today gold silver news

Today the bullion fall with a huge point, today white metal down by more than 1000 point, at 2:13 pm silver is trading on 62274, 950 point down by its previous close. Today on the MCX there is a long drop in the market. While the yellow metal is down by 204 point from its last close at 2:16 pm. Today gold is trading in the range of 30800-31500. It is advised to gold trader to hold a long position in the February contract. Silver is trading with a range of 63000-61800 with a stop loss of 61500 and target of 63450, hold our position.

Due to strong rupees against bullion, bullion not controls the position and fall by a huge point. In the December month this is a very large fall, gold is trying to consolidate the position but rupees pulling is leg again and again. Meanwhile the cotton is going in the good position to trade; it goes 70 point high at 2:30 pm. In the global market silver is pertaining in the bounce back situation. The upcoming year is for the commodity, and we soon feel that from the staring of the year.

Today calls:-

Buy gold tgt 31200,,31300….sl 31000

Sell cotton tgt 16640…16625………sl 16710

Buy silver tgt  62500….62700……sl 61190

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Bearish gold silver commodity news

Today commodity is showing a red dark sign In the market, on the MCX there is a deep Sharp fall in all the commodity. In the domestic market this is the first time in this week when there is deep fall on the MCX. Today bullion break the back bone of the MCX by downing more then 800+ point combined, silver goes -600 point to its previous close while gold goes -250 point. Today the support for gold is31500 and resistance is 32471; similarly silver has a support level of 62250 and a resistance of 63580 for the December contract. This is the same situation on the crude oil but there is not too much fallen. Meanwhile in the global market base metal is also closed at lower side this is due to strengthen in the dollar price yesterday session.

Today Mentha oil has a good support level and is the top commodity that’s trading with a green sign. Mentha oil is going 22.90 point high at 1.54 pm on the MCX 30 November contract. Today there is a very high risk to trade in the market. The position is very unstable in the base metal and the market is looking to go more with red sign today. 

Today’s MCX calls:-

Sell silver tgt  62300….62350……………

Buy menthaoil tgt 1375….1380………..sl 1350..

Buy gold tgt 31650….31700..

                                                                                                                                               

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.