Monday 4 February 2013

MCX Market View for 04.02.2013


MCX Gold

International Gold traded 4 dollars higher than Friday MCX closing price.Gold traded little changed after a weekly gain as investors weighed improving U.S. payrolls against a shrinking economy and continued stimulus from the central bank

Economic data around the world continue to provide mixed signals and gold will react according to market sentiment.Once Economic data positive,it negatively affects Gold Price.

Friday(01.02.2013) MCX April contract Gold Closing price 30599.MCX Gold Support at 30470,nearby next support is 30413.

Indian rupee against Dollar(USDINR) will play role to MCX Gold price trade higher.
MCX Gold Opens above 30600,it probable to give small bounce this week.MCX Gold shed 1300 points last week,it has to retrace little from lows.
MCX Gold Resistance  30647,30710,30840
MCX Gold Support       30470,30310,30230

  Yesterday(01.02.2013) MCX Gold Bhav Copy for Data Reference

Commodity
Contract
Open
High
Low
Close
GOLD
5-Feb-13
29986
30130
29829
29938
GOLD
5-Apr-13
30618
30810
30547
30599
GOLDM
5-Feb-13
29848
30129
29835
29941
GOLDM
5-Mar-13
30335
30488
30260
30297

MCX Silver

Silver trading nearly same price of Friday MCX closing price.

Friday(01.02.2013) MCX Silver Closing price 58502

MCX Silver Resistance   58740,58960,59165
MCX Silver Support       58190,58030,57880

Yesterday(01.02.2013) MCX Silver Bhav Copy for Data Reference
Commodity
Contract
Open
High
Low
Close
SILVER
5-Mar-13
57930
58945
57729
58502
SILVER
4-May-13
59330
60319
59130
59886
SILVERM
28-Feb-13
57936
58950
57750
58521
SILVERM
30-Apr-13
59200
60347
59133
59904
SILVERMIC
28-Feb-13
57909
58942
57750
58522
SILVERMIC
30-Apr-13
59325
60310
59140
59904


MCX Crude Oil

Crude Oil trading nearly same price of Friday MCX Closing level.Crude oil likely trade higher this week due to Middle east tensions.

Friday(01.02.2013) MCX Crude oil Closing price 5182

MCX Crude oil closed below strong level at 5204.

MCX Crude oil Resistances    5204,5224,5236
MCX Crude oil Supports         5169,5148,5137

Yesterday(01.02.2013) MCX Crude oil Bhav Copy for Data Reference
Commodity
Contract
Open
High
Low
Close
CRUDEOIL
19-Feb-13
5200
5215
5140
5182
CRUDEOIL
19-Mar-13
5251
5260
5188
5226

MCX Copper

Copper trading nearly same price of Friday MCX closing price.The rally in the copper price this month is driven by the expectation of a better global economy this year.

Friday(01.02.2013) MCX Copper Closing price 444.20

Yesterday(01.02.2013) MCX Copper Bhav Copy for Data Reference
Commodity
Contract
Open
High
Low
Close
COPPER
28-Feb-13
439.6
444.4
438.6
444.2
COPPERM
28-Feb-13
439.7
444.35
438.6
444.2


                                                                                                                                                                                                                    
MCX Copper Resistances     445.60,446.70,448.40
MCX Copper Supports          441.70,438.80,436.30

Today,U S Factory Orders,ISM  Non-Manufacturing PMI these data s drive the market in Evening.

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