Gold, Silver, Crude Oil Updates

Gold MCX Trend

MCX Gold increased by 1.7 percent and hit a high of Rs.28,444/10 gms yesterday. Today Gold is in rang bound gold will trade under the levels of 28510-28610. No major support for gold in today's evening trading session. we expect gold will cross 28700 in 7-8 days, if it breaks 28620 level.

Silver MCX Trend

Silver is in risky phase here we suggest you to go for fresh buying, keep your old holding. On the MCX, Silver December contract rose almost 1.5 percent and touched an intra-day high of Rs.57,444/kg on Monday. Silver may dip from this level and no correction seems in it for near future.

Crude oil Updates

Crude trading in good phase, from this level we expect that it will touch 4765+ level easily, Oil prices closed at $95.5/bbl which is at a three-month high after touching an intra-day high of $96.11/bbl. On the MCX, crude oil prices increased almost 1 percent and closed at Rs.4665/bbl after touching an intra-day high of Rs.4685/bbl on Monday.

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Commodity Market Updates weekly.

Commodity Updates

• GOLD TRADERS MORE BULLISH AS DEBT CRISIS, U.S. ECONOMY SPUR BETS ON GAINS.
• OIL RISES TO THREE-MONTH HIGH AS GREECE BACKS DOWN ON RESCUE PACKAGE VOTE.
• COPPER RISES ON ECB RATE CUT, GREEK BAILOUT HOPES.
• WHEAT PLUNGING AS DECADE-HIGH STOCKPILES EASE WORLD SHORTAGES.

Gold

U.S. Gold futures pulled back from the prior session's climb to a six- week high on Friday, as prices consolidated the move in front of U.S. monthly jobs data, while Copper firmed as Greek default worries eased. Gold pulled back, but prices held near their highest in six weeks due to the uncertainty surrounding Greece and the euro zone. Bullion came under pressure on market frustrations that the euro zone won verbal support but no new money at a Friday's G20 summit for its tortured efforts to overcome a sovereign debt crisis. The metal -- a traditional safe haven which has recently taken to tracking riskier assets -- fell with U.S. equities after data showed U.S. hiring slowed in October but the unemployment rate also fell, pointing to some improvement in the still- weak labor market.

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MCX Bullion Updates

Gold MCX trend

MCX Gold may move back for the first support level & it will again move for the higher level. MCX Gold increased by 1.4 percent and hit a six-week high of Rs.28,022/10 gms yesterday. This bullion metal shows good positive trend over the dollar weekness and for the short term buying its seems good.

Silver Updates

Silver can also touch support level & from the down side it will bounce back & go for next higher levels. On the MCX, Silver December contract gained by more than 1 percent and touched an intra-day high of Rs.57,200/kg yesterday. From now silver has strong resistance on 57000.

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Commodity Data

MCX Commodity data

Date	Time	Currency	Economic Data	Forecast	Previous
FRI 4TH NOV	Day 2	USD	G20 Meetings
	6:00pm	USD	Non-Farm Employment Change	97K	103K
	6:00pm	USD	Unemployment Rate	9.1%	9.1%
	6:00pm	USD	Average Hourly Earnings m/m	0.2%	0.2%
	10:30pm	USD	FOMC Member Tarullo Speaks

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MCX Silver tips

Live Silver Tips
Silver Buy At CMP
for the Target - 56620, 56800
Sl - 56280

MCX Gold Silver Trend

Gold Updates
Investment demand for the yellow metals continued to remain unchanged yesterday and we saw no addition in the holdings of SPDR Gold ETF. Gold is in bullish trend & form this level we expect it may move for the 27850 level today. Gold bullish form last 3 days US financial touch & European  market's impact clearly seems on the gold trading.

Silver Updates
Silver MCX will touch 57000 in evening session. It seems bullish, Investment demand for the white metal saw some resumption yesterday in iShares Silver trust whose holdings fell marginally by 4.07 tonnes while the Gold/Silver ratio also remained above the 50 level mark and closed at 50.89 from 51.53 the prior day.

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