MCX Gold:
International Gold climbed 4 dollars from friday s closing due to the expectations of more stimulus from U.S. lawmakers due to country’s debt limit dispute.
MCX Gold likely to climb up due to news of import duty on gold may be raised to 6 % before budget.MCX Gold is taking support at 200 days of Moving Average at 30515.Technically MCX gold may possible climb up slightly.
Indian Import duty rate hike also positive for Gold.
This week the Bank Of Japan meeting, the Euro- zone finance ministers meeting, and U.S. debt-ceiling negotiations, all of which could potentially be bullish for gold.
MCX Gold Resistance 30880,31045
MCX Gold Support 30450,30280
Silver also traded higher from Friday s closing levels. Silver traded near the highest level in a month and was set for the longest rally in a year. i Shares Silver Trust,the biggest Silver exchange-traded fund,Holdings on Jan. 16 jumped 572 metric tons, or 5.9 percent, the most since 2007, according to data on the fund’s website.
MCX Silver Resistance 59720,60240
MCX Silver Support 59220,58880
Crude Oil traded lower from Friday s Closing level. According to official data published by the Joint Data Initiative (JODI) yesterday,crude oil exports by World s Largest Producer Saudi Arabia,fell by 124,000 barrels a day (bpd) to 7.154 million bpd in November.
Crude Oil may trade lower today Technically.
MCX Crude oil Resistances 5190,5225
MCX Crude oil Supports 5136,5112
Copper rised due to improving U.S. economic data expectations that demand from the second-largest user will improve this year.But Weekly & Daily Technically likely to trade lower.
MCX Copper Resistances 441.7,447.9
MCX Copper Supports 438,435.2
Related Links:
MCX Live Rates
- MCX Trading with Pivot Levels
- MCX Commodities Weekly Pivot Supports and Resistances for Jan'21
- Commodities Weekly Pivot,Supports&Resistances for Jan'21 in International Market
- MCX Margin for 21.01.2013
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