Crude oil prices have been rising and Brent’s price is upwards of $ 55 in the global market. Indeed, in August, Saudi Arabia’s crude exports have come down. Although the production of shell Crude is estimated to increase in the US The pressure from the upper level has also started. Today, the rupee has a weak rupee against the dollar and the price of 1 dollar is upwards of 64 rupees.
Crude oil on MCX is looking bullish on chart and It is trading around Rs. 3200 with 0.2 percent weakness.
@ Buy MCX Crude Oil September future above 3200 targets 3225, 3250 Stop loss 3173.
Before the US Federal Reserve meeting starting tomorrow, the pressure in Gold has increased and its price has come down to a 2-week low. Gold is commuting around $ 1316 on Commands. The dollar is at a seven-week high compared to the yen. There is also pressure on gold prices. Gold at MCX is showing a weakness of 0.4 percent around Rs. 29730. At the same time, silver is falling by 0.4 percent to Rs 40,634.
Bullion Gold Silver Tips for Today
Gold Tips: Sold MCX Gold October future around 29750 to 29730 targets 29685, 29640 Stop loss 29825.
MCX Silver Tips : Sold MCX Silver December future between 40650 to 40630 targets 40530, 40430 Stop Loss 40751.
North Korea tension has increase again, the equation of commodity market has worsened again and crude oil has risen sharply yesterday and crude for Nymax went above $ 50. Although there is some pressure from the upper level today. Brent also has a slight decline from the upper level of 5 months. However, this week Brent crude has risen 3% and the price of NYMAX crude has gone up by about 5%. At the same time, gold has shine again in such an environment, and it has gone up to $ 1330 at Commodity. There is also an increase in silver. But on the London Metal Exchange, flat metal is trading in the base metal. Copper prices slumped to a one-month low of yesterday after the demand in China declined.
On MCX, Gold is showing a weakness of 0.4 percent and Rs 29,999. At the same time, MCX Silver is falling by 0.05 percent to Rs 41121. Crude oil on MCX is down 0.7 percent to Rs 3192. On the other hand, Natural gas is falling 0.6 percent to around 195 rupees.
@ Sold MCX Gold October below 29,999 targets 29935, 29865 Stop Loss 30121.
Recovery has taken place in the base metal on the London Metal Exchange and the price of lead in China has jumped. At the same time, the recovery in the Dollar has increased the pressure on the rupee and the price of 1 dollar has crossed Rs 64.10.
Talking of base metals, Aluminium on MCX has come up with an increase of 0.4% to around 135 rupees. At the same time, Copper is seen below 0.25 percent below Rs 425. Lead at MCX is trading 0.07 percent and is trading around 145 rupees. At the same time, Nickel is seen below the Rs 730 with a weakness of 0.5 percent. Whereas, zinc is showing around 0.1 rupees with an increase of 0.1 percent today.
@ Sold MCX Copper November future below 425 targets 421, 418 Stop Loss 429.
@ Sold MCX Lead September future below 145 targets 144, 143 Stop Loss 146.5.