MCX Bullion & Copper Updates

Bullion Updates

Today movement was very uncertain in Indian Commodity, Gold still with its previous position with little down trend while silver was down after hold long tilme position at 55600. We suggest Silver can sell form higher level. While Gold is very uncertain no buying position seems for gold in todays session.

Copper Updates

Copper was following gold & silver today, after stand on a level it was goes down. A little correction can arise in copper & it may move for up side if it will corss 421.20. Copper, the leader of the base metals, declined 0.5 percent on the LMEtoday on account of mixed sentiments in the global markets due to escalating worries over Euro Zone debt crisis. Additionally, a stronger dollar also acted as a negative factor. However, sharp downside was cushioned on the back of drop in copper inventories on the LME warehouses today. The red metal stocks declined by 1 percent to 342,250 tonnes, lowest since October 2009.

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MCX Gold, Silver, Base Metals Update

Gold MCX Trend

Gold looking consolidate from this level & sustain at the same level after world gold movemnt.The European Union finance ministers prepared to meet in Brussels today in early night session to discuss new budget rules, financial firewall to protect indebted states and the proposed Greek Debt swap.As per the latest release from the Commodities Futures Trading Commission for the period 10th Jan – 17th Jan, 2012, Money Managers increasedtheir long bets on the Precious Metals Complex while the prices of Gold and Silver surged by 1.48 percent and 1.07 percent respectively during the period. The Net long positions for the Non

Commercial Traders showed an increase of 2.46 percent and 20.97 percent during the period in Gold and Silver futures respectively.

Silver MCX Trend

MCX Silver seems bullish for today trading session, after dollar down silver continue on bullish side. Today from morning session was showing bullish trend & from the level of 56500 a clear buying level seems. COMEX Silver Mar futures surged sharply compared to Gold Futures and edged up by 3.82 percent to $31.675 per troy ounce from $30.509 per troy ounce the prior day. Investment demand for the white metal too remained muted as holdings at iShares Silver trust remained unchanged on Friday. Gold/Silver ratio showed that silver looked more preferable option. compared to Gold as the ratio slid down to 51.79 on Saturday from 52.41 the prior day.

Base Metal Trend

Base Metals complex sentiments were mixed as on side we had the declining LME inventories in Copper, Nickel and Lead while on the other side the stronger greenback and Chinese New Year Holidays prompted investors to liquidate their positions. COMEX Copper Mar futures pared their prior day gains and fell on Friday by 1.46 percent to $3.7450 per pound from $3.8005 per pound the prior day. LME Copper Feb futures fell by 1.76 percent to $8,216.0 per ton on Friday compared to the prior day.

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MCX Bullion Updates

In MCX bullion both Gold & Silver were in consolidate phase, Silver was consolidate form last some hours & seems bearish from 53550 level. While in Gold, gold is also seems in down side trend. 

Today all commodity was in up trend, but in precious metals we are not suggesting new buying positions.

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Live MCX Data

Live MCX Data 

Date	Time	Currency	Economic Data	Forecast	Previous
THU 19TH      JAN	7:00pm	USD	Building Permits	0.68M	0.68M
	7:00pm	USD	Core CPI m/m	0.1%	0.2%
	7:00pm	USD	Unemployment Claims	387K	399K
	7:00pm	USD	CPI m/m	0.1%	0.0%
	7:00pm	USD	Housing Starts	0.69M	0.69M
	8:30pm	USD	Philly Fed Manufacturing Index	10.7	10.3
	9:00pm	USD	Natural Gas Storage		-95B
	9:30pm	USD	Crude Oil Inventories	2.9M	5.0M

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MCX Gold & Copper Updates

MCX Gold Trend

Some good news coming from the investment side of the yellow metal when holdings at SPDR Gold ETF surged by 1.51tonnes, a feat last seen on 30th Nov, 11. South Africa's gold output fell by 4.5 percent in volume terms in Nov, 11 while total mineral production fell by 4.6 percent compared with the same month the year before. Production of non-gold minerals was down 4.6 percent, Statistics South Africasaid.

India changed the import duty on gold to 2 percent of value from the earlier flat 300 rupees per 10 grams and that of silver to 6 percent of value from 1,500 rupees per kilogram, the government said in a statement.

Copper Updates

Investor’s risk appetite recovered yesterday and we saw their funds entering the Base Metals Complex with COMEX Copper Mar futures showing a 2.54 percent rise to$3.7295 per pound from $3.6370 per pound the prior day. Today the data in the evening will also have an impact on the Base Metals Complex while bearish comments from the World Bank would weigh on the Copper prices.

China's refined copper production rose 14.2 percent on the year in 2011, with Dec, 11 output up 8 percent from a year earlier as smelters rushed to meet annual outputtargets. In 2011, refined copper production in the world's top copper consumer reached 5.179 million tonnes while output increased 2 percent from Nov, 11 to 457,000 tonnes,data from the National Bureau of Statistics showed on Tuesday. The December figure was the first monthly rise after hitting a record 518,000 tonnes in Aug, 11.

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MCX Commodity Data

Important Data for Commodity 

Date	Time	Currency	Economic Data	Forecast	Previous
WED 18TH      JAN	7:00pm	USD	PPI m/m	0.1%	0.3%
	7:00pm	USD	Core PPI m/m	0.1%	0.1%
	7:30pm	USD	TIC Long-Term Purchases	27.3B	4.8B
	7:45pm	USD	Capacity Utilization Rate	78.2%	77.8%
	7:45pm	USD	Industrial Production m/m	0.5%	-0.2%
	8:00pm	USD	FOMC Member Tarullo Speaks
	8:30pm	USD	NAHB Housing Market Index	22	21

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