Technical Outlook for evening session – 11th July’14 ( CMP as of 4.00 pm)
Commodity Unit Support2----Support1----CMP----Resistance1----Resistance2
Gold Aug’14 Rs/10gm----28110----28230----28340----28460----28590
Spot Gold $/oz----1324----1331----1337.5----1345----1353
MCX Gold Positional EOD End of the Day Chart with automatic Buy and Sell Signal
Silver Sept’14 Rs/kg----45500----45850----46110----46400----46750
Spot Silver $/oz----21.05----21.25----21.43----21.62----21.84
Crude Oil July’14----Rs----/bbl----6100----6130----6167----6190----6220
Nymex Crude Oil Aug’14 $/bbl----101.4----101.95----102.55----103----103.6
Natural Gas July’14 Rs/mmbtu----243----246----249.8----252----255
LME Copper $/tonne----7035----7090----7131----7195----7250
Copper Aug’14 Rs/kg----430----433----435.2----439----442
Zinc July’14 Rs/kg----135----135.8----136.5----137.4----138.2
Lead July’14 Rs/kg----129.6----130.5----131.25----132.1----133
Aluminum July’14 Rs/kg----113.5----114.3----115.05----116----116.8
Nickel July’14 Rs/kg----1129----1142----1154----1167----1180
International Commodities
News and Analysis
European markets are trading on a positive note as investors bet that the concerns regarding Portugal’s biggest bank would not spread to Euro area banking crisis. Asian markets are trading on a mixed note and the US stock futures are trading in the green.
Spot gold continues to trade near its highest in almost four months on Friday and was on track for a sixth straight weekly gain as troubles at a Portuguese bank hammered equities and stoked safe-haven demand for bullion. Gold is getting a boost along with other safe-havens such as the Japanese yen and bonds, as European and U.S. stock markets fell on Thursday on investor fears over financial troubles at the family-owned holding companies behind Banco Espirito Santo. On the MCX, gold prices are trading marginally lower by 0.6 percent at Rs.28317/10gms.
Spot silver prices are also trading higher in line with strength in bullion prices. Weakness in the base metals pack and lower interest rate in the US for a longer period of time has brought speculators back in action. On the MCX, silver prices are down by 0.1 percent trading at Rs.44776/kg in contrary to the strength in international markets.
Base metals on the LME are trading on a mixed note today on the back of mixed global market sentiments owing to concerns regarding health of Portugal's biggest bank. However, declining trend in the LME inventories along with weakness in the DX restricted sharp fall. Zinc gained by around 0.2 percent as stockpiles are at the lowest level in more than three years thereby fuelling concern that demand for the metal might exceed supply. MCX base metals traded mixed in line with international trend.
LME Copper prices declined 0.5 percent today as China’s copper imports dropped to the lowest since April last year to 350,000 tonnes in June as demand for the metal as collateral to obtain credit eased amid a probe at Qingdao Port. Also, gain of 0.2 percent in inventories exerted downside pressure on prices. On the MCX, copper prices are trading lower by 0.6 percent owing to Rupee appreciation.
Oil headed for its third straight weekly loss on Friday as worries about supply losses in the Middle East and North Africa eased. Despite the turmoil in Iraq and Libya, oil markets in many consuming centers now have ample supply. In Iraq, oil exports from the southern Basra ports continue, despite fighting in the north of the country but the situation in the country is fluid. On the MCX, crude prices are trading lower by 0.06 percent at Rs.6176/bbl.
Outlook
We expect gold and silver prices to trade positive as the troubles in the Portugal bank has raised concerns in the Euro area raising bullions safe haven appeal.
Crude prices are expected to trade lower on ease of geo-political tensions and ease supply of constraints from Libya and Iraq.
Base metals are likely to trade higher on the back of strong recovery seen in the US this week. However, sharp upside will be cushioned on Chinese demand concerns.
