Commodity News and Updates for 7th oct. 2012

Bullion : 
Gold prices are  expected to remain  volatile ahead a US elections, we expect prices to trade within the broad range from 31500 to 30900.
Silver prices closed at higher end with a positive break above 59200. As long as price holds and closes above 59200 prices are expected to trade higher
Base metal : 
Copper prices are expected to trade higher and test the resistance of 425 -426. For intraday one can buy around 421 with a stop loss below 417. Crossing 426 would witness fresh buying to the tune of 430 – 432.
Nickel prices are expected to trade within a range from 866 to 895 one can buy on dips. One can witness a sideways to positive move for the day.
Lead prices are expected to test 121 -122 on higher end one can buy on dips around 118.
Energy: 
Crude  price  have witnessed a break above 4720 and witness fresh buying we expect prices to trade higher to the tune of 4870, buying on dips is recommended around 4780.

Read More

Commodity Market News for 4th october 2012

Gold rose on Wednesday, with prices just shy of recent 11 month highs, as investors awaited a US employment report for signs of recovery in the world's biggest economy. 

Spot gold was 0.3 percent higher at $1,778.50 an ounce by 1022 G MT. Trade was thin as China, the world's largest commodity consumer, remained on a week-long holiday. 

 Silver prices moved down by 0.53 per cent to Rs 62,600 per kg in futures trade today after speculators trimmed positions amid negative cues from the global markets. At the Multi Commodity Exchange, silver for delivery in December moved down by Rs 334, or 0.53 per cent, to Rs 62,600 per kg, with a business turnover of 2,419 lots. 

 Crude oil prices fell on Wednesday, as weak data from Europe and China dimmed the outlook for demand, while Europe's festering debt crisis added to the gloom. 

Nickel prices moved down by Rs 6.30, or 0.64 per cent, to Rs 979.90 per kg in futures market today as speculators reduced their positions, taking weak cues from the global markets on economic concerns. Multi Commodity Exchange, nickel for delivery in October declined by Rs 6.30, or 0.64 per cent, to Rs 979.90 per kg, with a business turnover of 5,257 lots. 

MCX GOLD

30940.0	Change -39.0	Open 30962.0	High 30969.0	Low 30862.0

INTERNATIONAL GOLD

1,783.70	Change +3.90	Open 1,780.00	High 1,785.30	Low 1,779.90

MCX SILVER

62387.0	Change 69.0	Open 62344.0	High 62472.0	Low 62289.0

INTERNATIONAL CRUDE

108.50	Change +0.33	Open 108.20	High 108.83	Low 108.02

Read More