MCX
SUPPORT & RESISTANCE LEVEL
Bullion Gold On Thursday, spot gold prices rose half a percent to close
at $1303.3 per ounce on account of weak dollar and uncertainty about the
outcome of a tight U.S. presidential race. On the MCX, gold prices declined by
half a percent to close at Rs.30487 per 10 gms. Free MCX Tips
GOLD
DEC FUTURE
R2–30981,
R1
-30718,
S1-30302,
S2-30108,
Silver Spot silver prices declined by 0.7 percent on Thursday to close
at $18.3 per ounce in contrary to the rise in gold prices and profit booking at
higher levels. On the MCX, silver prices declined by 1.7 percent to close at
Rs.43348 per kg.
SILVER
DEC FUTURE
R2
–44755,
R1-
44275,
S1-43085,
S2-42601,
Outlook On an intraday basis, we expect gold silver prices to trade
volatile on account of uncertain environment with regards to the US
presidential race. Besides, the FED has also kept the rates unchanged in its
recent meeting creating further uncertainty about the timing of the rate hike.
On the MCX, gold prices are expected to trade volatile, international markets
are trading lower marginally by 0.33 percent at $1299.2 per ounce. Commodity Tips
CRUDE
OIL OCT FUTURE
R2
–3185,
R1-3130,
S1-3000,
S2-2940,
Energy Crude Oil WTI oil prices declined by 1.5 percent on Thursday to
close at $44.7 per ounce as investors reeled from a record weekly surge in U.S.
crude inventories, and remained skeptical about whether OPEC can actually
implement its planned output cap. On the MCX, oil prices are expected to trade
sideways today, international markets are trading higher by 0.3 percent at
$44.79 per barrel.
COPPER
OCT FUTURE
R2
–339,
R1-334,
S1-322,
S2-316.
Copper LME Copper prices traded higher by 0.8 percent at $4960/tonne as
China’s Caixin October services PMI surged to 52.4, the fastest growth for
business activity at services companies in four months. Earlier this week,
China's official Purchasing Managers' Index (PMI) for October expanded at the
fastest pace in more than two years. MCX copper prices traded higher by 1.1
percent to close at Rs.331.9 per kg on Thursday. Free Commodity Tips
INTERNATIONAL MARKET
UPDATE
GOLD $ 1299.55.
SILVER $ 18.252,
COPPER $331.95,
CRUDE OIL $ 44.79,
INR 66.8728.
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