MCX base metals are trading in mixed. Apart from Nickel all base metals are trading in red. Even though metal is trading in green but there is a very modest increase in the metal. But aluminum, copper, lead and zinc have depreciated from 0.15 to 0.3 per cent decline.

MCX gold with a very marginal fall is trading at Rs. 29,430. Though the Spot gold prices were up in the major metro cities on Tuesday. In the pink city, Jaipur, the prices of pure gold (999 purity) was up Rs. 180 at Rs. 29855 and the Standard gold (995 purity) was Rs. 29830. Though the prices of gold increased tremendously in the north but in South, Chennai, gold was only up Rs. 40 at Rs. 29760 (995 purity) and Pure gold (999 purity) at Rs. 29880.

But unlike the yellow metal, Silver fell 0.25 per cent today and was trading at Rs. 52,790. Spot silver prices were higher in the major cities. In north, Delhi,  Pure Silver gained incredibly and was up Rs. 250 at Rs. 52550. In Ahmedabad too Silver was in great demand and climbed up Rs. 160 and was trading at Rs. 52300.

A divergent trend was seen in the precious metal today. Gold rose for the second straight day to Rs. 100 to Rs. 29,800 per 10 grams. The traders say the rise in the demand for the yellow metal was due to the festive season. GoldPetal prices on the MCX were also trading high today. GOLDPETAL July contract was trading at Rs. 2948 and wsa up 0.1% or Rs. 3. The GOLDPETAL July contract touched an intraday high of RS. 2952.00 and an intraday low of Rs.2945. 

Gold of 99.9 and 99.5 per cent purity rose further by Rs. 100 each to Rs. 29,800 and Rs. 29,600 per 10 gms.

On the same platform Silver or the White metal was trading low today. Silver declined about Rs. 150 to Rs. 52,300 per kg.

MCX SilverMIC August contract was down Rs. 94.00 and was trading Rs. 52910. The SILVERMIC rate touched an intraday high of Rs. 52910.00 and intraday low of Rs.52657

Bullion Updates: Gold and Silver trading high

Tuesday turned out to be a positive day for the bullion traders. After the three consecutive days of losses on the demand for the yellow metal, gold recovered on Tuesday with a high jump of Rs. 165 and was trading at Rs.29,770 per 10 grams.

The white metal too climbed up by Rs. 100 to Rs. 52500 per kilogram. The demand increased for both the precious metal as the wedding season started approaching. As the festive season started approaching, it supported the demand for Gold and Silver among the buyers. The demand also rose after the precious metal rose in the International market. In London the Gold climbed around 0.3% an ounce and reached to $1594.30 and Silver was high 0.7% or was at a level of $ 27.51 an ounce.

However in the domestic market, the gold recovered its last three consecutive losses of Rs. 115 and gained Rs. 165. Gold 99.9%  purity was at Rs. 29,770 and Gold of 99.5% purity was at Rs. 29,570.

The white metal rose to Rs. 100 to Rs. 52,500. The weekly based delivery of Silver metal was also trading up by Rs. 280 and was trading at Rs. 52,870 per kg.

Silver trend today

MCX Silver was trading in red today. Silver prices slipped Rs. 176 and were trading at Rs. 52,591 in futures due to the reduction of positions by the speculators. MCX Silver August contract fell Rs. 126 and was trading at Rs. 52674. The SILVERM August contract touched an intraday high of Rs. 52755 and an intraday low of Rs. 52460.

Silver September contract fell around 0.33 percent and was trading at Rs. 52591 per kg. 

The white metal November contract was also trading in red witha loss of Rs.104. The SILVERM prices reached an intraday high of Rs. 54446 and an intraday low of Rs. 54213

Similarly silver December contract slipped Rs. 173 and was trading at Rs. 54,288

Bullion tips for today:

MCX Silver Tips:

Sell Silver on higher level. Silver first support level is 52000, and Resistance is 54200, Second support level is 50800 and resistance is 55000.

MCX Gold Tips:

Sell Gold on higher level.

Gold first support level is 29000, resistance is 29500. Second support level is 28800 and resistance is 29800.  

