Commodity Live Updates, Bullion trend

MCX Data

Positive economic data from U.S. allayed the global economic concerns while the Italian Bond sales showed mixed data.

Chinese Manufacturing activity contracted for the second month in December, 2011 fuelling speculation that a reserve requirement cut is expected to be seen soon.

Gold MCX Trend

Gold again climbed after heavy down trend & from this level it seems bullish if it will touch 27260, overall trend is bullish. Because of data gold show posstive basis. The drastic decline in the Precious Metals Complex continued yesterday amid stronger greenback and mixed Italian Bond Sales which failed to meet the set target though the yields declined. Today the data release early morning showed manufacturing contraction in China, the world’s second largest economy and hence could be negative for the market and hence pressurize the Precious Metals.

Silver MCX Trend

Data supported silver & it again bounce backed from the last level of 49150. In COMEX Silver Mar futures on the other hand were moved by the industrial demand for the metal and closed the day on a higher note when they pared their declines and surged by 0.30 percent to $27.315 per troy ounce from $27.234 per troy ounce the prior day. Holdings at iShares Silver trust also remained unchanged yesterday. MCX Silver looking good for buying from the level of 51550+.

Crude Updates

U.S. Crude oil stocks increased unexpectedly by 3.9 million barrels to 327.5 million barrels when analysts expected a decline of 2.3 million barrels for the week ended 23rd Dec, 2011 from 323.6 million barrels in the prior week. Crude intraday trend is looking bullish & we ecpect more correction in crude.

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Live MCX Commodity Updates

All Commodity fall down, no positive support seems in near future. Gold Seems down for intraday & near future terms, while silver also go down. From this level silver has support of 48150 & next support is 47500 while it has resistance of 49450 & 50200. This trend can continue for some more days.

In Base Metal copper is bearish for intraday terms & it can be consolidate for some future session. Untill copeer breaks 403 level, it can not succeed for its previous level of 410+.

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MCX Commodity Market data

Live MCX Market Updates
GOLD EDGES DOWN AS EUROPE DEBT WORRIES PERSIST.
OIL UP AS U.S ISTOCKPILES DECLINE MOST IN A DECADE.
COPPER UP WITH EURO IN ECB TENDER REACTION.
DOMESTIC OIL AND OILSEED TRADE LOW ON GLOBAL CUES.

Date	Time	Currency	Economic Data	Forecast	Previous
FRI 23RD DEC	7:00pm	USD	Core Durable Goods Orders m/m	0.5%	1.1%
	7:00pm	USD	Core PCE Price Index m/m	0.1%	0.1%
	7:00pm	USD	Durable Goods Orders m/m	2.2%	-0.5%
	7:00pm	USD	Personal Spending m/m	0.3%	0.1%
	7:00pm	USD	Personal Income m/m	0.3%	0.4%
	8:30pm	USD	New Home Sales	314K	307K

 
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Commodity Gold, Silver, Crude Updates

Gold Updates

Investment demand for the yellow metal remained unchanged yesterday at SPDR Gold ETF. Ireland’s European benefactors should take steps to create a firewall around the nation, as its prospects remain “fragile” amid the escalating euro-region debt crisis, the International Monetary Fund said yesterday. The crisis may hamper Irish economic growth, increase the cost of re-entering bond markets and make it harder for the country’s banks to sell off assets.

Silver Updates

COMEX Silver Mar futures also surged along with Gold futures and surged sharply by 2.29 percent to $29.536 per troy ounce from $28.874 per troy ounce. Investment demand for the white metal at iShares Silver Trust also remained unchanged yesterday. Silver is very consolidate in current session, no major support for this.

Crude Updates

Data release early morning today showed that U.S. American Petroleum Institute said crude inventories declined 4.57 million barrels to 330 million barrels for the week ended 16th Dec, 2011 to the lowest level in almost two years. Imports of liquefied natural gas jumped 21 percent to their second highest ever

however, as gas fired power generation plugged the gap left by the shutdown of most nuclear reactors after the March earthquake.

