MCX Trade Tips

Gold MCX Trend
COMEX Gold Dec futures rise by 1.42 percent to $1,702.4 per troy ounce from $1,678.6 per troy ounce the prior day. Jitters through equally sides of the Atlantic coupled with fears of slowing down of the global economy is creating panic across the all the markets while a weaker greenback also supported the rise. Today Gold almost down by 0.65% & seems to trade in under pressure. Payrolls increased in 39 U.S. states in October, while the jobless rate dropped in 36, indicating the labor market is steadying across much of the U.S.Investment demand for the yellow metals at the SPDR Gold ETF saw an addition of 6.05 tonnes of Gold holdings the past while that of iShares Silver trust remained unchanged.

Silver MCX Updates
Now there is a range of data scheduled to release which can affect the prices of the Precious Metals Complex in the evening session of the trade. The U.S. markets will be closed tomorrow on the eve of Thanks Giving Day. MCX Silver December contract rose sharply by almost 5 percent on account of Rupee depreciation and hit an intra-day high of Rs57,180/kg on Tuesday. Today Silver is expected to trade sidewise, no correction seems in trading, prices continuously fall down.

Crude Updates
Crude oil inventories fell 5.57 million barrels to 335.7 million for the week ended 18 th Nov, 2011, the American Petroleum Institute said. Distillate fuel inventories fell 886,000 barrels to 138.1 million, the API’s weekly report showed. Gasoline stockpiles gained 5.42 million barrels to 209.6 million. Inventories at Cushing, Oklahoma, the delivery point for futures traded on the New York Mercantile Exchange, rose 791,000 barrels to 32.8 million. Today we expect crude will trade in rangbound phase, and on the other side supply concerns from Iran and expected fall in US crude oil inventories will provide support on the other hand.

To get mcx commodity tips, silver tips, gold mcx trend, commodity updates, mcx tips contact Carrot Investment

MCX Gold Tips and MCX Silver Tips for Today

MCX Gold is in a downward trend and the mcx gold tips for today is to Sell mcx live gold. The mcx gold (Dec) prices has taken resistance near 28850 level and has reversed. The mcx gold trend is also looking weak and estimated that mcx gold prices will arise up to 28300 levels.
MCX Silver price trend is also in a downtrend the prices took resistance near 55800 level and has reversed. MCX Silver trend is also looking weak and prices may come up to levels of 54100.

MCX Tips for Today On Gold Silver
MCX Gold is instructed to sell around 28750 levels with a stop loss placed above 28900 levels for a target of 28300 levels.MCX Silver is advised to sell around 55200 levels with a stop loss placed above 55800 levels for a target of 54100 levels

Yesterday Silver prices were trading higher in Chennai market, while it were down in Mumbai, Delhi, Jaipur and Ahmedabad markets.Pure silver (999 purity) was down Rs 150 at Rs 55750 in Delhi market, while in Jaipur market it was down Rs 200 at Rs 55800.

IIFL has come out with its fundamental view on Gold and Silver.

Fundamental View

Gold Prices are settled lower, suppressed by a stronger US dollar. Though, Gold prices are trading higher today, supported by reports of European officials meeting tomorrow and anticipated to sign off on rules for borrowing against the European Financial Stability Facility (EFSF), as well as guidelines for intervening in the euro-zone bond markets and providing credit lines to governments.

COMEX Gold (Dec)
Recommendation: Buy at US$1,689 TGT US$1,710 SL US$1,687

MCX Gold (Dec)
Recommendation: Buy at Rs 28,600 TGT Rs 28,900 SL Rs 28,550

Silver Prices are settled lower by 2.7% at US$31.1/ounce. Silver prices made a high of US$31.9/ounce and a low of US$31/ounce. The white metal continuous to trade on a weak note, blocked by gloomy economic backdrop. On the domestic front, MCX December Silver settled lower by 1.7% on Friday at Rs54,316/kg. Silver prices managed a high of Rs55,314/kg and a low of Rs,54,168/kg. Today, Silver prices are trading higher by 1.22% at Rs54,993/kg.

COMEX Silver (Dec)

Recommendation: Buy at US$31 TGT US$32.20 SL US$ 30.80
MCX Silver (Dec)

Recommendation: Buy at Rs 54,700 TGT Rs 55,450 SL Rs 54,100
Trade our MCX Tips & feel the difference in your Trading Make Everyday Profit on our Trade Tips

Multi Commodity Exchange of India (MCX) has received the SEBI approval for its proposed initial public offer of 64.27 lakh shares. Confirming the development a MCX spokesperson said the exchange has been asked to file offer document with the Bombay Stock Exchange and Registrars of Companies (RoC).

MCX received the SEBI nod for the third time as the exchange could not launch its IPO in 2006 and 2008 due to critical conditions of market.

The issue will at first be listed on the BSE and later on the NSE, which holds 2.45 per cent stake in MCX. Financial Technologies, the promoter of MCX, along with six other institutions will cumulatively offload 12.60 per cent stake to rise about Rs 750 crore through issue.

“The IPO may be priced at about Rs 1,200 a share as the last private placement of MCX shares with a face value of Rs 5 was done at Rs 620 a share. Now, the exchange is offering shares with a face value of Rs 10 through the IPO,” said an analyst.MCX is the sixth largest commodity exchange in the world with number one ranking in silver and number two in gold, will be the first exchange in India to go public.Financial Technologies supposed to be bring down its holding in MCX to 26 per cent from 31 per cent by September-end, recently received an extension of six months from FMC.

Indian markets have just thrown open a new opportunity for retail investors and traders to participate: commodity derivatives. People who want to diversify their portfolios beyond shares, bonds and real estate, commodities is the best option

FAQ’s on how a retail investor can get started:

Where to go for trade in commodity futures?
There are three options - the National Commodity and Derivative Exchange, the Multi Commodity Exchange of India Ltd and the National Multi Commodity Exchange of India Ltd. All are having electronic trading and settlement systems and a national presence.

How to select broker?
A number of established equity brokers have sought membership with NCDEX and MCX. The likes of Refco Sify Securities, SSKI (Sharekhan) and ICICIcommtrade.

Requirements at broker level?
One must enters into a normal account agreements with the broker which include the procedure of the Know Your Client format that exist in equity trading and terms of conditions of the exchanges and broker.

Where to look information on commodities?
Daily financial newspapers carry spot prices and related news and articles on most commodities. Also, there are specialized magazines on agricultural commodities and metals available for subscription. Brokers also provide research and analysis support. We at Carrot Investment provides you best free commodity tips and MCX Tips