Important Events for Today
Indicator ------------------------Country Time (IST) Actual Forecast Previous Impact
FOMC Member Fischer Speaks US------ 2:00am - -------------------------- - Medium
( For any personal query mail me at support@mamatainfotech.com or call me at +91 9932242442, 9932461166 )
Keyword: mcx gold silver current price, mcx gold silver live rates, mcx live rates software free download for pc, mcx live charts software free download, mcx gold live price on mobile, mcx live market watch software download, live mcx commodity prices, mcx copper live price
Commodity Unit Support2----Support1----CMP----Resistance1----Resistance2
Gold Aug’14 Rs/10gm----28110----28230----28340----28460----28590
Spot Gold $/oz----1324----1331----1337.5----1345----1353
Refresh MCX Gold Live 10 minute Intraday Chart with automatic Buy and Sell Signal
Silver Sept’14 Rs/kg----45500----45850----46110----46400----46750Spot Silver $/oz----21.05----21.25----21.43----21.62----21.84
Crude Oil July’14----Rs----/bbl----6100----6130----6167----6190----6220
Nymex Crude Oil Aug’14 $/bbl----101.4----101.95----102.55----103----103.6
Natural Gas July’14 Rs/mmbtu----243----246----249.8----252----255
LME Copper $/tonne----7035----7090----7131----7195----7250
Copper Aug’14 Rs/kg----430----433----435.2----439----442
Zinc July’14 Rs/kg----135----135.8----136.5----137.4----138.2
Lead July’14 Rs/kg----129.6----130.5----131.25----132.1----133
Aluminum July’14 Rs/kg----113.5----114.3----115.05----116----116.8
Nickel July’14 Rs/kg----1129----1142----1154----1167----1180
International Commodities
News and Analysis
- China’s copper imports dropped to 350,000 tonnes in June.
- Oil prices continue to decline on easing supply concerns.
- LME Copper inventories gained 0.2 percent yesterday.
European markets are trading on a positive note as investors bet that the concerns regarding Portugal’s biggest bank would not spread to Euro area banking crisis. Asian markets are trading on a mixed note and the US stock futures are trading in the green.
Spot gold continues to trade near its highest in almost four months on Friday and was on track for a sixth straight weekly gain as troubles at a Portuguese bank hammered equities and stoked safe-haven demand for bullion. Gold is getting a boost along with other safe-havens such as the Japanese yen and bonds, as European and U.S. stock markets fell on Thursday on investor fears over financial troubles at the family-owned holding companies behind Banco Espirito Santo. On the MCX, gold prices are trading marginally lower by 0.6 percent at Rs.28317/10gms.
Spot silver prices are also trading higher in line with strength in bullion prices. Weakness in the base metals pack and lower interest rate in the US for a longer period of time has brought speculators back in action. On the MCX, silver prices are down by 0.1 percent trading at Rs.44776/kg in contrary to the strength in international markets.
Base metals on the LME are trading on a mixed note today on the back of mixed global market sentiments owing to concerns regarding health of Portugal's biggest bank. However, declining trend in the LME inventories along with weakness in the DX restricted sharp fall. Zinc gained by around 0.2 percent as stockpiles are at the lowest level in more than three years thereby fuelling concern that demand for the metal might exceed supply. MCX base metals traded mixed in line with international trend.
LME Copper prices declined 0.5 percent today as China’s copper imports dropped to the lowest since April last year to 350,000 tonnes in June as demand for the metal as collateral to obtain credit eased amid a probe at Qingdao Port. Also, gain of 0.2 percent in inventories exerted downside pressure on prices. On the MCX, copper prices are trading lower by 0.6 percent owing to Rupee appreciation.
Oil headed for its third straight weekly loss on Friday as worries about supply losses in the Middle East and North Africa eased. Despite the turmoil in Iraq and Libya, oil markets in many consuming centers now have ample supply. In Iraq, oil exports from the southern Basra ports continue, despite fighting in the north of the country but the situation in the country is fluid. On the MCX, crude prices are trading lower by 0.06 percent at Rs.6176/bbl.
Outlook
We expect gold and silver prices to trade positive as the troubles in the Portugal bank has raised concerns in the Euro area raising bullions safe haven appeal.
Crude prices are expected to trade lower on ease of geo-political tensions and ease supply of constraints from Libya and Iraq.
Base metals are likely to trade higher on the back of strong recovery seen in the US this week. However, sharp upside will be cushioned on Chinese demand concerns.
Important Events for Today
Indicator ------------------------Country Time (IST) Actual Forecast Previous Impact
FOMC Member Fischer Speaks US------ 2:00am - -------------------------- - Medium
( For any personal query mail me at support@mamatainfotech.com or call me at +91 9932242442, 9932461166 )
Keyword: mcx gold silver current price, mcx gold silver live rates, mcx live rates software free download for pc, mcx live charts software free download, mcx gold live price on mobile, mcx live market watch software download, live mcx commodity prices, mcx copper live price