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MCX Market Data

MCX Market Data

Date	Time	Currency	Economic Data	Forecast	Previous
THU 22ND DEC	7:00pm	USD	Unemployment Claims	376K	366K
	7:00pm	USD	Final GDP q/q	2.0%	2.0%
	7:00pm	USD	Final GDP Price Index q/q	2.5%	2.5%
	8:25pm	USD	Revised UoM Consumer Sentiment	68.1	67.7
	8:25pm	USD	Revised UoM Inflation Expectations		3.1%
	8:30pm	USD	CB Leading Index m/m	0.3%	0.9%
	8:30pm	USD	OFHEO HPI m/m	0.3%	0.9%
	9:00pm	USD	Natural Gas Storage	-103B	-102B

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MCX Gold Silver Tips

Gold MCX Buy At - 28890

for the target of 28920 & 28960 for 2 days.

Here Stop loss is 28855 fir the same day.

Silver is good for BTST today. It can be buy at the time of market closing. Tomorrow it would be touch 54200 level.

MCX Bullion, Copper Updates

Bullion Trend

Spot gold prices declined around 0.4 percent on Monday while prices on the Comex traded on a flat note. However, dollar weakness cushioned sharp fall in the yellow metal prices yesterday. Today gold shows marginally uptrend from the lower level of 27700. Gold seems bullish from the level of 27900. While Silver is also in good phase from the level of 53100 & in silver we can not more predict, it will be voletile form this level.

Copper Updates

On the MCX, Copper February contract declined marginally by 0.1 percent as further fall was not witnessed due to Rupee depreciation on Monday. Copper is still on its 392 level & no more changes seems in copper form this level. we suggest that in copper we can make a buying position 393.15 for 4-5 days with the target of 396 to 399.

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MCX Gold Live Updates

Gold MCX Updates

Gold fell by R10 to R27,830 per 10 gm, while silver shed R350 to R52,650 per kg in the bullion market on Monday on reduced offtake at existing higher levels amid a weakening global trend. Traders said sentiment turned bearish after gold declined by 1% to $1,583.57 an ounce and silver lost 3.4% to $28.72 an ounce in Singapore, on concerns that Europe’s sovereign-debt crisis may be worsening.

Key Points

-Comex February gold up $2.30, or 0.1%, at $1,600.20 a troy ounce

-Gold prices draw strength from a steady euro which trades above $1.30 despite pressure

-Thin pre-holiday trading volumes add to gold's strength

-Kim Jong Il's death draws attention away from euro zone's debt problems

Gold advanced back above the psychological threshold of $1,600 a troy ounce as investors saw a steadier euro and as trading volumes eased ahead of the upcoming seasonal holidays. The most actively traded contract, for February delivery, was recently up $2.30, or 0.1%, at $1,600.20 a troy ounce on the Comex division of the New York Mercantile Exchange.

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Gold For Next Week

A weakening dollar and short covering drove investors back into Gold on Friday, lifting prices to end a sharp four-session pullback that still yielded the biggest weekly decline in almost three months. Spot Gold rallied as much as 1.7 percent to $1,600.49 per ounce, and steadied at $1,596.40 up from a near 3-month low at 1,560.36 hit in the previous session. U.S. Gold rose 1.31 percent to close at $1,597.90 per ounce, after hitting a high at $1,598.10 per ounce. A slightly weaker dollar against a basket of currencies also helped boost precious metal prices. A softer U.S. currency makes dollar-priced commodities, such as Gold, more affordable for holders of other currencies. For the week, bullion lost around 6.60 percent, its biggest fall since late September. It remains vulnerable to a deepening euro zone debt crisis and rising funding stress. The need for cash has overwhelmed Gold's traditional tatus as a safe haven in the past few months, putting the metal on course for its first quarterly fall since end-September 2008 when the global credit crunch was at its worst. Gold has, therefore, benefited recently from developments that have reduced risk aversion and the flight to cash. It got a boost after Spain attracted solid demand for its bonds on Thursday, helping to ease concerns the country could be among the next to fall in the euro zone's debt crisis.

