27 august evening intraday commodity updates || today MCX gold silver tips || Live MCX evening tips for today

Commodities Weekly Tracker
Monday | August 26, 2013
Silver
Weekly Price Performance
• Spot Silver prices gained around 3.2 percent in the last week, taking cues
from rise in gold prices.
• The white metal gained 5 percent on the MCX and touched a weekly high of
Rs.53620/kg on Friday before closing at Rs.53469/kg.
• Positive economic indicators from the Euro Zone, UK and the US have revived
hopes of recovery in the advanced economies.
ETF Performance
• The iShares Silver Trust rose last week by 0.3 percent to 10,555.70 tonnes as
on 23rd August 2013.
• On a year-to-date basis, holdings have gained around 4.6 percent while on a
monthly basis the holdings have jumped by more than 1 percent.
Factor affecting the silver prices
• Rise in gold prices.
• Increase in ETF holdings.
• Favorable economic data from major global economies.
Outlook
• A positive trend is expected in case of silver during the week and factors like
increase in ETF holdings and overall supportive sentiments towards precious
metals will be positive.
• In the Indian markets, Rupee depreciation will be an additional supportive
factor.
Weekly Technical Levels
• Spot Silver: Support $23.43 /$22.77 Resistance $24.60/$25.30. (CMP:$23.95)
• Buy MCX Silver September between 52,200-52,100, SL-51,400, Target -
55,100. (CMP: Rs.53,532)
18
20
22
24
26
28
30
32
38,500
43,500
48,500
53,500
58,500
MCX and Comex Silver Price Performance
MCX-Near Month Silver Futures -Rs/ k

7 august evening intraday commodity updates || today MCX gold silver tips || Live MCX evening tips for today

Commodity market turn to fully red , gold break the level and comes under 27400 and touch an intraday low of 27364 per 10 gram at MCX for future active delivery. Similarly Mcx silver for future delivery fall by more than 700 point had touch a low of 40765. More declined is being experienced in bullion prices in evening trade at MCX with volatile movement.

MCX crude oil weak on intraday trading for future delivery , today for august delivery it touch a low of 6440, Meanwhile a mixed trend is expected to trade on evening session. Dollar VS Rupees level affect the trend and forces back in downside.

Today MCX copper fall by more than 0.40 percent to 427.20 at 3:31 pm. More declination is look on copper prices for future delivery. However due to strong dollar and overseas support base metal expected to trade with a mixed trend.

Mentha oil prices make a good recovery on afternoon trade after morning bearish watch at MCX. Today for august delivery it touch a low of 842.30 and high level of 861.50.

nickel supp 835 if holds buy 

copper too