Mcx tips Free Bullion Trading Tips

Currently, Domestic commodities markets are trading with positive note. Most of the indices are showing upward trend on Multi Commodity Exchange (MCX) except MCXENERGY. At MCX futures, MCXCOMDEX is trading at 3,475.56 (up by 0.59%), MCXMETAL is trading at 4,465.20 (up by 0.11%), MCXAGRI is trading at 2,895.20 (up by 6.46%), and MCXENERGY is trading at 3,123.86 (down by 1.27%). (At 05:25 PM today).

At NCDEX, the Dhaanya, an agri commodity index, closed at 1,147.80, down by 0.04% (At 05:00 PM today).

On the domestic front, turmeric futures prices rebounded due to increased buying by the stockiest in order to meet rising domestic and export demand. Moreover, fall in supplies from the major producing regions also kept the prices in the positive zone today. At National Commodity & Derivative Exchange (NCDEX), April future closed at Rs. 10,100.00 per quintal, up by 2.35%. (At 05:00 PM today).

The top gainers at MCX are Lead for May contract (3.52%), Lead M for May contract (3.44%), Copper for August contract (2.70%), Zinc for May contract (2.11%) and Aluminium for May contract (2.07%). (At 05:15 PM today).

The top losers at MCX are Potato TRWR for March contract (-4.00%), Cardamom for April contract (-4.00%), Cardamom for March contract (-4.00%), Mentha oil for May contract (-3.99%) and Cardamom for May contract (-3.98%). (At 05:14 PM today).

The top gainers at NCDEX are Kapas for March contract (2.5%), Turmeric for April contract (2.4%), Chilli for June contract (2%), Nickel for March contract (1.7%) and Turmeric for June contract (1.6%). (At 05:12 PM today).

The top losers at NCDEX are Light sweet crude oil for April contract (-2.6%), Natural gas for March contract (-2.1%), Cotton seed oilcake for June contract (-1.8%), Coriander for May contract (-1.8%) and Potato for June contract (-1.8%). (At 05:11 PM today).

At Multi Commodity Exchange (MCX), Zinc future for March contract traded at Rs. 113.95 per kg, up by 0.22%, after opening at Rs. 113.60 against the previous close price of Rs. 113.70. It touched the intra-day low of 113.00 till the trading. (At 05:08 PM today).

Copper for April contract, at MCX, is trading at Rs. 450.85 per kg (down by 0.10%) after opening at Rs. 450.45 against the previous close price of Rs. 451.30 with intra-day low of Rs. 446.40 till the trading. (At 05:07 PM today).

At Multi Commodity Exchange (MCX), natural gas future for March contract is trading at Rs. 181.80 per mmBtu, down by 2.10%, after opening at Rs. 185.50 against the previous close price of Rs. 185.70 per mmBtu. It touched the intra-day low of Rs. 181.60 till the trading. (At 05:06 PM today)

On the domestic front, crude oil futures are trading with negative note due to tracking weak cues from the global market. March future dropped as much as 1.53% to Rs. 4,376.00 per barrel on the back of speculation that Saudi Arabia can increase oil production in order to offset supply shortage in the region. Saudi Aramco, world’s largest state oil company, is ready to compensate for any deficit in crude supply due to prevailing unrest in Middle East nations, according to statement of Chief Executive Officer Khalid Al-Falih. However, Saudi Arabian Oil Minister Ali al-Naimi said on February 22, 2011 that his country and OPEC members will cover the any shortfall in oil production.

At Multi Commodity Exchange (MCX), crude oil future for March contract is trading at Rs. 4,383.00 per barrel, down by 1.37%, after opening at Rs. 4,440.00 against the previous close price of Rs. 4,444.00. It touched the intra-day low of Rs. 4,376.00 till the trading. (At 05:03 PM today).

Today, crude oil futures will take cues from the global market as the Institute for Supply Management (ISM) manufacturing index has scheduled to release at 08:30 PM IST today. It shows business conditions in the U.S. manufacturing. It is a significant indicator of the overall economic condition in U.S. A result above 50 is seen as positive for crude oil prices, while a result below 50 is seen as negative. Investors are expecting a fall in this indicator by 0.3 points to 60.5 in February from 60.8 in January.

On the international front, China’s manufacturing expanded at the sluggish rate in six months in February, according to report released by the China Federation of Logistics and Purchasing (CFLP) today. Country’s manufacturing PMI fell to 52.2 in February from 52.9 in January. The indicator reflects the business conditions of the Chinese manufacturing sector.

Gold prices surged in New York due to political tensions in Libya and other parts of Middle East, boosting the investment appeal in precious metals as a protection of wealth. April future advanced as much as 0.74% to $1,420.4 per ounce on the COMEX today on fear of spreading unrest in other part of Middle East. 

Moreover, increase in Chinese demand for gold also supported the prices, as China imported more than 300 metric tons of gold last year, People’s Bank of China Vice Governor Yi Gang said on Feb. 26 in Beijing.

