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MCX bullion tips for today,MCX base metal tips,free mcx lead tips,cardamom updates today,gold silver tips by sms
MCX Gold Trend Today :- Spot gold prices traded weak in the early part of the session due to weak global market sentiments but settled 0.3 percent higher on expectations that US Federal Reserve might take steps to boost the economy afte r eyeing weak economic data from US. However, sharp upside in the prices was capped due to strength in the DX.
The yellow metal touched an intra-day high of $1,584/oz and settled at $1,579/oz on Tuesday. In the domestic markets MCX gold prices gained by 0.4 percent due to depreciation in the Indian rupee. Prices touched an intraday high of Rs.29,584/10gm and closed at Rs.29,568/10gm in yesterday's session.
MCX Crude Oil Updates :- We expect crude oil prices to trade on sideways note on the back of decline in US and European manufacturing PMI, Chinese economy to grow at slower pace along with strength in the DX. While on the other hand, expectations of decline in US crude oil inventories coupled with Middle East tensions will support upside in prices.
MCX Silver trend Updates :- Tracking bearishness in the base metals pack along with weak global market sentiments spot silver prices declined 0.1 percent in yesterday's trade. Additionally, strength in the DX also pressurized prices on the downside.
The white metal touched an intraday low of $26.59/oz and closed at $26.95/oz on Tuesday. In the Indian markets silver prices declined 0.1 percent tracking spot prices and settled at Rs.52,828/kg after touching a low of Rs.52,570/kg in yesterday's session. However, depreciation in the Indian rupee cushioned sharp fall in the prices.
Expert Analysis :- We expect precious metals to trade with bearish note due to strength in the DX along with bearish global sentiments in today's session. However, depreciation in the Indian markets will cushion sharp fall in the precious metals on MCX.
MCX Tips for today :- MCX Zinc July short - levels of Rs 102.50-103 per kilogram with a stop for this trade around Rs 104 per kilogram for targets of Rs 100-98 per kilogram.
MCX Silver tips - sell in silver between Rs 52,900-53,000 per kilogram with a stop loss of RS 53,200 per kilogram for a target price of Rs 52,500-52,300 per kilogram.
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