Silver Tips

Silver Buy
At - 58210
tgt - 58330, 58480
Sl - 58070

MCX Commodity Updates, Bullion & Metals trend

Bullion trend

In MCX Commodity there is mix trend, Gold December rose by 1.2 percent & touched Rs.28,825/10 gms on Tuesday. Gold also trade in positive mode today & we expect that it will trade for the level of 28960 in todys trading session if it cross 28875. Silver in mix mode after gain on last day it trade in consolidate phase, if silver will touch 57800 then it will cross 58150+ in current trading session.

Crude Oil updates

Crude shows positive trend in last some trading sessions, todays also it trade in strong mode. On the MCX Gold December contract rose by 1.2 percent on account of Rupee depreciation and touched an intra-day high of Rs.28,825/10 gms on Tuesday. Crude expected in positive mode today.

Base Metal Trend

Nickel dropped marginally by 0.2 percent on the LME on Tuesday. But, further decline was cushioned on account of sharp fall in the metal inventories on the LME warehouse yesterday. Copper shows sharp decline & there is no hope for it to trade in positive mode.

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MCX Market Data

Date	Time	Currency	Economic Data	Forecast	Previous
WED 9TH NOV	12:00am	USD	FOMC Member Plosser Speaks
	8:00pm	USD	Fed Chairman Bernanke Speaks
	8:30pm	USD	Wholesale Inventories m/m	0.5%	0.4%
	9:00pm	USD	Crude Oil Inventories	0.7M	1.8M
	10:45pm	USD	FOMC Member Tarullo Speaks

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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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