MCX Commodity Live Updates, Crude Updates

Gold Updates

On a weekly basis, gold declined sharply by more than 3 percent, marking its second-biggest weekly drop during the year on the back of early week decline after the Federal Reserve suspended additional easing due to favourable economic data from the US. The yellow metal declined around 1 percent in the earlier trading session on Friday after India, the world’s top consumer of gold stated that it will double the import duties on gold to 4 percent from current 2 percent.

Gold & Silver both are down as we expected. Silver trade on lower side & from the level of 56760 it's good for short.

Silver Trend

Due to strong dollar silver is very un identify but near term is short. MCX Silver May contract dropped around 3.3 percent and touched a low of Rs56,673/kg in the last week. Holdings in the iShares Silver Trust, the world's largest silver-backed exchange-traded fund, declined slightly by 0.1 percent to 9,752.67 tonnes on 16 th March 2012 from the previous 9763.25 tonnes on 9 th

March 2012.

Crude Oil Updates

Crude clear seems to bearish from this level, & expected to trade in down side Oil prices touched a low of 103.78/bbl during the last week and closed at $107/bbl on Friday. On the MCX, crude oil prices declined by 0.3 percent last week and closed at Rs.5333/bbl after touching a low of Rs.5232/bbl.

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Live MCX Commodity Tips, Crude Updates

On last trading day silver was on down, while gold closed on little high. Today we expect some correction phase on both metal. silver has major resistance form the level of 58450 & support level of 55550.

Base metal is expected bullish for the present trading day.


Commodity Updates
GOLD ENDS FLAT, DOWN 3 PERCENT FOR THE WEEK.
CRUDE UP ON IRAN SUPPLY WORRIES, WEAK DOLLAR.
COPPER FIRMS ON US DATA; SHANGHAI STOCKS WEIGH.
INDIAN SPICES TRADE UP.

MCX Commodity Data

Date	Time	Currency	Economic Data	Forecast	Previous
MON 19TH MAR	6.05PM	USD	FOMC Member Dudley Speaks
	7.30PM	USD	NAHB Housing Market Index	30	29
	11.10PM	USD	FOMC Member Dudley Speaks

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Commdity Live Updates for Today

Gold & Silver both metals are trading on higher levels & from this level we expect silver & Gold both metals will trade on higher level & above the level of 58200 silver will trade for more upside.

Apart from precious metal, base metal shows some down side trend. We suggest no new position have to be created until budget will not open.

GOLD BOUNCES AFTER 2 PCT DROP, U.S. DOLLAR EYED.

OIL TRADES NEAR 1-WEEK LOW ON U.S. SUPPLIES, SAUDI PLEDGE.

COPPER FLATLINES; EYES ON DOLLAR, CHINA.

DOMESTIC OIL AND OILSEED TRADE STEADY

Commodity Data for Today

 

Date	Time	Currency	Economic Data	Forecast	Previous
FRI 16TH MAR	06:00 PM	USD	CORE CPI M/M	0.2%	0.2%
	06:00 PM	USD	CPI M/M	0.4%	0.2%
	06.45PM	USD	CAPACITY UTILIZATION RATE	78.9%	78.5%
	06.45PM	USD	INDUSTRIAL PRODUCTION M/M	0.4%	0.0%
	07.25PM	USD	PRELIM UoM CONSUMER SENTIMENT	75.7	75.3
	07.25PM	USD	PRELIM UoM INFLATION EXPECTATIONS		3.3%

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MCX Commodity Data

GOLD SLIPS FOR THIRD DAY; EQUITIES, DOLLAR WEIGH.
BRENT OIL DIPS ON SUPPLY BUILD OUTLOOK.
COPPER SLIPS ON CHINA CONCERNS, STRONGER DOLLAR.
DOMESTIC OIL AND OILSEED TRADE STEADY.



Live Commodity Data

Date	Time	Currency	Economic Data	Forecast	Previous
THUR 15TH MAR	06:00 PM	USD	PPI M/M	0.5%	0.1%
	06:00 PM	USD	UNEMPLOYMENT CLAIMES	357K	362K
	06.00PM	USD	CORE PPI M/M	0.2%	0.4%
	06.00PM	USD	EMPIRE STATE MANUFACTURING INDEX	17.6	19.5
	06.30PM	USD	TIC LONG -TERM PURCHASES	29.3B	17.9B
	07.30PM	USD	PHILLY FED MANUFACTURING INDEX	11.9	10.2
	08.00PM	USD	NATURAL GAS STORAGE	-58B	-80B

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MCX Commodity Live Updates

 Both Precious metal trade in down side & seems to more down side trend form this level.
The base metals complex traded lower on the LME in today’s trading session on the back of a stronger dollar. However, rise in risk appetite in the markets resisted further downside in metal prices.  Lead is the worst performer of the day, as the metal declined around  0.8 percent on the LME and by 0.7 percent on the MCX till 4.30 pm  IST today.

Nymex crude oil prices declined by 0.1 percent today on the back of expected rise in US crude oil inventories coupled with a  stronger dollar. Oil prices touched an intra-day low of $106.12/bbl and was hovering around $106.61/bbl till 4:30pm IST today. On the MCX, crude oil prices declined by  0.2 percent after touching an intra-day low of Rs5315/bbl and were trading at Rs5330/bbl till 4:30pm IST.

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Daily Commodity Updates, Crude Update

Gold Silver Trend

Gold & Silver both precious metal was down on last trading day, today trend is also downside. Silver continue trade on lower side form last two days. But on base metal alummimium & copper was trade on higher level with other base metal lead, nickel & zinc.

Crude Updates

In crude, crude can trade on up side due to international trend & if it breaks the resistance of 5402 then can show more up trend form this current level, else form the support level of 5280 it seems down.

MCX Updates

GOLD GAINS AHEAD OF FED MEETING, EURO HELPS.

BRENT CRUDE UP NEAR $126 AHEAD OF FED MEETING.

COPPER UP AHEAD OF FED MEET ON MACRO OPTIMISM.

DOMESTIC OIL AND OILSEED TRADE HIGHER.

Live Commodity data

Date	Time	Currency	Economic Data	Forecast	Previous
MON 14TH MAR	06:00 PM	USD	CURRENT ACCOUNT	-114B	-110B
	06:00 PM	USD	IMPORT PRICES M/M	0.6%	0.3%
	07.30PM	USD	FED CHAIRMAN BERNANKE SPEAKS
	08.00PM	USD	CRUDE OIL INVENTORIES	2.2M	0.8M

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