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Gold, Silver & Crude Updates

Gold Updates

Spot Gold prices fell 3.5 percent yesterday, the MCX Gold Futures February contract declined 2.4 percent, taking supporting from the fall in the Rupee. Investment demand for the yellow metal at SPDR Gold ETF showed some resistance from the fall as holdings remained unchanged yesterday. Today we have a range of data coming from both sides of the Atlantic with major emphasis being on the U.S. Jobless Claims, U.S. Net long term purchased of the securities and U.S. Current Account Deficit.

Silver Updates

The investment demand for the white metal at iShares Silver trust remained unchanged yesterday while Gold/Silver ratio rose to 54.8 from 53.15 indicating investment strength in Gold being more compared to silver. Silver prices in the international markets have taken a beating as the commodity fell below the crucial $30/oz, losing 6 percent in intra-day trade. Prices on the MCX however, slipped only 4 percent on account of Rupee weakness which protected further downside.

Crude Updates

Crude oil Stockpiles fell 1.93 million barrels to 334.2 million for the week ended 9th Dec, 2011 from 336.0 million barrels in the prior week. Gasoline supplies increased 3.82 million barrels to 218.8 million, the highest level since March. For intraday level crude is down side while for long term it seems on uptrend.

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Why commodity are falling?

Why Gold dropped

Gold steadied on Wednesday, after having neared two-month lows the day before in its largest monthly slide since September, prompted by the dollar's rise against the euro to 11-month highs as the European debt crisis roars on. Spot gold was last quoted unchanged on the day at $1,630.89 an ounce by 1111 GMT, set for a 4.2 percent fall this week, its largest weekly slide in nearly three months. Gold has lost about 8.0 percent in value so far this month, on course for its weakest December performance since 2008 and its third-largest monthly sell-off in three years, the point at which the global credit crunch was at its worst.

Gold dropped below $1,600 a troy ounce as the euro's slide below $1.30 renewed fears of a liquidity crunch in Europe, prompting a shift to cash. Gold traders took their cues from the euro, which slumped below a psychological threshhold for the first time in 11 months, stoking worries that Europe's economy and financial system are in far worse shape than previously thought. Gold for February delivery was recently down $73.20, or 4.4%, at $1,589.90 a troy ounce on the Comex division of the New York Mercantile Exchange, the first time the most-active contract has traded below $1,600 since Oct. 5. Gold's declines accelerated after prices slid below the 200-day moving average, which triggered automatic selling for some investors.

Why Silver dropperd

Silver prices tumbled 6% and gold retreated Wednesday as investors rushed to cash in their holdings amid continued disappointment that the Federal Reserve refrained from a third fiscal stimulus and worries about a weaker euro. A sharply weaker euro, which broke below the $1.30 for the first time since January, added to negative pressure on precious metals prices. Gold and silver are both priced in dollars and their allure is dulled by a stronger greenback, which makes these assets seem more expensive to buyers who use other currencies.

Europe's ongoing sovereign debt crisis continues to be a downbeat influence on precious metals prices as worries about a cash crunch eclipse investors' desire for a store of value asset. From August through December U.S. Silver drilled 21,433 feet of core in 46 diamond drill holes underground at the Coeur and Galena mines. Shares Silver ETF (SLV) was falling some 5% as the dollar rose to 11-month highs against the euro.

MCX Market Data

Date	Time	Currency	Economic Data	Forecast	Previous
THU 15TH DEC	7:00pm	USD	PPI m/m	0.3%	- 0.3%
	7:00pm	USD	Unemployment Claims	389K	381K
	7:00pm	USD	Core PPI m/m	0.2%	0.0%
	7:00pm	USD	Current Account	-108B	-118B
	7:00pm	USD	Empire State Manufacturing Index	3.1	0.6
	7:30pm	USD	TIC Long-Term Purchases	53.4B	68.6B
	7:45pm	USD	Capacity Utilization Rate	77.9%	77.8%
	7:45pm	USD	Industrial Production m/m	0.3%	0.7%
	8:30pm	USD	Philly Fed Manufacturing Index	5.1	3.6
	9:00pm	USD	Natural Gas Storage	-89B	-20B

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Daily MCX India Commodity Updates

Silver MCX Trend

Bullion is in under pressure, silver trade on down side. Holdings at iShares Silver trust remained unchanged yesterday while Gold/Silver ratio made a low of 51.7 yesterday before closing at 53.15 from 53.61 the prior day indicating that silver is gaining investment strength against the yellow metal. Silver prices on the other hand declined by 0.5 percent in the international markets and Spot Silver prices are currently hovering around $30.57/oz.

