Bullion Outlook, Base Metal Trading Levels, Crude Updates For Today 12 Sept: Precious metals prices reached to its six month high yesterday as the dollar fell following a warning by Moody. Bullion prices are trading higher on COMEX today. We expect a further rise in the prices of precious metals on account of QE3 expectations. On MCX we expect a positive sentiment ahead of US Federal Reserve meeting September 12-13 and the German constitutional court ruling on September 12, 2012.
Gold: Sell around- 31950/31980 Target 31300 Stop Loss- 32150
On MCX copper prices gained by 0.1 percent as a result of appreciation in the Indian Rupee and closed at Rs.452.90/kg on after touching a low Rs.449.6/kg. Nickel prices are expected to trade higher one can long with a stop loss below 920. Prices expected to test 960.
Gold Oct Sup2- 31720 Sup1- 31800 Res1- 31950 Res2- 32030
Silver Dec Sup2- 63150 Sup1- 63600 Res1- 64100 Res2- 64550
Copper Nov Sup2- 449 Sup1- 452 Res1- 453 Res2- 456
Nickel Sept Sup2- 920 Sup1- 927 Res1- 935 Res2- 947
Crude Oil Sept Sup2- 5310 Sup1- 5350 Res1- 5385 Res2- 5420
Gold: Sell around- 31950/31980 Target 31300 Stop Loss- 32150
On MCX copper prices gained by 0.1 percent as a result of appreciation in the Indian Rupee and closed at Rs.452.90/kg on after touching a low Rs.449.6/kg. Nickel prices are expected to trade higher one can long with a stop loss below 920. Prices expected to test 960.
Gold Oct Sup2- 31720 Sup1- 31800 Res1- 31950 Res2- 32030
Silver Dec Sup2- 63150 Sup1- 63600 Res1- 64100 Res2- 64550
Copper Nov Sup2- 449 Sup1- 452 Res1- 453 Res2- 456
Nickel Sept Sup2- 920 Sup1- 927 Res1- 935 Res2- 947
Crude Oil Sept Sup2- 5310 Sup1- 5350 Res1- 5385 Res2- 5420
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