MCX
Gold Tumbles Down As Dollar Firmed
On Monday, gold prices tumbles down in europe as dollar firmed, but moves were muted ahead of European summit later in the week.
Spot gold was down by 0.3% at $1,566.09 an ounce, while US gold futures for august contract gained 60 cents at $1,567.50 an ounce.
Gold was down by 3.5% after US authorities disappointed gold bull by failing to launch more aggresive Monetory policy.
In Local indian market, gold is trading at Rs.29,874 per 10 gms down by Rs.100 whereas Silver is trading at Rs.52,550 per kg losing Rs.403.
MCX Silver August Contract Slides
On Monday at Multi Commodity Exchange, Silver june contract was down by Rs.404 to trade at Rs.52,571 per kg with business turnover of 34943 lots.
It touched the intraday high of Rs.52,905 and intraday low of Rs.52,301.
MCX Silver for august contract was down by Rs.388 to trade at Rs.53,907 per kg.
MCX Silver november contract dropped Rs.369 i.e. 0.66% to trade at Rs.55600.
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NCDEX
Sell NCDEX Jeera May at Rs 13150; target Rs 12800
According to the research firm, one can sell NCDEX Jeera May contract at
Rs 13150 for the target of Rs 12800 with a stop loss of Rs 13400.
Jeera future prices traded downside on profit booking at higher levels
however, it is expected to gain support from good domestic and export
demand.
For intraday sell on rallies should be the strategy
Contract - May
Strategy - Sell
Entry - 13150
Target - 12800
Stop loss - 13400
NCDEX Refined Soy Oil may track bull's path
Strategy (3–4 days): Buy NCDEX Ref Soy Oil May between 721-724, SL-712, T1-738 & T2–745.
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