Gold MCX Trend

Strong dollar impact clearly seems on gold, today in the evening session of the trade we have U.S. Import Price changes and a higher than expected reading would point to inflationary pressure and would support the Gold Prices, however the main focus for today would be on the Italian Bond Sales. Spot Gold prices came under pressure today and slipped to a low of $1622/oz till 4.30pm IST as dollar strength weighed on the commodity. Prices on the MCX however slipped almost 1percent as gold prices in major metro cities in India declined.

Crude Updates

U.S. Crude oil inventories rose 462,000 barrels to 334.6 million for the week ended 9th Dec, 2011 compared to the prior week, the American Petroleum Institute said today early morning. Investors will also eye comments by OPEC ministers gathering in Vienna policy meeting. The US Energy Department (EIA) is scheduled to release it weekly inventories report tonight and crude oil inventories is expected to decline by 2.5 million barrels for the week ending on 9th December 2011.

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Commodity MCX Data

MCX Market Data

Date	Time	Currency	Economic Data	Forecast	Previous
WED 14TH DEC	12:45am	USD	FOMC Statement
	12:45am	USD	Federal Funds Rate	<0.25%	<0.25%
	All Day	USD	OPEC Meetings
	7:00pm	USD	Import Prices m/m	1.0%	-0.6%
	9:00pm	USD	Crude Oil Inventories	-2.2M	1.3M

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Copper Updates with Gold & Silver Trend

MCX India Gold Updates

Investment demand at SPDR Gold ETF was also hurt yesterday and we saw redemption of 0.6 tonnes on Gold. COMEX Gold Feb futures tumbled sharply by 2.83 percent to $1,668.2 per troy ounce from $1,716.8 per troy ounce the prior day on stronger greenback as Dollar Index surged by 1.20 percent to 79.53 from 78.59 the prior day. Gold again in green eye, its presently trade at 28940 & looking bullish from this level if it cross 29220 level. Today in the afternoon session of the trade we have Euro Zone and Germany Economic Sentiment Index which is expected to further decline and hence would be negative for the Euro and for the Precious Metals Complex. In the evening session of the trade we have U.S. Retail Sales which are expected to show a greater than prior month’s rise and hence would support the Dollar.

MCX Silver Tips

In other precious metal silver also with positive mode, at the day time silver fell by the weekness of dollar but at the time of evening its again bounce backed at trade above 56700+. Investment demand at iShares Silver trust remained unchanged yesterday while Gold/Silver ratio increased to 53.61 yesterday from 53.13 the prior day. Silver may go 57000 & if it will cross 57650 level then it woulb be in bullish trend.

Copper Tips

COMEX Copper Feb futures fell by 2.63 percent to $3.4640 per pound from $3.5575 per pound the prior day, but at present day copper show its uptrend which mentained by it on last trading hours at previous day. Copper sharply looking bullish & it would go for 410.05 again.

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MCX Commodity Data with live bullion Updates

Live Bullion Updates

MCX Bullion fall today, both presious metals fall gold stopped at 28853 while silver stopped at 56111. From this stage in tomorrow if gold breaks 29560 level then it would be in bullish trend while if silver cross the level of 58900 then it would be in bullish trend.   

