Mcx Tips For Today : Gold, Copper, Zinc Trend

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MCX Gold Updates and trend :- Gold futures may trade on the higher side amid weak industrial data released in the US on Tuesday. If rupee depreciates against dollar, gold prices will move up in the Indian market.On the Multi Commodity Exchange, August contract closed at Rs 29,964. It may trade in a range between Rs 29,900 and Rs 30,050 per 10 gram. MCX Gold regained strength on Wednesday, although concerns European leaders would fail to come up with concrete measures to solve the region's debt crisis could prompt a flight to the safety of the US dollar and dent bullion. 

MCX Copper trend :- Copper is likely to trade with negative momentum during the morning session on Wednesday, 27th after obtaining modest gains a day before. Investors are reluctant to take new long positions as the perpetual spike in Spain bond yields are dashing the hopes of a concrete plan from the EU summit this weekend. Also, the impending expiry of June contracts tomorrow might pressurize the metals. Copper is likely to find support at Rs. 414.2 per kg and Rs. 412.2 per kg and resistance at Rs. 420 per kg and Rs. 423 per kg. 

MCX zinc levels :- MCX Zinc is likely to find support at Rs. 101.3 per kg and Rs. 100.9 per kg and resistance at Rs. 102.3 per kg to Rs. 103 per kg. 

MCX tips for today :- MCX crude oil July contract around Rs 4,490 per barrel levels with a stop loss below Rs 4,430 per barrel for an upside target of Rs 4,690. 

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