MCX Commodity Intraday Trading Tips & Levels: Gold Updates, Silver Trend, Crude Outlook, Copper Tips For Today 3 September:
Gold Extends Post Bernanke Gains in the early trade today. MCX, Gold October contract increased by more than 1 percent as Indian Rupee depreciated and closed at Rs.31,220/10 gms on Friday after touching a high of Rs.31,231/10 gms. Gold fell immediately following the release of Bernanke's speech. His speech raised hopes of a new round of monetary stimulus for the US economy.
Copper Trades Higher In Asian Markets with the opening session of trade today. Copper declined by 0.9 percent during the week. On MCX copper prices gained by 0.1 percent with the depreciated Indian rupee and closed at Rs.426.25/kg after touching a high of Rs.424.40/kg. Indian markets appreciation in the Rupee will lead to fall in the base metals prices on the MCX.
MCX Gold Oct: Support- 31098/30877 Resistance- 31488/31709
MCX Silver Sep: Support- 60250/59780 Resistance- 61266/61750
MCX Crude Aug: Support- 5335/5300 Resistance- 5418/5449
MCX Copper Aug: Support- 423.50/420.60 Resistance- 428.65/431.0
MCX Lead Aug: Support- 108.55/107.85 Resistance- 109.50/110.15
MCX Nickel Aug: Support- 886.20/878.60 Resistance- 902.70/911.50
Gold Extends Post Bernanke Gains in the early trade today. MCX, Gold October contract increased by more than 1 percent as Indian Rupee depreciated and closed at Rs.31,220/10 gms on Friday after touching a high of Rs.31,231/10 gms. Gold fell immediately following the release of Bernanke's speech. His speech raised hopes of a new round of monetary stimulus for the US economy.
Copper Trades Higher In Asian Markets with the opening session of trade today. Copper declined by 0.9 percent during the week. On MCX copper prices gained by 0.1 percent with the depreciated Indian rupee and closed at Rs.426.25/kg after touching a high of Rs.424.40/kg. Indian markets appreciation in the Rupee will lead to fall in the base metals prices on the MCX.
MCX Gold Oct: Support- 31098/30877 Resistance- 31488/31709
MCX Silver Sep: Support- 60250/59780 Resistance- 61266/61750
MCX Crude Aug: Support- 5335/5300 Resistance- 5418/5449
MCX Copper Aug: Support- 423.50/420.60 Resistance- 428.65/431.0
MCX Lead Aug: Support- 108.55/107.85 Resistance- 109.50/110.15
MCX Nickel Aug: Support- 886.20/878.60 Resistance- 902.70/911.50
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