Commodity Market News, MCX Market Tips

Gold

Last week, spot gold prices rose by 1.8 percent to close at $1337.2 per ounce after the U.S. Federal Reserve's decision to keep interest rates on hold sent the dollar to its lowest level since the start of last week. MCX gold prices will trade higher in line with international trends.

On the MCX, gold prices rose by 1.2 percent to close at Rs.31281 per 10 gms.

Silver

Spot silver prices rose by 2.7 percent last week to close at $19.7 per ounce in line with rise in gold prices and weakness in dollar index.

On the MCX, silver prices rose by 1.7 percent to close at Rs.46817 per kg.

Daily commodity market news with trading recommendations with accuracy and full support on mcx market tips service.

Crude Oil

WTI oil prices rose by 1.7 percent last week to close at $44.5 per barrel boosted as U.S. government data showed a surprising crude inventory drop. U.S. Energy Information Administration (EIA) showed that crude stockpiles fell 6.2 million barrels last week, bringing the draw to more than 21 million barrels for this month.

On the MCX, oil prices rose by 2.8 percent to close at Rs.2978 per barrel. On the MCX, oil prices are expected to trade higher today as international markets are higher 0.7 percent at $44.80 per barrel.

MCX Market Tips, Commodity Market Report

Gold

On Wednesday, spot gold prices rose by 1.66 percent to close at $1336.5 per ounce extending gains after the U.S. Federal Reserve held interest rates unchanged but sent a strong signal for monetary policy tightening before the end of 2016. "The case for an increase in the federal funds rate has strengthened," the U.S. central bank said in a statement following a two-day policy meeting. On the MCX, gold prices rose by 0.91 percent to close at Rs.31205 per 10 gms.

Silver

Spot silver prices rose by 2.8 percent on Wednesday to close at $19.8 per ounce in line with rise in gold prices and weakening dollar index. On the MCX, silver prices rose by 2.23 percent to close at Rs.47169 per kg.

Best advisory company presents mcx market tips which includes bullion, base metal and energy updates with trading advice, it also give best mcx support and resistance level.

Outlook

On an intraday basis, we expect gold prices to trade higher as US Federal Reserve has stand pat on the policy rate and signaled the possibility by end of 2016. Besides, weakening dollar will also act as a positive factor for the yellow metal. On the MCX, gold prices are expected to trade higher today although international markets are trading lower by around 0.3 percent trading at $1332.72 per ounce.

MCX Market Tips, Oil Prices Fall

Oil prices fell about 1 percent on Monday as Iraq's production rose and Iran said it would only cooperate in producer talks to freeze output if fellow exporters recognised its right to fully regain market share. International Brent crude oil futures were trading at USD 49.40 per barrel at 0145 GMT, down 52 cents, or 1.0 percent, from their previous close. 

U.S. West Texas Intermediate (WTI) crude futures were down 58 cents, or 1.2 percent, at USD 47.06 a barrel. 

MCX Market Tips INTERNATIONAL MARKET UPDATE

GOLD $ 1319.95

SILVER $ 18.430,

COPPER $308.00,

CRUDE OIL $ 47.04,

INR 67.155.

INTERNATIONAL MARKET UPDATE

GOLD $ 1337.50

SILVER $ 20.390

COPPER $330.15

CRUDE OIL $ 46.38

INR 67.141

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MCX Trading Tips with Support and Resistance Level

MCX SUPPORT & RESISTANCE LEVEL BY TRADEINDIA RESEARCH

GOLD JUNE FUTURE 

R2 –32440 

R1 -31925

S1-31267

S2-31500

SILVER JULY FUTURE 

R2 –49311 

R1- 48900

S1-46500 

S2-46000 

CRUDE OIL JUNE FUTURE 

R2 –3350 

R1-3320

S1-3210 

S2-3160

COPPER JUNE FUTURE 

R2 –340.50 

R1-336.50

S1-328

S2-322

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MCX Trading Tips with Performance of Crude in June

Crude falls 3%, but ends June with one of strongest quarters in 7 years

Crude futures retreated from two-week highs on Wednesday, amid heavy profit taking, but still ended the second quarter with one of its strongest three-month rallies in seven years, amid a host of global supply disruptions in recent weeks. 

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Free MCX Tips with Latest News of Crude Oil

Crude Oil to trade in 3099-3319

Crude Oil trading range for the day is 3099-3319.    

