MCX Commodity Bullion & Base Metals Trend

Gold MCX Trend

Gold prices witnessed gains of around 0.4 percent till 4.45pm IST on account of rise in risk aversion which boosted safe-haven demand for gold. Today in the evening session of the trade we have range of Economic data from the U.S. which is expected to show slight improvement, however any figure showing a weaker than expected reading would support the Precious Metals Complex.

Live MCX Updates

Prices touched an intraday low of $30.26/oz and were hovering around the same levels. Silver rose 0.6 percent on the MCX on account of Rupee depreciation and touched an intra-day high of Rs 52,424/kg till 4.45 pm IST today. Holdings at iShares Silver trust saw redemption of 22.71 tonnes yesterday while Gold/Silver ratio pointed to strong investment demand for the white metal in comparison to the yellow metal when the ratio fell to 53.2 from 54.02 the prior day.

Base Metal Trend

Copper Updates

LME Copper three month futures however rose yesterday to $7,177.25 per ton from $7,067.5 per ton the prior day on weaker greenback and also getting support from the supply side concerns from the strike at Peru’s Freeport –McMoRan Cerro Verde Copper mine. Copper Trade in down side at present.

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MCX Commodity Market data

MCX Market Data

Date	Time	Currency	Economic Data	Forecast	Previous
FRI 30TH SEP	6:00pm	USD	Core PCE Price Index m/m	0.2%	0.2%
	6:00pm	USD	Personal Spending m/m	0.2%	0.8%
	6:00pm	USD	Personal Income m/m	0.1%	0.3%
	7:15pm	USD	Chicago PMI	55.8	56.5
	7:25pm	USD	Revised UoM Consumer Sentiment	57.9	57.8
	7:25pm	USD	Revised UoM Inflation Expectations		3.7%

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Gold MCX, Live Silver & Copper Updates

Gold MCX Trend

Gold was on under pressure on last trading session. Gold touched an intraday low of $1597/oz and closed at $ 1607/oz yesterday. On the MCX, Gold October declined around 2 percent and touched an intra-day low of Rs 25,608/10 gms on Wednesday. In today upcomein gtrading session we expect that gold will trade to the level of 25650.

MCX silver Trend

Yesertay trading last hours were not good for silver silver decline in last moment on MCX. COMEX Silver Dec futures fell by 4.45 percent to $30.134 per troy ounce yesterday from $31.536 per troy ounce the prior day. From this level of trading silver can move towards of 50750+ level.

Copper updates

Copper continue goes down from last session & expected more down for uncoming trading, Copper was the top loser on Wednesday as the metal declined more than 7 percent on the LME and almost 6.5 percent on the MCX. COMEX Copper Dec futures fell sharply by 5.61 percent to $3.2465 per pound yesterday from $3.4395 per pound the prior day amid weak economic data from U.S. and on stronger greenback.

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MCX Commodity Live Data

Live MCX Commodity Data

Date	Time	Currency	Economic Data	Forecast	Previous
THU 29TH SEP	2:30am	USD	Fed Chairman Bernanke Speaks
	6:00pm	USD	Unemployment Claims	420K	423K
	6:00pm	USD	Final GDP q/q	1.2%	1.0%
	6:00pm	USD	Final GDP Price Index q/q	2.4%	2.4%
	7:30pm	USD	Pending Home Sales m/m	-1.7%	-1.3%
	8:00pm	USD	Natural Gas Storage	97B	89B

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Gold, Silver, Copper Updates for trading

MCX Gold Trend

After getting some correction gold again slip today, the yellow metal touched an intra-day high of $1676/oz and closed its trading session at $ 1649/oz yesterday. On the MCX, Gold October witnessed gains of around 2 percent and touched an intra-day high of Rs 26,677/10 gms on Tuesday. We not suggest for short term or intraday trading in gold.

MCX Silver Trend

Spot silver also rose sharply by 3.8 percent on Tuesday mainly taking cues from rise in gold prices coupled with upside in base metals.Additionally, dollar weakness also acted as a positive factor. Today in evening session silver trade in negative side, but we expect that it perform some correction after data.

MCX Copper updates

Copper show 2.95% decline on chart, it may trade for 362.10 level in next trading hour, We suggest for sell strategy in copper today at lower level.

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MCX Market Data Live

MCX Market Data

Date	Time	Currency	Economic Data	Forecast	Previous
WED 28TH SEP	6:00pm	USD	Core Durable Goods Orders m/m	0.1%	0.8%
	6:00pm	USD	Durable Goods Orders m/m	-0.2%	4.1%
	8:00pm	USD	Crude Oil Inventories	1.1M	-7.3M

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