MCX Market Data

Date	Time	Currency	Economic Data	Forecast	Previous
FRI 2ND DEC	7:00pm	USD	Non-Farm Employment Change	120K	80K
	7:00pm	USD	Unemployment Rate	9.0%	9.0%
	7:00pm	USD	Average Hourly Earnings m/m	0.2%	0.2%
	7:30pm	USD	FOMC Member Fisher Speaks
	8:30pm	USD	FOMC Member Plosser Speaks

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MCX Gold, Silver, Copper Updates

Gold MCX Trend

In Indian commodity, MCX gold shows al most 0.60% down fall today. Today no major economic data is scheduled to release and hence markets are expected to trade in a range and will digest news coming out of the Euro Zone and will also look out for the U.S. FOMC Meet on Tuesday. COMEX Gold Feb futures pared their prior day losses and rose by 0.20 percent to $1,716.8 per troy ounce on Friday from $1,713.4 per troy ounce the prior day. No major movement will can see for bullion in today's market trading session.

MCX Silver Updates

Investment demand for the white metal remained unchanged on Friday at iShares Silver trust unlike that in SPDR Gold ETF. Silver currently trading on 56300 with 1% down fall from this level we can say no major change for silver in short term of trading.

Copper Updates

MCX Copper also fall & finally trade at 408.35 form its previous close of saterday. COMEX Copper Feb futures also ended the day in green on Friday and rose by 1.64 percent to $3.5575 per pound from $3.5000 per pound the prior day. The rise was capped as the data from China showed slowdown in the Industrial Production which fanned fears in the investors mind regarding the demand from the world’s largest consumer of Copper as it came at the slowest pace since Aug, 2009.

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MCX Commodity Live

Gold again bounced back & finally stopped at 29153, while silver was on bearish trend & continusly shows down trend on last two days. Bullion was very volatile in this perticular maonth.

MCX Copper Tips

Copper again climed at finally stopped at 412.60. Copper continusly bullish on that week, we expect copper will perform better than last month. 

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Commodity - Gold Silver Copper Updates

Gold MCX Trend

The markets once again shifted their focus towards the Euro Zone and it were the dismal comments from the European Central Bank Chief Draghi which led to the fall in the Precious Metals Complex yesterday. Draghi also said lending money to the International Monetary Fund to buy Euro Zone government bonds was not compatible with EU treaties, though against that he did cut rates to extend liquidity provisions for stressed European banks. Gold looking bullish in intraday session & for log term it seems cosolidate.

Silver MCX Tips

COMEX Silver Mar futures also fell tracking along with Gold futures and ended the day down by 3.34 percent to $31.538 per troy ounce from $32.627 per troy ounce the prior day. Investment demand for the white metal showed resumption to a tune of 72.61 tonnes in the past two days while it was 42.36 tonnes yesterday. Gold/Silver ratio on the other hand pointed to weakness in the investment demand when the ratio came at 54.15 yesterday from 53.42 the prior day. If silver will cross 57500 level in intraday then it will go for 58000 level else for short term seeion it seems in consolidate phase.

Copper Updates

Weekly copper inventories in warehouses monitored by the Shanghai Futures Exchange rose a whopping 26 percent to 72,712 tonnes this week. COMEX Copper Mar futures fell by 1.57 percent to $3.5000 per pound yesterday from $3.5560 per pound the prior day. A little corretion can seems in the copper for today's trading session.

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MCX Commodity Updates

Gold MCX Trend

Spot gold prices declined slightly by around 0.1 percent today and touched an intra-day low of 1733/oz till 4.30 pm IST. However, sharp fall in the yellow metal was cushioned on account of a weaker dollar. Gold presently trade around 29365 & expect to trade between 29300 t0 29400 for this trading day.

Copper Updates

Prices have been moving sideways in 403-414 ranges with a positive bias and a breakout from the either side is now required for further directional moves. For the day, attempts to test 412/414 levels may be seen and break above the same may see a rise towards 416/418 levels. Intraday weakness seen only below 407.

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Commodity Data

Commodity Data

Date	Time	Currency	Economic Data	Forecast	Previous
THU 8TH DEC	1:30am	USD	Consumer Credit m/m	7.0B	7.4B
	7:00pm	USD	Unemployment Claims	397K	402K
	8:30pm	USD	Wholesale Inventories m/m	0.4%	-0.1%
	9:00pm	USD	Natural Gas Storage	-10B	-1B

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Crude, Gold & Copper Updates

Crude Updates

Nymex crude oil gained by 0.3 percent on Tuesday, on the back of expected decline in global supplies after the European Union stated that it may ban crude oil imports from Iran. On DOW Jones - Crude-oil futures mildly rose Wednesday in Asia, as the dollar weakened a little against the euro and regional share prices were broadly positive, while trade was sluggish as the market awaited any news on Europe. In MCX India crude oil trdae in positive mode & it can buy at higher level.

