Thursday, May 23, 2013

Commodity Market Updates & Calls


Commodity Market Live Updates

Gold is likely move down in today's Indian Commodity Market. However a weaker rupee due to weak domestic markets can limit the downside. Gold for June delivery on MCX was down by 0.56% at INR 25,963/10gms and silver was up by 0.13% closing at INR 43,226/kg.

In the energy sector crude oil prices are expected to go down as markets are well supplied and demand concerns from China can continue to push prices down. Natural gas is expected to move in a range ahead of thei nventories data today.

Commodity Calls

Sell Gold-June at 26200-26250 TGT 25600 SL 26400
Sell Silver- July at 44000-44200 TGT 42000 SL 44800
Sell Crude oil –June at 300-5310 TGT 5240 SL 5350
Natural Gas– May Range 227-235
Continue reading →