hot commodity updates

In the bullion global market gold is set to break its previous all time record high price of $1,920 per ounce in 2013. While in the domestic market gold is trying to recover from its two week position. On the MCX yellow metal is opened at 31319 on the December contract its previous close is 31262. Meanwhile the white metal is open at 62200 its previous close is 61814 on the MCX December contracts. In the global market silver price is expected to go higher due to the issue between GREECE and UNITED STATE. 2013 is expected a good market year for the base metal and precious metal according to report. India is the top wheat supplier in the world, is now going to export more wheat in the global market, in the end of July government had allowed exporting of 2 million tons wheat, and in the last week cabinet approved 2.5 million tons wheat for export. Wheat price has risen by 40% in the recent month. The global output of wheat is expected to decline to 654 million tons in 2012-13, down from 695 million tons the previous year, according to the International Grains Council.

Today MCX calls:-

Buy gold dec tgt 31200….31300………..sl 30950

Buy silver dec tgt 61500….61600++…..sl  60000

SELL SILVER MAR BELOW 63580 TARGETS 63515 , 63430 , 63330 STOPLOSS 63707

BUY COPPER FEB ABOVE 445 TARGETS 446.5 , 448 , 449.5 STOPLOSS 442

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