MCX Gold & Silver Updates

Gold, Silver Updates

Spot gold prices declined around 0.3 percent on Monday, on account of dollar strength, as a stronger dollar makes dollardenominated commodities look cheaper for the holders of the other currencies. Additionally, fall in crude oil prices affected the inflation-led demand for gold which also acted as a negative for gold.

Silver was open is positive trend but at midday trading hours it was on down phase & currently trade with sell pressure. Silver overall is bearish, below the level of 56000 it may go for 55700.

Crude Updates

We expect Crude will trade on lower side. Prices touched an intra-day low of $96.38/bbl and closed at $96.90/bbl yesterday. On the MCX, crude oil prices increased by 0.7 percent on account of Rupee depreciation and touched an intra-day high of Rs.4803/bbl on Monday. 

On Copper & other base metal side we expext all base metals will trade on down side. No fresh buying we recommend here. 

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MCX Commodity Market Data for Today

- GOLD SLIPS AS GREEK BAILOUT TALKS HURT EURO, STOCKS.
- OIL DIPS BELOW $98; GREEK DEBT, IRAN IN FOCUS.
- COPPER FALLS AS GREECE BAILOUT TALKS KNOCK EURO.
- DOMESTIC OIL AND OILSEED TRADE UP ON GLOBAL CUES.


MCX Market Data

Date	Time	Currency	Economic Data	Forecast	Previous
TUE 7TH    FEB	8:30pm	USD	Fed Chairman Bernanke Testifies
	8:30pm	USD	IBD/TIPP Economic Optimism	48.1	47.5

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MCX Commodity Live Trend

After trade on down side, both bullion metals performed good & finally seems for up trend. Buy From this level both metals are in under pressure & not good for buying at this stage. We recommend it for sell. 

Gold up by 0.16% but very risky for trading we don't suggest here for holding, it can go down or can up very slightly. Market seems on down side & not major reports for upward trading.

While in Copper we recommend it for for sell. 

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MCX Commodity Updates- Bullion Trend

Bullion Trend

Both Precious metals are on bearish phase, no correction seems at current mooment, Gold al most 28% down while Silver is facing down trend by 34%. If Gold will break the Resistance level of the 29028 then it will show the bullish trend, else from the support level of 28035 it may go down. Silver major trend is bearish from this level we are not suggesting it for buy. Because of the world commodity's impact most of commodity were down & no clear picture seems at that time.

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Commodity Updates with MCX Data

Commodity Updates

- GOLD RISES TO 8-WEEK HIGH, FIRM EURO SUPPORTS.

- CRUDE OIL FALLS TO SIX-WEEK LOW AS U.S. STOCKPILES RISE, FUEL DEMAND SLIP.

- COPPER TRADES STEADY AHEAD OF U.S DATA.

- DOMESTIC OIL AND OILSEED TRADE LOW.

MCX Data

Date	Time	Currency	Economic Data	Forecast	Previous
FRI 3RD   FEB	7:00pm	USD	Non-Farm Employment Change	153K	200K
	7:00pm	USD	Unemployment Rate	8.5%	8.5%
	7:00pm	USD	Average Hourly Earnings m/m	0.2%	0.2%
	8:30pm	USD	ISM Non-Manufacturing PMI	53.1	52.6
	8:30pm	USD	Factory Orders m/m	1.5%	1.8%

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Live MCX Market Data

MCX Data
- GOLD STEADY; U.S., EUROPE DATA EYED.
- OIL RISES IN NEW YORK AFTER INCREASE IN CHINESE MANUFACTURING.
- COPPER GAINS ON POSITIVE CHINESE MANUFACTURING PMI.
- DOMESTIC OIL AND OILSEED TRADE STEADY.


Market Data

Date	Time	Currency	Economic Data	Forecast	Previous
THU 2ND  FEB	6:00pm	USD	Challenger Job Cuts y/y		30.6%
	7:00pm	USD	Unemployment Claims	373K	377K
	7:00pm	USD	Prelim Nonfarm Productivity q/q	1.0%	2.3%
	7:00pm	USD	Prelim Unit Labor Costs q/q	0.9%	-2.5%
	8:30pm	USD	Fed Chairman Bernanke Testifies
	9:00pm	USD	Natural Gas Storage		-192B

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