Copper Updates

In Copper major resistance is 416.25 if copper touch this level then it will go for 420, while support is 411.70. At the Multi Commodity Exchange, copper for delivery in February rose by Rs 2.20, or 0.54%, to Rs 410.60 per kg, with a business volume of 6,671 lots. LME Copper trades slightly up in early trades today after a weaker session yesterday. Asian markets trade higher in early today tracking gains in US equities yesterday. Euro trades higher against dollar in early trades today after closing unchanged yesterday. Globally, copper for three-month delivery jumped up by 0.9% to $7,906 a tonne on the London Metal Exchange (LME).

Gold Trend

week dollar give good support to gold & silver boyh precious metal. MCX Gold February contract rose around 0.3 percent and touched an intra-day high Rs29,000/10gms on Tuesday. Gold seems to be in good position for buying, gold can buy at higher level of 29150-165 for the target of 29220-245.

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MCX Gold Silver Trend

Gold MCX Trend

Investment demand for the yellow metal at SPDR Gold ETF as holdings remained unchanged on Friday as investors looked for the Euro Zone Summit on 9th Dec,2011 before taking any position in the metal. Gold trend is consolidate for today trading session, very little movement seems is in bullion commodity. No major support for gold in current trading.

MCX Silver UPdates

Silver is consolidate, not to good for buy. Investment demand for the white metal at iShares Silver trust saw redemption by 3.98 tonnes on Friday while Gold/Silver ratio was at 53.61 on Saturday from 53.64 the prior day after the ratio made a high of 53.93 showing mixed demand for both the yellow metal and white metal.

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MCX Gold Silver Trend

Gold MCX Trend

Investment demand was also hit yesterday as holdings at SPDR Gold ETF saw some mild redemption of 0.61 tonnes yesterday. COMEX Gold Feb futures, who currently have seem to lost their safe haven demand and are moving along with Financial Markets fell by 0.60 percent to $1,739.8 per troy ounce from $1,750.3 per troy ounce the prior day. Spot Gold prices are trading around $1749/oz and prices on the MCX are hovering around Rs28,954/10gms.

Silver Updates

Investment demand for the white metal remained unchanged yesterday while Gold/Silver ratio was at 53.21 yesterday from 53.23 the prior day indicating strength in the white metal compared to the yellow one. Silver is on bullish trend silver can buy from the level of 57800 & target will be 57960 & more.

A little down trend may be in silver but no major downfall seems for today's sesson.

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MCX Market Data

MCX Data

Date	Time	Currency	Economic Data	Forecast	Previous
FRI 2ND DEC	7:00pm	USD	Non-Farm Employment Change	120K	80K
	7:00pm	USD	Unemployment Rate	9.0%	9.0%
	7:00pm	USD	Average Hourly Earnings m/m	0.2%	0.2%
	7:30pm	USD	FOMC Member Fisher Speaks
	8:30pm	USD	FOMC Member Plosser Speaks

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MCX Commodity Updates

Silver Updates

Today gold is on consolidate phase, today in the evening session of the trade we have U.S. Jobless Claims which are expected to remain below the 400,000 mark and hence showing signs of stability. We also have the U.S. Manufacturing PMI which is also expected show improvement and hence would be good for the economy. On the MCX, Gold prices declined around 0.3 percent on account of Rupee appreciation and was hovering around Rs29,040/10 gms till 4.45 pm IST.

Copper Updates

COMEX Copper Mar, 2012 futures surged sharply by 5.46 percent to $3.5755 per pound from $3.3905 per pound the prior trading day. The intervention of the six Global Central Banks coupled with Chinese intervention of the Central Bank to reduce the Reserve Requirement Ratio supported the RED Metal. Copper fall by 0.70% after touched it high level.

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