mcx tips for today

MCX Gold October as seen in the weekly chart above has opened at 31,802 levels initially made a high of 31,967 levels and
then fell sharply lower throughout the week, breaking both the supports, but finally made a low of 29,501 levels and closed
sharply lower from the previous weeks closing levels.
For the next week we expect gold prices to find Resistance in the range of 30,500 – 30,600 levels. Trading consistently above
30,700 levels would lead towards the strong Resistance at 31,500 levels and then finally towards the major Resistance at
32,970 levels.
Strong Support is now observed in the range of 29,100-29,000 levels. Multiple closing below 29000 levels or Trading
consistently below 28,900 levels would trigger an extended fall initially towards 28,050 levels, and then finally towards the
Major support at 27,342 levels.
MCX / Spot Gold Trading levels for the week
Trend: Down
S1-29,050/ $ 1290 R1-30,510 / $ 1350
S2-28,050 / $ 1253 R2-31,510 / $ 1380
Weekly Recommendation: Sell MCX Gold October between 30,500-30,600, SL-31,501, Target -29,100.

mcx tips for today

Gold
Gold jewellery exports fall 70 percent in July- GJEPC
• The Gems and Jewellery Export Promotion Council (GJEPC) said that the exports of gold have reduced by 70 percent in July due to non availability of
raw material , whereas silver exports have doubled during the same period
• The total gems and jewellery exports fell 17 percent to $2.49 billion, with gold exports falling to $441 million from $1.5 billion a year ago
gold rates

• Expectations of restart of gold imports by next week are doing rounds in the market.
• On the other hand, Silver jewellery exports surged 184 percent to $109.69 million .
Outlook
• Gold prices are expected to trade on a positive note in this week on the back of rise in physical demand coupled with increase in SPDR holdings.
• Further, weakness in the DX willsupport an upside in prices.
• Additionally, upbeat global market sentiments will act as a positive factor.
• In the Indian markets, depreciation in the Rupee will lead to positive movement in prices on the MCX.
Weekly Technical Levels
• Spot Gold : Support $1383/$1366 Resistance $1414/$1432 (CMP: $1397.10)
• Buy MCX Gold October between 31350-31300 SL-30900, Target -32,400. (CMP: Rs.31785)
mcx tips

mcxtips

Today Gold support and Resistance || intraday MCX tips, Crude oil trend for today and Lead level for 25 July
Oil prices fall on Asian trade , china slow economic down and strong US Dollar pressure result dropdown on Thursday Singapore trade. On early morning New York main contract WTI (West Texas intermediate) for September delivery fall by 57 cent at $104.82 a barrel.  On domestic commodity market crude oil open in negative side with a small loss against its previous close of 6267. On Thursday morning Crude oil for future delivery open at 6261 at MCX.

MCX Bullion is bearish after open in positive side. Today at MCX gold prices open at 27255 bit high from its last close at 27240. On morning trade gold and silver are expected to trade in down side. Today MCX silver open at 41452 on intraday trade for future delivery its previous close is Rs 41346.
Gold support and resistance

S1: 26950, S2:26850
R1: 27450, R2: 27565

MCX copper and nickel continue its worst session on Thursday morning too, today copper prices open at 419 down by 0.65 point for future delivery. Similarly nickel open in deep side at 843 its last close is 846.10.

Lead support and Resistance