MCX Commodity Bullion & Base Metals Trend

Gold MCX Trend

Gold prices witnessed gains of around 0.4 percent till 4.45pm IST on account of rise in risk aversion which boosted safe-haven demand for gold. Today in the evening session of the trade we have range of Economic data from the U.S. which is expected to show slight improvement, however any figure showing a weaker than expected reading would support the Precious Metals Complex.

Live MCX Updates

Prices touched an intraday low of $30.26/oz and were hovering around the same levels. Silver rose 0.6 percent on the MCX on account of Rupee depreciation and touched an intra-day high of Rs 52,424/kg till 4.45 pm IST today. Holdings at iShares Silver trust saw redemption of 22.71 tonnes yesterday while Gold/Silver ratio pointed to strong investment demand for the white metal in comparison to the yellow metal when the ratio fell to 53.2 from 54.02 the prior day.

Base Metal Trend

Copper Updates

LME Copper three month futures however rose yesterday to $7,177.25 per ton from $7,067.5 per ton the prior day on weaker greenback and also getting support from the supply side concerns from the strike at Peru’s Freeport –McMoRan Cerro Verde Copper mine. Copper Trade in down side at present.

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MCX Commodity Market data

MCX Market Data

Date	Time	Currency	Economic Data	Forecast	Previous
FRI 30TH SEP	6:00pm	USD	Core PCE Price Index m/m	0.2%	0.2%
	6:00pm	USD	Personal Spending m/m	0.2%	0.8%
	6:00pm	USD	Personal Income m/m	0.1%	0.3%
	7:15pm	USD	Chicago PMI	55.8	56.5
	7:25pm	USD	Revised UoM Consumer Sentiment	57.9	57.8
	7:25pm	USD	Revised UoM Inflation Expectations		3.7%

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Gold MCX, Live Silver & Copper Updates

Gold MCX Trend

Gold was on under pressure on last trading session. Gold touched an intraday low of $1597/oz and closed at $ 1607/oz yesterday. On the MCX, Gold October declined around 2 percent and touched an intra-day low of Rs 25,608/10 gms on Wednesday. In today upcomein gtrading session we expect that gold will trade to the level of 25650.

MCX silver Trend

Yesertay trading last hours were not good for silver silver decline in last moment on MCX. COMEX Silver Dec futures fell by 4.45 percent to $30.134 per troy ounce yesterday from $31.536 per troy ounce the prior day. From this level of trading silver can move towards of 50750+ level.

Copper updates

Copper continue goes down from last session & expected more down for uncoming trading, Copper was the top loser on Wednesday as the metal declined more than 7 percent on the LME and almost 6.5 percent on the MCX. COMEX Copper Dec futures fell sharply by 5.61 percent to $3.2465 per pound yesterday from $3.4395 per pound the prior day amid weak economic data from U.S. and on stronger greenback.

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MCX Commodity Live Data

Live MCX Commodity Data

Date	Time	Currency	Economic Data	Forecast	Previous
THU 29TH SEP	2:30am	USD	Fed Chairman Bernanke Speaks
	6:00pm	USD	Unemployment Claims	420K	423K
	6:00pm	USD	Final GDP q/q	1.2%	1.0%
	6:00pm	USD	Final GDP Price Index q/q	2.4%	2.4%
	7:30pm	USD	Pending Home Sales m/m	-1.7%	-1.3%
	8:00pm	USD	Natural Gas Storage	97B	89B

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Gold, Silver, Copper Updates for trading

MCX Gold Trend

After getting some correction gold again slip today, the yellow metal touched an intra-day high of $1676/oz and closed its trading session at $ 1649/oz yesterday. On the MCX, Gold October witnessed gains of around 2 percent and touched an intra-day high of Rs 26,677/10 gms on Tuesday. We not suggest for short term or intraday trading in gold.

MCX Silver Trend

Spot silver also rose sharply by 3.8 percent on Tuesday mainly taking cues from rise in gold prices coupled with upside in base metals.Additionally, dollar weakness also acted as a positive factor. Today in evening session silver trade in negative side, but we expect that it perform some correction after data.

