 0.7 percent

Copper for delivery in three months added 1 percent

Aluminum, zinc and lead advanced in London

Gold futures rose to a three-week high as concern that the global economy is faltering stoked bets that the Federal Reserve will keep U.S. interest rates low, driving the dollar down and boosting the metal’s allure. Silver futures for December delivery climbed 0.2 percent to $17.345 an ounce. Copper prices rose in London, pacing gains by industrial metals, as faster exports eased concern that economic growth will fade in China, the world’s biggest consumer.

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Latest News on Mcx Industrial Metals

Lead:
Lead September prices have resistance at Rs.127.5 and can remain under pressure as far as it trades below this level. Only a breakout above Rs.127.5 can take prices higher towards Rs.129.0. On lower side prices have support at Rs.125.0.

Nickel:
Nickel September prices have resistance at Rs.1065 and as far as prices trades below selling can be seen there. Prices on lower side can fall towards 1040 and Rs.1030. Prices should not move above Rs.1075 to maintain negative outlook for the day. 

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Gold and Silver Market Trend

Gold prices are expected to have intraday support at $1220 i.e. Rs.26800-26850 and buying can be seen there. Prices on higher side can test $1230 i.e. Rs.27100 and again selling can be seen there. Prices should not fall below $1215 i.e. Rs.26700 to maintain the positive outlook.

Silver December prices are expected to intraday resistance at Rs.39600-Rs.39700 and selling can be seen there. Prices are expected to remain weak till it trades below Rs.40100. On lower side prices can test Rs.39100 and Rs. 38900. Day close below Rs.38500 will prices sharply lower towards Rs.37000.

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Commodity Market Latest News for Today

Gold futures for December delivery rose 0.2 percent

Silver futures for delivery in December fell 1.5 percent

Copper prices dropped to a 14-week low

Aluminum declined 1.2 percent to $1,950.50 a ton

Nickel, lead and zinc dropped in London,

Gold futures rose as a decline in U.S. equities reignited demand for an alternative asset. Silver futures for delivery in December fell 1.5 percent to $17.438 an ounce on the Comex, after reaching $17.27, the lowest since June 2010. Copper prices dropped to a 14-week low after a report showed demand for durable goods in August tumbled by a record in the U.S., the world’s second-biggest consumer of the metal.West Texas Intermediate rose to the highest level in a week as crude inventories shrank in the U.S., the world’s biggest consumer.

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Latest News on Mcx Industrial Metals

Copper:
November Copper prices have crucial resistance at Rs.418.0 and as far as prices are trading below this level prices can trade sideways to lower. Prices on lower side can give fresh selling pressure if sustain below Rs.413.0 and can extend fall towards Rs.409.0. Only a breakout above Rs.418.0 will turn outlook positive.

Zinc:
Zinc September prices can face resistance at Rs.137.8-138.0 and can remain under pressure as far as it trades below Rs.139.0. Prices on lower side can have support at Rs.134.5-135.0 and again bounce can be seen.

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Gold and Silver Market Trend

Gold prices are expected to have intraday resistance at $1230 i.e. Rs.26800-26830 and selling can be seen there. Prices on lower side can test $1215 i.e. Rs.26500. Prices should not move above $1235 i.e. Rs.26950 to maintain negative outlook for the day.

Silver December prices are expected to intraday resistance at Rs.39750-Rs.39850 and selling can be seen there. Prices are expected to remain weak till it trades below Rs.40100. On lower side prices can test Rs.39100 and Rs. 38900.

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Latest News on Mcx Copper

Copper prices are trading in a big range. Prices are expected to have support at Rs.418.0 and successful break down below this level can take prices further down towards Rs.413.0. On higher side prices have resistance at Rs.423.0

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Commodity Market Outlook for Today

Gold futures tumbled to an eight-month low

Silver futures for delivery in December fell 1.2 percent

Crude futures dropped 1.4 percent

Copper futures capped the biggest decline in more than a week

Aluminum, nickel and lead also dropped in London, while tin and zinc rose.

Gold futures tumbled to an eight-month low after the Federal Reserve raised its outlook for interest rates, crimping demand for an inflation hedge. Silver futures for delivery in December fell 1.2 percent to $18.517 an ounce. The price touched $18.27, the lowest since June 28, 2013. West Texas Intermediate and Brent oils fell as a stronger dollar curbed the appeal of commodities to investors looking for a store of value. Copper futures capped the biggest decline in more than a week on demand concerns amid signs that housing markets are sputtering in China and the U.S., the two biggest users.

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Latest News on Mcx Copper

Copper prices jumped by 2 percent as the People’s Bank of China provided 500 billion yuan ($81.34 billion) of liquidity to the country’s five biggest banks as Premier Li Keqiang moves to support economic growth.

MCX copper prices are expected to trade higher taking cues from weakness in international markets.

