commodity news and calls for today

Bullion

Due to depreciation in dollar price gold is showing a red sign, in the early trade on Tuesday morning. Dollar price is down by -0.15 against Indian rupees. The global gold price is also not in very strong position it is expected to trade between $1680-$1690. While on the MCX gold for February contract is traded low today, gold is expected to trade between 30550-31560. While the white metal is showing a good trend in the early trade it goes +180 point high to its previous close. Rupees position support the white metal and other base metal.

Crude oil

Today crude showing a strong position on the MCX, as we say earlier the crude is going to be eye catching this year. Crude oil is up by 28 point high from its last close for January contract at 10:36 am. The global crude position is going to be stronger this year. The crude in the Us is hold a good position.

Cotton

The movement in cotton is very volatile today ,currently cotton is moving with the red flag, but the  cotton have a strong support today 16700 and with a resistance of  16500.

Nickel  

Nickel has been a very worst performing metal in the last year in the domestic as well as global market. Nickel has fall 20% in the previous year but this year nickel made positive movement from the starting of the year. China demand is going to high in base metal and it provides a support for nickel and other base metals. Today nickel for January contract on the MCX is running with a positive green flag and up by 5.60 point high by its last trade.

Today  buy calls:-

Buy silver above 58100 tgt 58200, 58300,,58500,…….sl 57560

Buy nickel above 953.90 tgt 955 ,956., 958……sl 948

Buy crude oil above 5060 tgt 5070, 5080 …sl 5035

Today sell calls

Sell cotton below 16580 . tgt 16570, 16560 ,16550 …………..16640

Sell gold below 30840 tgt 30800, 30760………sl  31200

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Today's commodity bullion updates

After the Wednesday fall the bullion is trying to recover from its position. Now the December is going to start the last month of the year, the eyes on the commodity how it going this month. It is expected that in 2013 the commodity is on the top gear and we see a new record on this.  According to the German bank Industrial metal is going to strengthen in 2013. This year the demand of gold in the Indian Market is very poor due to the increase in Import duty and poor Manson season.  Today on the MCX Bullion is trading in the red side; Gold is open at 31500 from the previous close of 31579. Today gold is trading with a support level of 31122 and a resistance of 32036. It is advice to trader to hold the position and for intraday trader sell gold below 31450 and buy at 31800.Meanwhile today silver is open at 62882 its previous close is 63052. Today silver is trading between 62001 to 63550. Currently silver is also in the position to hold but for buy it is better to buy 63800 with a stop loss of 61800.

Today’s calls

Buy gold tgt 31525…31575+++……………..sl 30800

SELL silver tgt  62800…..62750……………62700…sl 63700

commodities market news

In the global market gold make a very consolidate position, this year gold climb day by day. India again retained their number 1 position in the gold consumption. Finance minister and the RBI say that the gold position creates a pressure on the country economy. High importation of gold from any country disturbs the economic position. The global output of has been around 4,000 tons per year. But India’s domestic consumption of gold has more than doubled to 1,000 tons annually since 1999, in spite of the fact that the white metal prices have been steadily rising.

In the global crude Europe account for 16% of world crude oil consumption which is almost half of the US and CHINA consumption together. On the India MCX crude oil for December delivery has climbed up by 0.39% in the previous close

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My personal opinion about bullion it that is goes more higher till the December and hold a good position in the market , Market is in good position to trade for commodities let’s see how far bullions breaks its previous records.  

mcx commodity trading tips

Today commodity market is moving with a slow movement, the entire commodity is trading is positive but the movement is very slow. Bullion market is very volatile today, silver price on MCX trading touch a high of 64133 with a day low of 63820.yesterday silver is closed at 63734,and its go 155 point high at 1.28 pm. While the yellow metal is breaking today not an enough move in the morning as compare to last week. Yesterday gold is closed at 32359 today its goes only 9 point high at 1.31 pm with a high of 32453. While talking about cotton market, Indian government not placed any ban for cotton export in this season of 2012-2013 according to the report of cotton advisory board (CAB). In the global market cotton price is decline due to the overstocking and lower global mill demand in the previous cotton season. On the MCX trading cotton is trading with positive sign with a rise of 50 point to its previous close. India cotton export is the highest in the 2011-2012 of 129 bales which is highest ever. Indian government increase the export duty on iron ore from 20% to 30%.the government has a proposal to ban export of iron ore according to the Indian Minister of mine.

Today’s calls:-

Buy cotton tgt 16260..16270……..16275………..sl 16230

Buy crude tgt 4930….4940….sl 4890

Buy silver tgt 63910…….63950…….64000……….sl 63400

today silver is going in the down position after the morning good jump. yellow metals also favoring the silver.silver current price is 63555 at   5.01 pm and is in buying position similarly  gold is also in the position to buy. while the base metal also not showing a good movement except cotton ,cotton is on the great position to buy.