MCX Copper updates

Copper show 2.95% decline on chart, it may trade for 362.10 level in next trading hour, We suggest for sell strategy in copper today at lower level.

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MCX Market Data Live

MCX Market Data

Date	Time	Currency	Economic Data	Forecast	Previous
WED 28TH SEP	6:00pm	USD	Core Durable Goods Orders m/m	0.1%	0.8%
	6:00pm	USD	Durable Goods Orders m/m	-0.2%	4.1%
	8:00pm	USD	Crude Oil Inventories	1.1M	-7.3M

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MCX Commodity Live

In MCX Commodity Crudoil may trade on 4080 & Coppper would trade for 379.40. Today in Bold Silver Profit can arise.

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MCX Commodity News - Bullion Trend, Copper Updates

Gold Trend
In MCX Gold recover his position, after falling in the $1500/oz range, prices recovered and closed Monday’s trade around 1.7 percent lower. On the MCX, Gold October contract declined almost 2 percent and touched an intra-day low of Rs 24,992/10 gms yesterday. Prices rebounded from a low of $1.535.0 per troy ounce on weaker greenback and also on bottom hunting as low prices gave investors entry point to again invest in this safe haven asset.

MCX Silver Trend

We here clearly seems that silver revover from its down trend, we expect that it may trade for 54400 level, investment demand brought some cheers yesterday after holdings at iShares Silver trust increased by 86.31 tonnes. Gold/Silver ratio scaled down to close at 53.08 yesterday after it touched a high of 60.68. The ratio was at 53.29 on Saturday.

Crude Oil Updates

In intraday we expect to continue the bullish momentum possibly towards 4130/4190 or even more later. Prices have to close below 3948 may cause doubts on our bullish expectations and take prices lower. Forecasts indicate crude oil inventories are expected to decrease by 0.2 million barrels in the w/e 23

rd September 2011. Distillates, which include heating oil and diesel, are expected to increase by 0.6 million barrels. Gasoline inventories are expected to increase by 1.2 million barrels in the same week.

MCX Copper Tips

LME three month futures closed at 7,240.5 per ton yesterday from $7,261.0 per ton on 23 rd Sept, 2011. Today in the evenings session of the trade we have U.S. Consumer Confidence and U.S. Richmond Fed Index. Any reading signaling improvement in the Economy would support the Base Metals Complex.

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Commodity MCX Bullion Trend, Crude oil updates

Gold Trend

Spot gold was last down 3.0 percent on the day at $1,621.49 an ounce by 0903 GMT, having fallen earlier by as much as 7.4 percent, putting the difference between the intraday high and low at $128.40, the largest daily price swing on record. The spot price was last down 4.9 percent at $29.54 an ounce, its lowest since last November.

MCX Gold Trend

In MCX Gold trading was peforming at 25800 after hitting the level(intraday) 25000, gold was let down. Spot gold in the world market was set for its biggest three-day loss in 28 years on Monday, as investors fled commodity markets in a scramble to secure cash in the face of mounting fear over the impact of a potential Greek debt default on the rest of the euro zone.

MCX Silver Trend

The main bloodbath was seen in the Silver complex and COMEX Silver Dec futures fell by 17.71 percent to $30.101 per troy ounce on 23 rd Sept, 2011 from $36.578 per troy ounce on 22nd Sept, 2011. On weekly basis Silver prices plunged by 26.28 percent.

Crude Oil Trend

Oil on seven weeks lower level, US crude lost USD 2.74 to reach a low of USD 77.11 per barrel, after rising more than a dollar earlier. It had recovered to trade around USD 78.70 by 0812 GMT, still down USD 1.15. NYMEX Crude oil futures extended their downfall on 23rd Sept, 2011 and fell by 0.82 percent to close at $79.85 per barrel yesterday from $80.51 per barrel the prior day.

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MCX Commodity News

Today MCX Commodity Trade in plus, all commodity segement trade in up trend. MCX Gold & Silver both were in bullish trend. Silver rise 2.65 % while gold 2.105 move for uptrend.

From this moment we cann't examine for next trading session for more trading scenario check our MCX Commodity levels. 