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Commodity Market Outlook for Today

Gold advanced for a second straight day

Silver futures for delivery in December rose 0.5 percent

Crude climbed to a two-week high

Gold advanced for a second straight day as a drop in the dollar and a report that China’s central bank implemented new stimulus measures boosted demand for the metal as an alternative investment. Silver futures for delivery in December rose 0.5 percent to $18.721 an ounce on the Comex.

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Latest News on Mcx Copper

November Copper prices can initially move higher towards Rs.428.0-428.5 but again prices will see selling pressure at this level. Prices should not move above Rs430.0 to remain weak for the day. On lower side prices can have support at Rs.422.0.

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Commodity Market Outlook for Today

Gold prices have strong support at $1240 i.e. Rs.27000 and if prices hold this level then bounce can be seen. On higher side prices needs to clear $1258 i.e. Rs.27500 to move further higher else prices can again come down. Prices should not close below $1240 i.e. Rs.27000 to maintain corrective view.

Silver December prices have stiff resistance at Rs.42500 and only a breakout above this level can take prices higher towards Rs.42900-43000 else prices can trade sideways to lower. On lower side prices have support at Rs.41600 and further selling can be seen below this level.

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Gold Price in Indian Commodity Market

Gold hovered near its lowest in three months on Tuesday after sharp overnight losses as the dollar traded at 14-month highs against a basket of major currencies, dimming the metal's appeal as a currency hedge. 

FUNDAMENTALS 
Spot gold was little changed at USD 1,255.20 an ounce by 0028 GMT. The metal closed down 1 percent on Monday, after earlier hitting USD 1,251.24 - its lowest since June.

The dollar was boosted after a Federal Reserve study on interest rates and as the sterling was pressured amid ongoing jitters that Scotland could vote to secede from the United Kingdom.

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Latest News on Mcx Copper

November Copper prices are expected to have intraday support at Rs.427.0 and on higher side prices have crucial trend line resistance at Rs.433.0. Prices can trade sideways to higher as far as prices are holding support of Rs.424.5.

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Commodity Market Outlook for Today

Gold prices are expected to have resistance at $1260 i.e. Rs.27300-27330 around in MCX and selling can be seen there. Prices on lower side can extend fall towards $1240 i.e. Rs.26850. Prices should not move above $1266 i.e. Rs.27500 to maintain negative outlook for the day.

Silver December prices are expected to have resistance at Rs.42000-42150 and selling can be seen there. Price on lower side can test Rs.41600 and 41400. Prices should not move above Rs.42400 to maintain negative outlook for the day.

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Latest News on Mcx Copper

November Copper prices are expected to have support at Rs.424.5-425 and prices can move higher towards 429.0 and fresh upside can be seen only above this for rs.429.0. and prices can test Rs.431.0. Prices should not fall below Rs.423.0 to maintain positive outlook.

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Commodity Market Outlook for Today

Gold prices are expected to have resistance at $1266 i.e. Rs.27360-27390 around in MCX and selling can be seen there. Prices on lower side can extend fall towards $1252 i.e. Rs.27200. Prices should not move above $1273 i.e. Rs.27530 to maintain negative outlook for the day.

Silver December prices are expected to have resistance at Rs.42150 and selling can be seen there. Price on lower side can test Rs.41600 and again bounce back can be seen there. Prices should not move above Rs.42450 to maintain negative outlook for the day.

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Latest News on Mcx Copper

MCX Copper settled at Rs 428.65 per kg, against Rs 427.4 per kg on 1 September 2014. The prices tested a high of Rs 431.65 per kg and a low of Rs 428.1 per kg. The selling pressure that has been built in Copper was removed last evening with prices moving higher by 0.29%. The session was capable of taking Copper above Rs 430 per kg though the settlement was lower. On the higher side Copper is capped at Rs 432 per kg. Supports for the prices are at Rs 425 per kg. Open interest has been increasing on a steady basis to 8000 against 8124 probably on account of decline in the short positions.

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Commodity Market Outlook for Today

Gold prices are expected to have resistance at $1273 i.e. Rs.27680 and selling can be seen there. Prices on lower side can slide to $1258 i.e. Rs.27400. Prices should not move above Rs.27800 to maintain negative outlook for the day.

Silver December prices are expected to have resistance at Rs.42500 and selling can be seen there. On lower side prices can test Rs.41700 and again pull back can be seen there. Prices should not move above Rs.42900 to maintain negative outlook for the day.

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Mcx Market News for Gold & Silver

Gold prices are expected to have resistance at $1288 i.e. Rs.27950 and  selling can be seen there. Prices on lower side can slide to $1270 i.e. Rs.27700. Prices should not move above Rs.28100 to maintain negative outlook for the day.

Silver December prices are expected to have resistance at Rs.43200 and on  lower side prices have support at Rs.42500 and prices are expected to trade sideways to lower for the day. Further weakness can only be witnessed if prices close below Rs.42500.

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