MCX Gold Updates:- Consistent
fall and weakness of the rupee against the dollar has lowered the the
demand of precious metal gold in the domestic market India, the
largest exporter of gold in the world. Now bullion traders and
investors are waiting for the monsoon. Bullion traders and investors
strongly believe that if the monsoon comes on time, chances are that
the farmers would have better crop which will enable them to spend it
on the purchase of gold. But any delay in the monsoon may enforce the
gold to trade on lower side.In international market the gold is on
weaker side. It hit the gold in the domestic market too. To balance
the trade in commodity market the governemnt has incresed the import
rate of gold by 4% which also caused the mcx gold.
MCX gold declined by 0.3 per
cent and the price has come to Rs 29,900 While mcx silver is
trading at Rs 52,670 slipped 0.2 percent.
MCX
Crude Oil Updates:- There
are moderate
fluctuations in the base metals at MCX. MCX copper is consistently
falling. According to market experts when the Euro region get rid of
ongoing trading trouble, the market may show some extra pace in the
trading.MCX Crude oil slipped by 0.35 and reached to the current
market price of 4600.MCX Zinc
gained a hike of 1.5%.Instead of these base metals the lead
nickel and aluminium witnessed
a growth of 0.5%.MCX Natural Gas
is trading at 162.40 with a weakness of more than 0.5%.
Hence after the keen market technical
analysis we recommend you following mcx trading tips for today 29
June 2012
MCX
Copper (June futures): Buy - 415, stoploss of Rs - 412 goal -
425
MCX Crude oil (April futures): Buy - 4630, stoploss of Rs - 4560 and the target – 4750
MCX Crude oil (April futures): Buy - 4630, stoploss of Rs - 4560 and the target – 4750
MCX
gold (August futures): Sell - 30000, stoploss of Rs - 30170 and the
target - 29750
MCX Silver (July futures): Sell - 53000, stoploss of Rs - 53500 and the target - 52300
MCX Silver (July futures): Sell - 53000, stoploss of Rs - 53500 and the target - 52300
MCX Nickel June buy around with a
stop loss below 920 levels and target of 942 levels.
MCX Lead June Buy around 100.50
levels with a stop loss placed below 99.50 levels for targets of 103
levels.
MCX Zinc June Buy around 101.50
levels with a stop loss placed below 100.50 levels for targets of
102.70
levels.