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MCX Tips - Gold Updates, Crude oil Trend

Gold MCX Trend

Gold decline 2.72% today with all other commodity. Trading sentiment remained bearish after gold declined for the third day in London, its biggest weekly drop since May as some investors sold the metal to cover losses in other assets.In national market gold fell by USD 19.60 to USD 1,720.30 an ounce, the lowest since August 25 in London.

Crude Oil updates

Over the fast few days crude has been under pressure, brent crude oil turned lower on Friday to hit a six-week low near USD 103 a barrel after an initial rally faded, on concern about the outlook for the economy and oil demand. On Thursday, Brent lost USD 4.87 to settle at USD 105.49 on concern demand will fall as weak economic data from China and Europe triggered fears of a recession. From now its not seems to gain in near trading session.

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Commodity Updates, Gold Silver Trend

Gold MCX Updates

Today gold with Commodities down, it trade in bearish trend. Gold Dec futures on COMEX fell by 0.06 percent to $1,808.1 per troy ounce from $1,809.1 per troy ounce the prior day. Such corrections don’t change the underlying outlook for the Gold and it should be bought at dips as the global problems will take time to end. Investments at SPDR Gold ETF remained unchanged yesterday. Today we have G-20 meeting in Washington where the Financial chiefs will discuss measures to address the Greek Sovereign debt crisis and stabilize global financial markets.

Silver Updates

COMEX Dec Silver futures on the other hand rose by 0.83 percent to $40.469 per troy ounce yesterday from $40.137 per troy ounce the prior day. We saw some resumption of 22.71 tonnes at the holdings at iShares Silver trust yesterday. Gold/Silver ratio scaled down to 44.47 yesterday from 45.26 the prior day.

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Commodity Data

MCX Data

Date	Time	Currency	Economic Data	Forecast	Previous
THU 22TH SEP	6:00pm	USD	Unemployment Claims	419K	428K
	7:30pm	USD	CB Leading Index m/m	0.2%	0.5%
	7:30pm	USD	OFHEO HPI m/m	0.0%	0.9%
	8:00pm	USD	Natural Gas Storage	91B	87B

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Commodity Updates - Gold, Silver, Copper Trend

Gold MCX Trend

Demand for gold also bounced back after the downgrade in Italy’s long-term credit rating by the Standard and Poor’s (S&P) to A from A-plus, indicating a weak economic scenario in the Euro region. Investors wait today for the U.S. FEDERAL statement to be released late night for further trading cues. Any indication for further monetary stimulus would be seen as bullish for the Precious Metals. We also have the U.S. FED rate decision in the after trade session in the night today as expected to remain flat.

Silver MCX Updates

Silver also closed in the green as prices took support from rising gold prices but sharp gains were capped as being an industrial metal it also took cues from movement in the base metals pack. Investment demand for the white metal saw redemption in holdings yesterday by 34.83 tonnes from the iShares Silver trust.

Copper Updates

The International Copper Study Group said the world copper market was in deficit by 130,000 tons during the first six months of the year. Supply fell short of demand by 286,000 tons during the same period in 2010. Copper prices came under pressure on Tuesday declined by more than 1 percent on the LME as macroeconomic concerns dominated market sentiments. Prices on the LME touched a 9 – ½ month low as poor global economic prospects led to worries over future demand for the metal.

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MCX Market Data

MCX Market Data

Date	Time	Currency	Economic Data	Forecast	Previous
WED 21TH SEP	7:30pm	USD	Existing Home Sales	4.76M	4.67M
	8:00pm	USD	Crude Oil Inventories	-1.6M	-6.7M
	11:45pm	USD	FOMC Statement
	11:45pm	USD	Federal Funds Rate	<0.25%	<0.25%

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Gold MCX Tips

Gold Buy at - 27790
Tgt - 27835, 27885
Sl - 27740

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MCX Silver tips

Silver Buy
At - 63830
Tgt - 63960, 64210
Sl - 63650

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MCX Market Data

Date	Time	Currency	Economic Data	Forecast	Previous
TUE 20TH SEP	6:00pm	USD	Building Permits	0.60M	0.60M
	6:00pm	USD	Housing Starts	0.59M	0.60M

