Commodity Trend Today
MCX Gold price reached a new high of Rs 30,700. domestic market Gold prices also got support of boom in International market. Federal Reserve indicated to come QI -3 in U.S. Chinese Central Bank Governor also made it clear that changes in interest rates and Bank Reserve Requirements are still considerable scope such as crude oil and base metals have accelerated.
Crude oil has also risen. On MCX, crude oil prices have gone beyond Rs 5,400. Brent crude on the ICE Naimaks $ 98 on crude oil is trading above $ 115. Mainly from decreases in crude oil reserves in the U.S. has grown rapidly.
Base Metals has gained momentum beacuse of Estimates of stimulus and Dollar weakness. MCX Copper including all metals are trading up nearly 0.5%. London Metal Exchange (LME) Copper price rose nearly 1 % and it has gone beyond $ 7650.
MCX Commodity Tips Today
Gold October Futures Buy - 30 510, stoploss - 30 380, target - 30 740.
Silver September futures Buy - 56100, target – 56800, stoploss - 55 700.
Crude oil September futures Buy - 5390, stoploss - 5356 target – 5450.
Copper August futures Buy - 5390, target – 5450 stoploss – 5356.