MCX Expert Tips

Indian base materials costs can face another circular of dull start on Monday due to affordable costs on London metal Exchange amid slow physical demand and weak economic indicators from China, the U.S. and the euro zone. The markets will be looking forward to non town pay-roll numbers that can act as a induce for the metals. LME Copper was again trading below its last day ending rates. The metal was seen at $ 7347 per tonne, as against $ 7393 per tonne on Monday.

The objectives from Fed were not met once again as the company provided no symptoms for fresh incitement. The fall in PMI of Chinese suppliers previously this week already reduced the assurance of metals. Chinese suppliers formal Purchase Manager's Catalog (PMI) dropped to a eight 30 days low of 50.2 in July compared to 50.1 in the 30 days of June. Western organization Eurostat said that 17 country Dollar area lack of employment was standing at 11.2% in May. Native indian Birdwatcher is likely to start below Rs 410 per kg on MCX, that will start in a few minutes. MCX Copper shut at Rs 411.5 per kg on 2 Aug 2012, down 1.1%. MCX Dime shut at Rs 870 per kg, down 1%.

MCX GOLD
International: Major Support at USD1540. Bullish till USD1615.
Domestic: Buy above 30020, Stop loss 29940, Target 30110.

MCX SILVER
International: Major Support at USD26. Bullish above USD28.
Domestic: Buy above 53000, Stop loss 52700, Target 53300.

MCX COPPER
Domestic: Buy above 412.50, Stop loss 410, Target 415.

MCX CRUDE OIL
International: Major Support for WTI at USD82 Bullish above USD 90
Domestic: Buy above 4940, Stop loss 4910, Target 4970.

"Today MCX Commodity Tips"
GOLD Mcx Aug : -
Technical Levels
R3     29750/29830
R2     29550/29680
R1    29410/470
Pivot     29320
S1     29240/29150
S2    29020/28940
S3     28830/28710

SILVER Mcx Aug : -
Technical Levels
R3     55210/56310
R2     54100/54700
R1     53100/53600
Pivot     52700
S1     52200-52100
S2     51100/49600
S3     48400/45500

COPPER Mcx Aug: -
Technical Levels
R3     434.50/438/441
R2     432/433
R1     428/430.50
Pivot     426
S1     423/421/417
S2     411/409
S3     407/404

CRUDEOIL Mcx July : -
Technical Levels
R3     5144/5080
R2     5030
R1     4960/4920
Pivot     4820
S1     4776/4735/4705
S2     4640/4615/4575
S3     4515/4465/4365

Gold futures dropped, as traders recommended the safe home of the dollar and treasuries after some poor economic data revealed US production industry dropped more than predicted in May, the first time in almost three years.

Demand for gold from the biggest gold customer, India, stayed bad as a recent devaluation in the rupee brought up prices for local buyers.

Gold holdings of SPDR gold believe in, the biggest ETF supported by the precious metal, dropped to 1,279.50 plenty, as on June 29.

Silver holdings of ishares silver believe in, the biggest ETF supported by the metal, dropped to 9,685.70 plenty, as on June 29.

Copper prices declined by almost 1%, in line with a weaker euro as a string of bleak global macro-economic data reignited concerns over demand for the red metal.

Copper futures for Sept. delivery closed down by almost 1% at $3.468 per pound on the COMEX of the New York Mercantile Exchange.

Crude oil prices declined after a weak manufacturing data from the United States, Europe and China reinforced concerns about slowing economic growth and its threat to demand for  etroleum & its  roducts.

Natural gas futures closed on a flat note, recovering from its earlier losses driven by moderating weather forecasts.

Gold increased 4% on Friday, its greatest one-day hike of more than three years, as a amazingly poor US payrolls review added to concerns about a international economic recession and driven talk of further US financial reducing.

The precious metal fell in early trading, then rebounded USD 60 an ounce from its session low as funds piled into gold for protection against economic uncertainty after the US unemployment rate rose for the first time in 11 months.

Gold rose 3.6% this week, its largest gain since late January, when investors were already fretting over Spain's poor finances and a possible Greek exit from the euro zone, which could send Europe's debt crisis spiral out of control.

Gold ended May with its fourth straight monthly decline, the longest in 12 years. Friday's rally extended gold's gain year to date to around 4%.

Gold obtained 15% a few months ago after the US Federal reverse said in Jan it would keep rates near zero until at least overdue 2014 and could present a clean circular of asset-purchase program known as quantitative reducing.