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MCX, Gold Trend, Crude oil updates, Copper Trend

Gold Trend

COMEX Gold Dec futures rose by 1.87 percent to $1,814.7 per troy ounce on Friday from $1,781.4 per troy ounce made on 15 th Sept, 2011. Prices got support from the Euro Zone debt concerns of Greece going for a default. But while on evening session this weakness may hold in the region of 28000-27960 could be treated as an opportunity to enter rallies that could revisit recent highs. Intraday weakness only below 27950 towards 27700 firstly then to 27530. Major rallies only above 28400 other wise holds the same for pull back downside.

Crude Oil Updates

NYMEX Crude oil prices got weighed down on Friday as concerns of demand getting dented pressurized the prices. Futures fell by 1.61 percent to $87.96 per barrel on Friday from $89.40 per barrel on 15th Sept, 2011.

Copper

Futures closed down by 0.63 percent to close at $3.9200 per pound from $3.9450 per pound made on 15th Sept, 2011. A stronger greenback also put pressure on the metal but supply side concerns due to the ongoing crisis capped the losses.

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Free MCX Tips, MCX Commodity Tips

Silver Buy at - 64120
tgt - 64260, 64500
Sl - 63960

Gold MCX, Silver, Crude oil Trend

 - Gold heads for its biggest weekly drop since early 2009.

 - Base metals and crude oil up due to dollar weakness

MCX Silver Trend

Silver is expected to trade with a sideways bias mainly taking mixed cues from decline in gold prices, dollar weakness and upside in base metals. COMEX Silver Dec futures also ended in the pool of Red and fell by 2.55 percent to $39.501 per troy ounce yesterday from $40.533 per troy ounce the prior day. Investment demand for the white metal remained unchanged yesterday at iShares Silver trust.

Gold MCX Trend

Gold Dec Futures lost their safe haven appeal yesterday and fell by 2.47 percent to $1,781.4 per troy ounce from $1,826.5 per troy ounce the prior day. Such news favor the equity markets and prove to be negative for the Safe haven assets. In evening session US data effect the trend of MCX Gold.

Crude oil MCX Trend

We expect crude oil prices to trade with a positive note today mainly taking cues from positive sentiments in the markets along with dollar weakness.NYMEX Crude oil Oct futures surged by 0.55 percent to $89.40 per barrel from $88.81 per barrel yesterday.

Prices have been consolidating for the last couple of days. Going forward it seems to be forming a triangle in the range of 413-422 levels. Either the side break out would be required to suggest fresh directional moves later. However intraday we favour an initial dip followed by a recovery later.

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MCX Market Data

Date	Time	Currency	Economic Data	Forecast	Previous
FRI 16TH SEP	6:30pm	USD	TIC Long-Term Purchases	27.3B	3.7B
	7:25pm	USD	Prelim UoM Consumer Sentiment	56.4	55.7
	7:25pm	USD	Prelim UoM Inflation Expectations		3.5%

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MCX Commodity Live Updates

MCX Gold Trend

Investment demand for the yellow metals has still not showed any signs of renewal as holdings at SPDR Gold ETF remained unchanged yesterday. Today in the evening session of the trade we have U.S. Jobless Claims data which is expected to decline, hence would support the greenback. We also have the U.S. CPI data which is a measure for inflation and hence would affect the greenback. e MCX, Gold October contract traded lower by more than 1 percent on account of Rupee appreciation and touched an intra-day low of Rs27,842/10 gms.

MCX Copper Trend

Copper which is considered as a bellwether of the economy tumbled down yesterday even though stock markets rallied and greenback was weak. The RED Metal got pressurized on weak U.S. Retail Sales data and closed down by 1.79 percent to $3.885 per pound yesterday from $3.9560 per pound the prior day.

The base metals complex traded higher on the LME in today’s trading session mainly on account of dollar weakness coupled with rise in risk appetite in the markets globally. Nickel was the top performer of the day as the metal rose 2 percent on the LME and around 1.4 percent in the MCX today.