Crude oil gained amid a looming strike in Norway threatened to cut output in Western  Europe's biggest producer.    About 755 Norwegian workers on seven oil and gas fields could go on strike from  Saturday, hitting output if a new wage deal is not agreed before a Friday deadline.    Combined oil output was about 285,000 barrels per day in the first four months of the  year. 

MCX SUPPORT & RESISTANCE LEVEL 

CRUDE OIL JUNE FUTURE

 R2 –3480

R1-3400

S1-3235

S2-3140

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Free MCX Tips and News about Crude Oil

Oil prices rise on Norway strike threat; Brexit shock fades

Oil rose early on Wednesday as financial traders poured money back into commodities following the initial shock of Britain's vote to leave the European Union, and as a potential strike in Norway and crisis in Venezuela threatened to cut supply. International Brent crude futures were trading at USD48.76 per barrel at 0019 GMT (08:19 p.m. EDT), up 18 cents from their last settlement. US West Texas Intermediate (WTI) crude was up 30 cents at USD48.15 a barrel. Both crude oil benchmarks had climbed on Tuesday after financial markets shook off some of the shock of last week's referendum in Britain in which most voters elected to exit the EU, triggering turmoil across markets and regions.

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Free MCX Tips with MCX SUPPORT & RESISTANCE LEVEL

GOLD JUNE FUTURE 

R2 –32418

R1 -31948

S1-31260

S2-30750

SILVER JULY FUTURE 

R2 –43250

R1- 42750

S1-42000

S2-41622

CRUDE OIL JUNE FUTURE 

R2 –3325

R1-3238

S1-3060

S2-3001

COPPER JUNE FUTURE 

R2 –325

R1-320

S1-310

S2-305

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MCX Trading Tips with Crude Oil News Update

Oil prices rise on looming Norway strike; Brexit still weighs

Oil prices rose in early trading in Asia on Tuesday as a looming strike in Norway threatened to cut output in western Europe's biggest producer, although Britain's vote to leave the European Union was still weighing on markets. About 755 Norwegian workers on seven oil and gas fields could go on strike from Saturday, hitting output from the North Sea's top producer, if a new wage deal is not agreed before a Friday deadline.

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MCX Trading Tips with News on Crude Oil

Oil prices fall as Brexit lingers, refined products glut looms

Oil prices dropped on Monday, extending sharp declines after Britain's vote to leave the European Union sparked a sharp selloff in global markets on Friday. Global financial markets plunged on Friday as results from a referendum defied bookmakers' odds to show a 52 percent to 48 percent victory for the campaign to leave a bloc Britain joined more than 40 years ago. Brent crude futures were down 15 cents at USD 48.26 a barrel by 0238 GMT on Monday, after settling down USD 2.50, or 4.9 percent, at USD 48.41 on Friday. US crude was down 25 cents at USD 47.39 a barrel, after closing down USD 2.47, or 4.9 percent, on Friday.

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Free MCX Tips with Gold News

Spot gold up 1%, investors seek safe-haven after 'Brexit' vote 

Spot gold prices climbed more than 1 percent on Monday as aftershocks from Britain's vote to leave the European Union pushed investors towards the safe-haven asset. The result of the British vote forced the resignation of Prime Minister David Cameron and dealt the biggest blow since World War Two to the European project of forging greater unity.

Spot gold had risen 1.30 percent to USD 1,332.55 an ounce by 0055 GMT, after touching a high of USD 1,335.30 earlier in the day. Bullion prices surged by 4.8 percent in the previous session to top out at USD 1,358.20 - the highest since March 2014.

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How Britain Votes Effect on Oil Market

World oil costs dove over USD 2.00 a barrel on June 24 in the midst of a surging dollar and financial markets turmoil after Britain's shock vote to leave the European Union.

Around 1440 GMT, both the US and London benchmark crude futures contracts were down four percent or more, subsequent to having ripped at back sharper losses from prior in the day.

Britain's historic vote to pull back from the European Union sent shivers through worldwide markets today in the midst of worries about the decision's negative effect on the worldwide economy.

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Free MCX Tips with Commodity News

Oil dives as early vote results indicate a Brexit

Asian currency and stock markets swung wildly as the early results in the high-stakes referendum showed the camp favouring an exit leading those who want the country to remain. 

World oil prices dived in Asia today after early results of a historic vote showed Britain increasingly moving to bolting out of the European Union.

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