Friday, August 16, 2013

16/08/13 MCX tips: Today commodity overview | MCX gold silver bullish on evening trading and intraday gold , silver tips for today

Today on friday morning a huge correction had seen on gold and silver prices. Gold for future delivery at MCX up by more than 3.50% and crosses the mark of 30,000 per 10 gram. Whereas ,Today global gold prices also rose by 0.50 % to $ 1372.97 an ounce in singapore. Similar trend in also seen in silver price for future delivery which today climbed up by more than 7% and touch an intraday high for September delivery to 50219.

In base metal , today MCX copper for future active delivery open at 451.90 and touch and intraday high of 464 by rose 2.16% at MCX. In coming session more increment are looking in copper prices due to support from overseas and domestic market. Similarly nickel prices rose up by 1.33% and touch an intraday high of 927.70. on intraday trading Mcx lead and zinc also made a sharp correction on friday morning lead up by 1.81% to 138.80 and zinc up by 2.16% to 121.60 at MCX.

Energies commodity at MCX also make a good rally on intraday trading. Today crude oil prices up by 1.59% and touch an intraday high of 6677. on domestic market due to increment in crude oil prices Petrol prices alo looking in higher bit. Mentha oil also supporting a bullish trend at MCX and make a intraday high of 865. However natural gas for future delivery made a high of 213.30.


for long term investor this is a good time to book profit in bullion for gold wait 33000-38000 while in silver wait for 54000-56000 in coming session.

BUY GOLD OCT ABOVE 30100 TGT 30170, 30280, 30400 STOPLOSS 29800

BUY SILVER SEP ABOVE 49150 TGT 49300, 49400, 49600 STOPLOSS 48700

SELL CRUDE OIL AUG BELOW 6630 TGT 6620, 6600, 6570 STOPLOSS 6690



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