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Live MCX Market Data

MCX Market Data, Live MCX

Date	Time	Currency	Economic Data	Forecast	Previous
THU 15TH SEP	6:00pm	USD	Core CPI m/m	0.2%	0.2%
	6:00pm	USD	Unemployment Claims	410K	414K
	6:00pm	USD	CPI m/m	0.3%	0.5%
	6:00pm	USD	Current Account	-122B	-119B
	6:00pm	USD	Empire State Manufacturing Index	-3.9	-7.7
	6:45pm	USD	Capacity Utilization Rate	77.5%	77.5%
	6:45pm	USD	Industrial Production m/m	0.1%	0.9%
	7:30pm	USD	Philly Fed Manufacturing Index	-14.7	-30.7
	8:00pm	USD	Natural Gas Storage	85B	64B
	11:15pm	USD	FOMC Member Tarullo Speaks

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Bullion & Base Metals Trend

MCX Commodity Trend

Gold Trend

Investment demand for the yellow metal still showed no signs of reversal as holdings at SPDR Gold ETF showed 0.61 tonnes of redemption yesterday. Spot Gold prices fell reversing the gains made earlier today on downgrade of French banks. Credit rating agency Moody’s downgraded top two banks of France by a notch.

Silver Trend

Investment demand for the white metal at iShares Silver trust remained muted yesterday as the holdings remained unchanged.Silver is expected to trade with a sideways bias today as it will take mixed cues from a stronger dollar, downside in base metals and choppy sentiments in the global equity markets.

Crudeoil Updates

Crude oil inventories declined 5.05 million barrels to 344.2 million last week, the American Petroleum Institute said. Gasoline stockpiles rose 2.76 million barrels to 212.7 million, the report showed while inventories of distillates, including heating oil and diesel, rose 67,000 barrels. Demand growth for 2012 is estimated to decline by 1,90,000 bpd to 1.42 million bpd. IEA is forecasting that world oil  onsumption will increase more slowly than expectations this year as well as the next year. The OPEC and the US department of energy both have also cut their forecasts for global oil demand growth this month. As per the IEA report OPEC oil production increased 1,65,000 bpd in August as against 30.26 million bpd in July.

Copper updates

In the evening session of the trade we have U.S. Retail Sales and Business inventory data which if comes better than expected then would support the Base Metals Complex. The sell off seen so far during the day may not continue unless trades below 413 convincingly. For the day initial dips likely to find

support near 416-14 regions and turn higher later. However broad picture requires a close above 424 for bigger rallies.

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MCX Market Data

MCX Market Data

Date	Time	Currency	Economic Data	Forecast	Previous
WED 14TH SEP	6:00pm	USD	Core Retail Sales m/m	0.2%	0.5%
	6:00pm	USD	PPI m/m	-0.1%	0.2%
	6:00pm	USD	Retail Sales m/m	0.2%	0.5%
	6:00pm	USD	Core PPI m/m	0.3%	0.4%
	6:00pm	USD	Treasury Sec Geithner Speaks
	7:30pm	USD	Business Inventories m/m	0.4%	0.3%
	8:00pm	USD	Crude Oil Inventories		-4.0M

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MCX Commodity Updates

Gold Tips

Today in evening session bullion may rise form the iampact of US. In absence of liquidity amid sharp decline in the European Markets coupled with strong U.S. Dollar, investors reduced their Precious Metals holdings yesterday and the selling made the COMEX Gold Oct futures end the day at $1,810.6 per troy ounce, down 2.5 percent from $1,857.1 per troy ounce made on 9 th Sept, 2011. A rise in the data would support the Precious Metals Complex.

Silver Tips

Spot silver declined almost 3 percent in yesterday’s trading session mainly taking cues from fall in gold prices coupled with a stronger dollar. We expect silver trade higher in today trading session.

Crude Oil Updates

Its expected that crude to trade higher in todat session. NYMEX Crude oil futures which were pressurized in the early session recovered after making a low of $85 and ended the day at 1.09 percent gain to $88.19 per barrel from $87.24 per barrel the prior day. Rebound in the Euro towards the later session of the trade boosted the sentiment and also weighed down on the dollar.

