Why MCX gold and silver cues in reverse direction in domestic and overseas market
Commodity market in this month show lots of color in base metal as well as precious metal. In global market US dollar makes more correction against EURO. Euro diminish continue in global market and fall by more than 1% against hot currency of US. Currently Euro is under fully control but it affects the global market. Especially Asian commodity market are disappointed by this news and unable to control the movement, bullion market comes to 2 year near low.
If we talk about Indian market gold and silver low more than -1000 point in gold in this week and comes below to 26000. Currently in domestic market gold price are floating in negative note at 25800 and expected more down reaction. While in New York electronic buying gold prices are down by more than 1.89% at $ 1358.30 an ounce. In upcoming weeks gold and silver are predicted to be more red in overseas and domestic market.
White metal on Domestic market expected to come near 41000 in upcoming weeks, silver price are trading under pressure on the track on gold. MCX silver for future delivery fail to gain a investor because of low trend, and weak US job data and Euro Zone report limited the white metal.
Many people thinking that this year a boom on precious metal but I personally suggest that this year market is volatile in bullion and good for base metal that going to over range with a slow movement. Time has come to hold a strong hand that is other metal like copper, nickel, zinc and nickel. You also have a good option of cotton that is top gainer in previous month and making a incredible changes in green side, cotton prices soon crosses the mark of 18000 and above for May delivery.
While natural gas and mentha oil are also a good option for trader to work on, mentha oil in domestic market performing well with a good trading level. MCX mentha oil for May delivery experienced more rises, currently mentha oil is at 946.50 at 12:35 pm. Movement is natural gas is not high but sufficient for new trader to earn a healthy profit from MCX market.
Crude oil market also stimulates the market jump, global crude position give some advanced to domestic trader at MCX. In upcoming week crude oil movement are going to jump more with some volatility in trend. Crude oil is trading with a good support in market. Crude oil passes above 5300 and a good demand are generated in market overseas market.
I personally advice the trader to trade in commodity market with always a STOPLOSS and take a commodity tips form a good advisory like us that give a chance to prove themselves with a free trial .
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