Saturday, April 20, 2013

MCX report and Commodity trend in upcoming week

Top Commodity bounce back again at multi commodity exchange, gold prices again raise towards good direction and a little sweet fragrance are coming from MCX gold. Currently gold is above 26000 a good jump in this end of the week after a huge fall on early of this week.  In upcoming week more positive reaction are expecting form yellow metal and many analyst believe that gold prices again playing at their top. Similarly white metal also tries to recover from a huge destruction. 

Currently silver is on green side with bit positive trend and expecting more hike in upcoming week.  Recently a silver price gains a good movement and crosses the level of 43000. In global market some volatility had seen in this week and hopes a positive trend in upcoming week.

Base metal at multi commodity exchange trade on light positive side on the end of week, Copper, nickel, zinc, lead and aluminum are following a good trend in overseas market. Nickel and copper and expected to go high in upcoming week in Asian market. In domestic market copper is trading above 376 and acquiring more correction. Nickel price are following a good trend but due to lower support at LME push it back, currently copper price are trading at 820.90 at 1.59 pm.

In upcoming week more correction might be seen in base metal with a good jumping in copper and nickel. While lead, zinc and aluminum are moving up with a small correction.

In Asian market crude oil prices are roses on Friday, whereas on domestic market crude for May deliveries are trading flat on Saturday at positive side. Currently Movement In crude oil is good for medium long term and in upcoming day again we see a mark of 5000 in May.

Mentha oil is too near to crosses the level of 1000, but a week response in mentha form overseas market forcing to trade in the range of 960 to 999. But it seems that soon mentha oil give a chance to see the level of 1000 in coming trading session.

MCX cotton are playing an up down position in this month, currently MCX cotton for April delivery are trading on the range of 16450 to 18050. This week cotton was very volatile and high on movement and same form are expecting in upcoming weeks.

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