Copper Updates

With Bullion in base metal copper also trade with bullish trend, Copper three month futures on LME also ended down by 0.77 percent to $8,766 per ton from $8,834 per ton the prior day.

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MCX Market Data

MCX Market Data

Date	Time	Currency	Economic Data	Forecast	Previous
TUE 13TH SEP	1:30am	USD	FOMC Member Fisher Speaks
	6:00pm	USD	Import Prices m/m	-0.7%	0.3%
	7:30pm	USD	IBD/TIPP Economic Optimism		35.8
	11:30pm	USD	Federal Budget Balance	-126.5B	-129.4B

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Live MCX Commodity Updates

Gold Trend

Gold rose more than 1 percent on account of Rupee depreciation. Gold hit record high of Rs 28,744/10 gms and ended its trading session at Rs28,200/10 gms last week. Holdings in the SPDR Gold Trust, world’s largest gold-backed exchange-tradedfund (ETF), rose 0.8 percent to 1241.92 tonnes till 9th September from the previous level of 1232.31 on 2nd September 2011.

Silver Trend

We except silver trade in pressure today,even though the day’s bias may remain choppy, breaks below 64400 would rejuvenate selling pressure towards 64000/62800 levels. On the higher side prices would be needed to close above 66000 to edge higher towards 67700 where the upper daily Ballinger band resistance is placed.

Crudeoil Updates

Dips to 4020-4000 are likely to invite bargain hunting that could lift prices towards 4090/4120 levels, which we favoured initially. However, it would be required to trade consistently above 4150 to continue further upside. A direct dip below 3990 would be an early signal of selling pressure till 3960/3920 levels.

Copper Trend

Copper Shanghai weekly Inventory rose sharply by 5.1 percent to 113,300 tonnes last week which acted as a negative factor for prices. On the MCX, copper declined 0.9 percent and touched a low of Rs 411.80/kg last week. Prices have cleared the rising trend line support of 414-412.50 regions in the early session. While prices stay below the same expect to continue the sell off towards 407/404, which we favour for the day. However an unexpected turn higher above 414 would be a signal of recovery, but unlikely for major short covering rallies later.

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Live MCX Data

Live MCX Data

FRI 9TH SEP	12:30am	USD	Consumer Credit m/m	6.3B	15.5B
	4:30am	USD	President Obama Speaks
	Day 1	USD	G7 Meetings
	7:30pm	USD	Wholesale Inventories m/m	0.8%	0.6%

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MCX Commodity Updates

MCX Gold Trend

Investment demand for the yellow metal at SPDR Gold ETF remained muted yesterday as gold holdings were unchanged. Today in the evening session of the trade we have U.S. Jobless Claims which are expected to decline and hence would pressurize the Precious Metals while we also have the U.S. Trade Deficit data which is also expected to narrow, hence would support the greenback.

Silver Trend

Silver seems bullish for today trading session.For intraday we expect prices may swing higher initially but that initiative may hang up in the region of 65500 for a slowdown and may trigger a corrective selling towards 64600/64100 and later towards 63600/62800. Conversely successful trade attempts above 65700 region may find resistance at 66600 firstly and then 67000.

Copper Trend

Though the uptrend looks shaky, extended possibilities of the same would be alive as long as dips as held above 419/417. Meanwhile, 425 is expected to prompt some profit booking, but a sustained buying interest past the same should call for 429. Copper rose around 1.7 percent on the LME mainly on the back of supply fears in Freeport McMoRan Copper & Gold's Grasberg, the third-biggest copper mine in Indonesia and Cerro Verde, third largest copper mine in Peru.

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MCX Data

Date	Time	Currency	Economic Data	Forecast	Previous
THU 8TH SEP	6:00pm	USD	Trade Balance	-50.3B	-53.1B
	6:00pm	USD	Unemployment Claims	409K	409K
	8:00pm	USD	Natural Gas Storage		55B
	8:30pm	USD	Crude Oil Inventories	-2.9M	5.3M

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MCX Commodity Updates

MCX Bullion Trend

Gold Trend

Investment demand remained muted yesterday at SPDR Gold ETF as no addition was seen in the gold holdings. Today no major economic data is scheduled to release and hence the technical selling would continue to be seen on the counter, however the dips would be seen as a buying opportunity by the investors to invest again in this remarkable metal. Gold prices came under pressure and declined more than 1 percent as dollar strength led to downside pressure in the yellow metal.

