MCX gold silver tips | Live rates and mentha oil updates

Mentha oil for future delivery trading downside in early trade, on Wednesday morning it open at 927.80 bit high against its last close at 923.70 but fall in intraday due to lower support and touched a low of 917.20. But global support help mentha oil to move up and it touché a high of 931.40.

Gold importation is on record high to Asian market in mid of April and June. Gold import in second quarter around 350-400 tones in Asian market, while gold prices are sharply falling in Domestic market and government are trying to control the import rate. In Today trade gold price open at 26481 with a day high of 26515 and low of 26382 at MCX.  In evening some high trend is trend is excepting in bullion, today silver open at 43381, on intraday trade it touched a high of 43468 with a low of 43126.

Buy gold above 26500 tgt 26550, 26600, 26700………….sl 26300

Buy silver above 43400 tgt 43450, 43550, 43700…………sl 43100

Evening commodity gold|silver|copper|crude updates

Mcx

Bullion

Today Multi commodity exchange showing a mixed movement, in the early morning not a very high movement had seen in bullion.  Gold on spot market mostly traded on green side with a small sloppy movement. Today gold touch a upper limit of 29418 with a low of 29353. On MCX silver is looking on bearish side, no such high movement had seen on the morning session.  

Base metal

If we are moving on base metal all metal are open towards green side but as market continue it seen in red negative side. Today nickel opens on good side and on morning touch an intraday high of 910 with a low of 903.60. On MCX nickel losses its good movement this week and mostly time it had seen in red side.  Some positive may be expected in upcoming week. On the other hand copper are also trading on bearish side, copper have strong support level of 424 with a resistance of 429.

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Crude and Mentha oil 

Crude oil import of china has drop down by 9% y/y and in the first 2 month of 2013 it’s down by 1% as compare to its previous year.  Meanwhile its export is rose by 21.8 % year on year.  This will affect the domestic Asian market. On MCX crude oil were traded in down side and touch an intraday low of 4977 with a high of 4995.it is advice to hold the position on medium long term. Mentha oil prices are floating between 1225 and 1245. Today mentha oil mostly watched in wrong side with a low of 1232 and high of 1242.90 and expected more bearish on remaining session.  

Sell gold below 29360 tgt 29330, 29300, 29260…….sl 29460 

Sell silver below 54550 tgt 54500, 54400, 54300…………sl 54800

  

weekly mcx commodity news updates

BULLION

 In this week we see lots of up and down in the commodity market. In the starting of the week commodity goes a touch a new record of  the month but as day  goes  the commodity turn around to the another  direction. This week bullion is on the rock in the first 3 day but then market situation was changed and silver goes from 64000 to 61000 this week. Today on the MCX silver is trading on 61292 at 11.40 am. While the gold is also in the same situation today gold is trading on 31107 at 11.45 am goes 31 point high from its previous close.

CRUDE OIL

Meanwhile the other base metal is on situation of do or dies.  If we talking about crude the global situation affect it, while china has raised it import by 23%. In the report of IEA (International Energy Agency) stat that US will be the top oil producer by 2017, replacing the Saudi Arab and also US become the top Gas producer in the world by 2015. The economics growth of US wills going to enhance by this, US is still recovering from the great Recession.

CROP NEWS

Maize price in India has risen sharply in India in the November month, this year the Maize production is very low in the domestic market as well as global market. The demand of this crop is rising in the pot market. On the NCDEX Maize price were up by 0.6 percent at Rs 1506 per 100 kilogram at 14.14 IST on November, 30. Similarly barley price is also going high in the future trade due to lower production and  poor imports from major Barley producers like Russia and Ukraine. India is aiming to produce 1.5 million tons in the current session. In NCDEX barley price were up by 3.17 percent at Rs 1498 per 100 kilogram for January contract as of 16.45 IST on November 30.