MCX COMMODITY GOLD UPDATES

MCX GOLD INTRADAY TIPS TREND

MCX commodity updates today includes Gold updates and NCDEX commodity updates will cover mentha oil latest news and updates. MCX Gold is in long- short-medium- short- term bull phase .Currently Gold is moving sideways. The oscillator is showing SELL signal .In last 1 month volatility is very less Buy the Gold above 28539 or buy with strict stop at 27356. The oscillator is showing SELL signal For short term Gold is in HOLD SHORT position.

Gold Support and Resistance :- Support for the Gold is 27934-27868-27857-27821. Resistance for the Gold is 28202-28223.

NCDEX Commodity Updates (Mentha Oil Trend)

Mentha oil futures extended uptrend this week on active buying by the traders on the back of firm spot demand from the pharmaceutical industries and on weak arrivals from the fresh crop. Improved buying by the market participants anticipating lower stocks till fresh arrivals is likely to support Mentha prices in the coming week. Sharp upside in the prices may however be capped on account of better mentha sowing prospects.

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MCX Commodity Updates ~ Gold,Silver,Copper,Crude Tips

MCX GOLD TREND :- Spot gold prices declined around 0.4 percent on Thursday on the back of a stronger dollar coupled with choppy sentiments in the global markets. Additionally, fall in crude oil prices also affected the inflation-led demand for gold yesterday. The yellow metal touched an intra-day low of $1627/oz and  ended its trading session at the level of $1642/oz  on Thursday.  However,  MCX Gold April contract  rose around 0.2 percent  on account of a weaker Rupee and hit an intra-day high of Rs27,937/10 gms yesterday

MCX CRUDE OIL TREND :- Nymex crude oil prices declined  sharply around 1.8 percent  on Thursday on the back of unfavorable economic data from the Euro one front and China. This increased worries over global economic growth and in turn escalated global oil demand concerns which also acted as a negative factor for oil prices. Crude oil prices touched an intra-day low of $104.50/bbl and closed at $105.40/bbl in yesterday’s trading session. On the MCX, oil prices declined by 0.5 percent and closed at Rs. 5418/bbl after touching an intra-day low of Rs.5401/bbl on Thursday.

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