MCX Precious Metal Updates, Base Metals Trading Levels, Energy Trend For Today

MCX Commodity Outlook: Gold Silver Crude Lead Copper  Intraday Tips & Free Trial on All MCX Commodities For Today 6 September: 

Gold futures on MCX continued to set new highs, October contract touching 31,525 rupees per 10 gm due to a sharp fall in the rupee against the US dollar. We expect prices to trade higher on account of ECB Bond buying expectations and further QE expectations from the US Fed.
==> MCX Gold Oct: Support- 31400/31340 Resistance- 31530/31600
==> MCX Silver Dec: Support- 61600/61300 Resistance- 62200/62500

 

Crude oil prices are trading higher on NYMEX today. We expect oil prices to remain firm on account of overall optimism of liquidity in the financial markets.
==> MCX Crude Sept: Support- 5280/5240 Resistance- 5360/5390

Copper: Metals prices reached to its priciest levels in more than a month. MCX Copper November contract is looking positive for the day. Market may find support near  435 & 432; intraday resistance can be seen near  439 & 443. Day traders are advised to  buy intraday on dips.  metals prices are trading little changed on international bourses. We expect prices to take cues after the ECB announcement.
==> MCX Copper Nov: Support- 434/431 Resistance- 440/443
==> MCX Lead Sept: Support- 112.30/111.60 Resistance- 113.40/114.10

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