MCX Market View for 01.02.2013

MCX Gold

International Gold traded one dollar higher than Yesterday MCX closing price.Gold extended the longest run of monthly losses since May.It made loss due to report of U.S. employers added jobs last month & reducing the appeal of bullion as a haven.

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.

Yesterday(31.01.2013) MCX April contract Gold Closing price 30580.MCX Gold Support at 30470,nearby next support is 30413.Last month Gold February contract made low of 30370.Probably MCX April gold also may take support from there.

Yesterday Indian rupee strong against Dollar made biggest loss in MCX gold.

Gold  as per MCX & International Chart technically weak only.

MCX Gold Resistance  30647,30710,30840

MCX Gold Support       30470,30310,30230

  Yesterday(31.01.2013) MCX Gold Bhav Copy for Data Reference

Commodity	Contract	Open	High	Low	Close
GOLD	5-Feb-13	30200	30248	29794	29871
GOLD	5-Apr-13	30840	30910	30536	30580
GOLDM	5-Feb-13	30220	30258	29831	29909
GOLDM	5-Mar-13	30610	30650	30260	30308

MCX Silver

Silver also traded nearly 10 cents higher from Yesterday MCX closing price.The metal is still up 0.7 percent this week as sales of American Eagle silver coins jumped to a monthly record in January.

Yesterday(31.01.2013) MCX Silver Closing price 57849

MCX Silver made low of 56805 at last month(January).Bollinger lower band at 57430.

MCX Silver Resistance   58030,58190,58427

MCX Silver Support        57554,57276,56960

Yesterday(31.01.2013) MCX Silver Bhav Copy for Data Reference

Commodity	Contract	Open	High	Low	Close
SILVER	5-Mar-13	59051	59084	57472	57849
SILVER	4-May-13	60466	60466	58880	59261
SILVERM	28-Feb-13	59069	59099	57502	57875
SILVERM	30-Apr-13	60399	60470	58910	59283
SILVERMIC	28-Feb-13	59030	59098	57511	57872
SILVERMIC	30-Apr-13	60350	60461	58900	59287

MCX Crude Oil

Crude Oil traded 5 cents higher from Yesterday MCX Closing level.

Yesterday(31.01.2013) MCX Crude oil Closing price 5202

MCX Crude oil closed below strong support at 5204.

MCX Crude oil Resistances    5214,5224,5236
MCX Crude oil Supports         5191,5179,5156

Yesterday(31.01.2013) MCX Crude oil Bhav Copy for Data Reference

Commodity	Contract	Open	High	Low	Close
CRUDEOIL	19-Feb-13	5207	5227	5173	5202
CRUDEOIL	19-Mar-13	5257	5270	5218	5247

MCX Copper

Copper trading one dollar lower than yesterday MCX closing price.Copper advanced, set for a weekly gain, as data showed manufacturing in China expanded for a fourth consecutive month, fueling optimism that demand for the metal may improve in the world’s largest user.The rally in the copper price this month is driven by the expectation of a better global economy this year.

Yesterday(31.01.2013) MCX Copper Closing price 440.05

Yesterday(31.01.2013) MCX Copper Bhav Copy for Data Reference

Commodity	Contract	Open	High	Low	Close
COPPER	28-Feb-13	441.4	444.9	439.05	440.05
COPPERM	28-Feb-13	441.9	444.85	439.15	440.05

                                                                                                                                                                                                                     

MCX Copper Resistances     441.70,443.60,446.00
MCX Copper Supports          438.80,436.30,434.60

Today,U S Unemployment rate,ISM Manufacturing PMI these data s drive the market in Evening.

Related Links:

• MCX Live Rates
• MCX Trading with Pivot Levels
• MCX Copper,Lead,Zinc,Nickel,Aluminium Lifetime high &low

• MCX Commodities Weekly Supports Resistances for Jan'28'2013

• MCX Intraday Calculator/Commodity/Nifty Calculator