The MCX Commodity opened on a positive note on Friday. It was higher by 0.01% at 3668.52.

MCX Metal was down by 1.77 points and opened at 4874.71. MCX Gold was trading marginally higher, MCX August Contract rose by Rs. 49.00 and was trading at Rs. 29271 at 11:27. The Intraday high Gold price reached Rs. 29279 and intraday low was at Rs. 29213.

MCX October contract was also climbed up. It was up by Rs. 46 and was trading at Rs. 29616. The intraday high was at Rs. 29621 and intrday low of Rs. 29555.

Indian Gold demand have become moderate and is expected to remain weak due to unseasonal note. The demand is expected to rise near the festival season.

Silver is trading higher today. MCX Silver September contract has been substaintially high by

Rs. 59 and was trading at Rs.53096. The Intraday high rates reached to Rs. 53095 and Intraday low were at Rs. 52878.

MCX Silver December contract was too trading up Rs. 56. The Silver rate touched intradya high of Rs. 54779 nad /intraday low of Rs. 54569.

MCX Natural gas today declined nearly 1 per cent. However, in NYMEX, natural gas are doing business with rise in 1.5 per cent. Demand for the natural gas in the coming time is expected to grow in China.
Prices for crude oil in the domestic market have fallen by 1 per cent and are currently trading at Rs. 4712.Although international crude oil prices rose 1 percent at 84 dollars a barrel.

MCX gold has slipped half per cent, the price is at Rs 29 286. MCX Silver is trading at Rs 52,635 in a narrow range. There is a weakness in the international market in gold, while silver is trading with strength.
Weakness in base metals continues. Aluminum, copper, lead and zinc are trading in the red mark. Nickel is doing a slow business.
Wheat is trading with gain compared to the last weak trading. July wheat futures on NCDEX is trading with a gain of 1.5 percent. The August futures prices have risen up to 1,300 per quintal. The Union Agriculture Minister Sharad Pawar has said that despite a decrease in monsoon Ajanon exports will continue. International wheat prices have gone up in the market. 

Commodity recommendations for today:

Crude oil (MCX): Sell Rs -4 750, -4 799 stoploss of Rs Rs Rs -4 650 goals

Gold (MCX): Sell Rs -29 350, -29 450 stoploss of Rs Rs Rs -29 150 goals

Worldwide Gold - Silver prices have been trading in a very narrow range. MCX gold has slipped 0.30 per cent and is trading at Rs 29 574, while silver has declined more than half per cent. Gold ETF holdings of the domestic market have come down substantially, in June, investors withdrew a record Rs 230 crore declining the price of  Gold ETFs around 2.5 per cent.


Crude oil has declined drastically today in domestic market for more than 1 per cent in the crude oil prices.  Crude oil prices have slipped from Rs 4,800 to Rs 4,750 while the in the international market the prices have broken down 1-2 per cent. The strike ended in the Norwegian oil companies and have resulted in the decline in price of crude oil the most. The trade data released being today in China is will also impact in the price of Crude oil.
MCX base metals are also in pressure situations. Metals in the domestic market is trading with a red mark. Aluminum, copper, nickel and lead have been fallen up to 0.30 per cent. Even on LME, copper is trading in red.


Turmeric August futures hit upper circuit in NCDEX and have risen beyond the price of Rs 4,800.In past one month, a rise of  35 per cent in the price of turmeric have been recorded. In account of delayed monsoon, price of Soyabean continued uptrend.. However, domestic soybean planting has begun and the monsoon has reached almost all over the country.

Commodity tips for today:

Gold (MCX): Sell Rs -29 580, -29 680 stoploss of Rs Rs Rs -29 450 goals


Silver (MCX): Sell Rs -53 280, -53 400 stoploss of Rs Rs Rs -52 900 goals


Crude oil (MCX): Sell below Rs -4 730, -4 780 stoploss of Rs Rs Rs -4680 to 4620 targets

Copper (MCX): Sell below Rs -423, -425.50 stoploss of Rs Rs Rs goals -418