Silver Trend

Investment demand was muted yesterday at the iShares Silver trust with no change in the holdings seen in silver. Gold/Silver ratio made a high of 45.64 before closing down to 44.81 from 44.32 the prior day pointing that Gold has more investment appeal than silver. Taking cues from fall in gold coupled with strength in the dollar spot silver declined sharply by 2.3 percent on Tuesday. Silver being an industrial metal also took cues from downside in base metals and declined further. The white metal touched an intraday low of $41.51/oz and closed at $41.93/oz. On the MCX, silver December contract rose 0.3 percent on account of Rupee depreciation and touched an intra-day high of Rs66,893/kg yesterday.

Base Metal Updates

Crudeoil Updates

NYMEX Crude oil Oct futures fell for a second day on worries that the euro zone debt crisis could stifle world economic growth. Futures ended 0.5 percent down yesterday to $86.02 per barrel from $86.45 per barrel on 2 nd Sept, 2011 and also got weighed down by a stronger U.S.Today the American Petroleum Institute (API) is expected to release its weekly inventory report today. Forecasts indicate crude oil inventories are expected to decrease by 1.9 million barrels in the w/e 2nd September 2011.

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Live MCX Data

MCX Data

Date	Time	Currency	Economic Data	Forecast	Previous
WED 7TH SEP	8:45pm	USD	FOMC Member Evans Speaks
	11:30pm	USD	Beige Book

Live MCX

• GOLD FALLS FROM RECORD AFTER SWISS PEG FRANC.
• CRUDE OIL EXTENDS DROP ON SIGNS OF SLOWING U.S. ECONOMY, RISING STOCKPILES.
• COPPER IN LONDON DROPS FOR A FOURTH DAY ON CONCERN GLOBAL GROWTH TO SLOW.
• DOMESTIC OIL AND OILSEED TRADE BEARISH.

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Daily MCX Commodity Updates

MCX Gold Trend

Sales of gold and silver American Eagle coins were at their highest since January in August, meanwhile, data from the U.S. Mint showed. The Mint sold 112,000 ounces of gold coins and 3.68 million ounces of silver coins last month. Gold futures edged higher in electronic trading Tuesday, as European sovereigndebt woes and global growth concerns boosted the metal’s safe-haven appeal. Spot Gold is currently trading at $1912, it is up by $10 for the day

Silver Trend

Spot Silver prices however took some breathing and fell by 0.83 percent to $42.84 per troy ounce yesterday from $43.2 per troy ounce the prior day. Gold/Silver ratio surged yesterday to 44.32 from 43.57 on 3rd Sept, 2011 pointing to the investment strength in Gold

On the back of growing European economic worries and waning risk appetite, we expect gold prices to trade higher despite dollar strength. But silver on the other hand is expected to witness downside pressure on account of base metals which are trading lower as demand concerns rise on rising economic uncertainty.

Crude Oil Trend

Shut crude oil production in the U.S.-regulated areas of the Gulf of Mexico increased by 1.2 percent on Monday after Tropical Storm Lee dissipated over the southeastern United States, the U.S. government said. On the MCX, crude oil September contract declined around 3 percent and touched an intra-day low of Rs3843/bbl on Monday.

Copper Trend

Copper, leader of the base metals declined almost 1.5 percent on Monday mainly on the back of demand concerns due to global economic growth worries. The 4 hourly price chart shows that prices have witnessed a breakdown from the rising trend line support. Today in the afternoon session of the trade we have Euro Zone GDP data and also the Germany Factory orders which if come better than expected then would support the Euro and will also be positive for the Base Metals. The MACD has also moved below the zero line in sell mode which is bearish. We expect prices to see further declines to test 405 levels in the short term.