At COMEX, gold future for April contract is trading at $1,418.5 per ounce, up by $8.6, after opening at $1,411.6 against the previous close price of $1,409.9 per ounce. It touched the intra-day high of 1,420.4 with a business volume of 21,030 lots till the electronic trading. (At 04:57 PM today).

At Multi Commodity Exchange (MCX), silver future for March contract is trading at Rs. 50,007.00 per kg, up by 0.31%, after opening at Rs. 50,000.00 against the previous close price of Rs. 49,850.00 per kg. It touched the intra-day low of Rs. 49,751.00 till the trading. (At 04:55 PM today).

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Currently commodities markets in India are trading on a hyphenated note. At MCX futures, MCXCOMDEX is trading at Rs. 3,415.22, up by 0.13 %, MCXMETAL is trading at Rs. 4,367.36, down by 0.20%, MCXENERGY is trading at Rs. 3,069.49, up by 1.26 %, and MCXAGRI is trading at 2,883.75, down by 1.30%. (At 03:00 P.M. today).

At NCDEX, the Dhaanya, an Agri commodity benchmark index, is currently trading at 1,169.77, down by 0.64% (At 03:00 P.M. today).

The top gainers at MCX are Potato TRWR for March contract (3.56%), Potato TRWR for April contract (3.27%), Potato TRWR for May contract (1.16%), Crude Oil for March contract (1.11%), Crude Oil for July contract (2.32%), Mentha Oil for February contract (1.02%), and Mentha Oil for March contract (0.99%).

Similarly the top losers at MCX are CPO for May contract (-3.46%), CPO for April contract (-3.36%), CPO for March contract (-3.28%), CPO for February contract (-3.01%), and Cardamom for June contract (-3.00%).

The top gainers at NCDEX are Chilli for April contract (1.9%), Chilli for March contract (1.5%), Turmeric for April contract (1.4%), Light Sweet Crude Oil for March contract (1.2%) and Turmeric for May contract (1.0%).

Similarly the top losers at NCDEX are Kapas for March contract (-3.4%), Castor Seed for April contract (-3.0%), Castor Seed for March contract (-3.0%), Ref Soya Oil for June contract (-3.0%) and Castor Seed for May contract (-2.9%).

On the domestic arena, at MCX, Crude Oil for August contract is trading at INR 4,612.00 per BBL as against its Previous close price of INR 4,600.00 (up by 2.32%). Crude Oil for July contract is trading at INR 4,585.00 per BBL as against its Previous close price of INR 4,554.00 (up by 2.59%). Crude Oil for June contract is trading at INR 4,555.00 per BBL as against its Previous close price of INR 4,515.00 (up by 2.77%). (At 2:45 P.M today). 

The world’s fourth biggest consumer of oil, India, had requested the OPEC (Oil Petroleum Exporting Countries) to keep a check and take required actions against the oil prices that have gone as high as $ 100 per barrel because of the unrest going on in the West Asia.

Gold for April contract is trading at INR 20,744 as against previous closing price of INR 20,787, down by (0.21%) along with October contract is trading at INR 21,630.00 as against its Previous close price of INR 21,635.00 (down by 0.02%). Gold for August contract is trading at INR 21,350.00 as against its Previous close price of INR 21,396.00 (down by 0.21%). Gold for June contract is trading at INR 21,059.00 as against its Previous close price of INR 21,106.00 (down by 0.22%). (At 2:45 P.M today). 

After a decline in the prices in Asian trade on Tuesday, Gold prices again gained recovery as the Arab world crisis gave its continued support to this gilt-edged metal. Spot gold was trading at $ 1,396.37 per ounce at 1:00 P.M. Singapore time, while Futures for April delivery was spotted at $ 1,398.29 per ounce.

Silver for September contract is trading at INR 50,805.00 as against its Previous close price of INR 50,776.00 (up by 0.06%). Silver for July contract is trading at INR 50,449.00 as against its Previous close price of INR 50,502.00 (down by 0.10%). Silver for May contract is trading at INR 50,046.00 as against its Previous close price of INR 50,047.00. (At 2:45 P.M today).

Cardamom for June contract is trading at INR 1,173.80 as against its Previous close price of INR 1,210.10 (down by 3.00%). Cardamom for May contract is trading at INR 1,187.00 as against its Previous close price of INR 1,219.50 (down by 2.67%). Cardamom for April contract is trading at INR 1,173.30 as against its Previous close price of INR 1,208.20 (down by 2.89%) (At 2:50 P.M today).

Copper for June contract is trading at INR 441.20 as against its Previous close price of INR 442.95 (down by 0.40%). Copper for April contract is trading at INR 436.80 as against its Previous close price of INR 439.25 (down by 0.56%). Copper for February contract is trading at INR 431.10 as against its Previous close price of INR 433.85 (down by 0.63%) (At 2:50 P.M today). 

Copper today touched a three week low, as the risk appetite among investors was seen declining on the ongoing tensions in the North Africa and the Middle East. Copper for June contract is trading at INR 441.20 as against its Previous close price of INR 442.95 (down by 0.40%) at MCX.