Today Premium Mcx Tips & News for Traders

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Market Outlook:

1). Bullion closed higher as weakness in the U.S. dollar and equities and uncertainty surrounding the outcome of the upcoming U.S. presidential election lifted prices to their highest
level in a month.

2). Gold hit one-month high as investors grew more concerned over global economic outlook. Base Metals were trading lower with Copper prices falling from hefty overnight gains after finding day-long support from Chinese economic data pointing to robust demand for industrial metals. Crude oil closed lower after U.S. data revealed that crude stockpiles jumped by more than 14 million barrels—the largest weekly climb on record.

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Fundamental News:

1). Gold futures topped $1,300 an ounce on Wednesday for the first time in a month, finding support from the growing uncertainty surrounding the U.S. presidential election as well as weakness in the U.S. dollar.

2).Oil prices tumbled 3 percent on Wednesday after a record weekly build in U.S. crude inventories stoked investor worries about a global supply glut, days after analysts estimated higher monthly OPEC crude output.

imp-data

gold

Gold showed bullish movement and found the important resistance level of 30265. Now if it will close above the important resistance level of 30300 then 30600 will act as next resistance level. On lower side 29700 will act as vital support level.

silver

Silver showed bullish movement and found the important resistance level of 43700. Now if it will close above the important resistance level of 43750 then 44500 will act as next resistance level. On lower side 43000 will act as vital support level.

crude

Crude showed bearish movement and found the important support of 3000. Now if it will break the next support level of 3000 then 2950 will act as next key support level. On the other hand 3100 will act as a major resistance level, if it breaks the prices could visit 3200 level.

copper

Copper showed bullish movement and found the important resistance level of 330. Now if it will break the support level of 327 then 325 will act as next support level. On the other hand 330 will act as a major resistance level.

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