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MCX Commodity - Gold, Silver, Crude Oil Updates

MCX Updates 

Dow Jones and NASDAQ suffered another setback and fell by 2.2 percent and 2.58 percent respectively on 2nd Sept, 2011 with the blow coming this time from the dismal US Payrolls data which showed that the job market stagnated in Aug, 2011 when total payrolls remained unchanged at 131.132 million the same as in prior month when analyst’s forecasted a rise by 75,000 from a downwardly revised 85,000 in Jul, 2011.

Gold Trend

Investment demand at SPDR Gold ETF remained unchanged on Friday which showed that investors remained reluctant to add to the  investment in the yellow metal. Update on the open positions for the Non Commercial traders showed that Net longs declined by 18.71 percent in COMEX Gold futures while for Silver futures they surged by 1.03 percent for the period 23rd 30th Aug, 2011 signaling that Silver remained the preferred investment choice among the investors. The upside in prices also indicates that investors are cautious and would prefer to hold on to safer investment assets while enjoying the rally in riskier and higher yielding investment assets. Spot Gold prices rose 3 percent in the last week, but prices remained volatile on account of stable risk

sentiments.

Silver Trend

The weak data from US prompted led the holdings at iShares Silver trust increase by 35.35 tonnes on Friday. Gold/Silver ratio edged down to 43.36 on Friday from 43.93 the prior day conTaking cues from rise in gold, spot silver prices surged 3.7 percent in the last week. Strength in the dollar  failed to deter gains in silver. The white metal touched a high of $43.36/oz and ended its trading session at $43.20/oz. On the MCX, silver December contract rose almost 3.5 percent and touched a high of Rs64,354/kg last week.

Crude Oil Trend

Due to tropical storm Lee, about more than half of US crude oil production was shut in the Gulf of Mexico in on 4th September as delayed to restart oil and gas platforms in the basin. The Gulf  of Mexico  accounts for 27 percent of the country's oil production and about 8 percent of US natural gas production.

This supply disruption would act as a positive factor for the oil prices in the coming trading sessions. Tropical Storm Lee made landfall Sunday, flooding parts of the U.S. Gulf Coast, while Typhoon Talas wreaked havoc in western Japan and Hurricane Katia gained strength in the Atlantic Ocean.

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MCX Silver Trend for Next week

MCX Silver

FUNDAMENTALS

On the New York Mercantile Exchange, Crude for October delivery settled at $86.45 a barrel, falling $2.48, or 2.79 percent, after trading from $85.42 to $88.99. For the week, front-month Crude raised $1.08, or 1.27 percent, from the $85.37 close on Aug. 26 and extended gains to a second straight week.

UPCOMING DATA/EVENTS

New York energy, metal and commodity markets will be closed on Monday in observance of the U.S. Labor Day holiday. On Monday, CME Globex trading halts at 1:15 p.m. EDT (1715 GMT), with

order entry, modification and cancellation allowed, and will restart at 6 p.m. EDT, continuing through the regular close on Tuesday Sept. 6.

All reports you can get from our bullion tips page

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MCX - Bullion & Base Metals Trend

MCX Data

Jobless Claims in US declined by 12,000 for the week ended 27 th August, 2011 giving some ray of hope ahead the US Payroll data

MCX Live Updates

Investment activity remained muted for Silver at iShares Silver trust as holdings remained unchanged for the third day while Gold/Silver ratio edged slightly down to 43.93 from 43.95 the prior day there by showing the slight strength which silver enjoyed yesterday in comparison to gold.

gold and silver prices to witness upside today mainly on the back of re-emergence of global economic worries coupled with Euro Zone debt worries which would fuel safe-haven demand for the bullion. However, dollar strength may cap sharp rise in the metal prices.

Base Metal Trend

Copper trend

Workers at Freeport - McMoRan Copper & Gold's Grasberg mine in Indonesia plan to stage a strike after talks with the company failed to resolve a pay dispute,

in a move that could tighten global copper supplies and lift prices.

CrudeOil Trend

On the MCX, crude oil prices rose around 0.3 percent and touched an intra-day high of Rs4127/bbl on Thursday. We expect crude oil prices to trade lower today mainly on account of dollar strength along with rise in risk aversion in the markets globally.

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