MCX GOLD NEWS and UPDATES 31 July

MCX Gold news today, gold updates, gold trading tips, MCX commodity trend today, NCDEX trading tips, MCX copper crude nickel tips, aluminium tips, zinc updates

HSBC in its reports stated that if rains do not improve, physical gold demand in India could be hit. The global gold prices advanced below $1,620 an ounce on Monday, taking its cue from a weaker euro ahead of key central bank meetings this week, as investors weighed up the prospect of the European Central Bank taking fresh measures to combat the euro zone debt crisis.

MCX Gold Support and Resistance

R3-29,835, R2- 29,818, R1- 29,802, S1- 29,774, S2- 29,758, S3- 29,741

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MCX COMMODITY TIPS ~ Gold, Zinc Updates

MCX Gold Trend

MCX Gold August futures prices opened today at Rs 30161. It is trading almost flat today at Rs 30143 up by 0.10%, against its previous closing of Rs 30113 per 10 grams.Gold investors will be closely watching US data in the Q2 for clues as to the likelihood of QE3, which could potentially hurt the dollar and support Gold. Technically Gold is still looking strong on charts but short term correction or profit booking cannot be ruled out.

Intraday Gold Tips

Intra-day traders advised to Sell MCX Gold August future below Rs. 30100 with Stop Loss of Rs. 30150 and Target of Rs. 30050.

MCX Zinc Trend Today

Technically on daily charts, MCX Zinc is forming rounding bottom and may give break out above 105.45. This level got tested 3 times in last 6 trading sessions indicating that it is a strong resistance and a break out above this level will give significant upmove.

Intraday Zinc Tips

Intra-day traders advised to Buy MCX Zinc May future above Rs.105.45 with target of Rs.106 and Stop loss of Rs.104.90.

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MCX Commodity Trading Tips

MCX Commodity trading tips today includes MCX gold trend, silver MCX trend, gold support and resistance, Silver trading tips. MCX Gold trend for today is considered to be in HOLD SHORT position Gold is in sideways so for short term better buy above 28938.0 with stop at 27730.0 The oscillator is showing SELL signal.

MCX Gold support and Resistance :- Support for the Gold is 27863. Resistance for the Gold is 28293-28375-28471-28589

MCX Silver Trend :-  Silver is moving sideways so short term investor better to buy only above 61488.0 or hold with stop at 57120.0 The oscillator is showing SELL signal.

MCX Silver support and resistance :- Support for the Silver is 57407-57029-55501-55111-54855-.Resistance for the Silver is 58602. 

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