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Gold and silver business is slow today. Despite the weakness of the rupee, price of gold in the domestic market is not getting support. Gold on MCX is trading at Rs 30,135, while silver soared up further 0.30 percent is trading at Rs 53,513.

After a initial slowdown in the domestic market, crude oil prices surge nearly 0.5 per cent. The price is at Rs 5184. Domestic market, rupee is weak around 0.5 per cent against the dollar today is weak. The effect of this is also seen in crude oil prices today. Crude oil prices have increased in NYMEX by 0.5 per cent and prices are above 93 dollars a barrel.

gold silver tipsEuro zone bad economic statistics have affected in the prices of the base metals today. The base metal prices have fallen today. Copper prices have fallen at MCX and are around Rs.410. Copper on the London Metal Exchange is trading under $ 7400. Other metals have also been selling under pressure.

The castor seed (August, September, October-November) in futures are trading with a gain of 3-.35 percent. Cotton cake August and September futures are trading weak with 2.5-3 percent. AUGUST pepper futures lost 1.5 per cent.

Gold Silver Tips for 14th August 2012

Crude oil (MCX): Buy Rs -5100, -5060 stoploss of Rs Rs Rs goal -5200

Gold (MCX): Sell -30,160 to 30,180 rupees, stoploss of Rs Rs -30 350, -29 900 target Rs

Silver (MCX): Buy from -53,200 to 53,300 rupees, stoploss of Rs Rs -53 000, -53 700 target Rs

Copper (MCX): Sell -412-413 Rs Rs stoploss of Rs -415, -410-408 as targets


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