Wednesday, 20 August 2014

Gold silver under pressure before fomc meeting minutes|| commodity calls update

mcx bullion metal looked under pressure today, gold traded at 28200 and silver 42290, comax gold slip down below $1295 and silver fail below $19.38. at 11.30 federal meeting minutes release then announcement about bond buying program.
crude oil looked recovery moods after fail below 5660, now evening session teadedabove 5698 with gain of 23 point nymax crude was down below $93.10 ,if more down fall on nymax then prices will slip at $90 .

Gold Trend : mcx gold made low at 28150, if break then down side 28100/28000 should be touch if continue to deduction in bond buying after FOMC meeting.
Silver Trend: mcx silver traded below 42351,made low of day at 42165, high of day at 42435, silver should be fail below 42000 evening session, if break then 41850 ,upside 42680.
Base metal trend: base metal look in green mode today , after good home salse data from US A, mcx copper traded above 417.85 at 6 pm, made high above 418.3, nickel made high 1144.4, zinc 141.5
mcx commodity calls
sell gold above 28200/250 target 28100/28000/27900 stoploss 28350
sell silver above 42450 target 42200/42000 stoploss 42650
buy copper above 416 target 418/420/422 stoploss 413
buy 1140 target 1145/1155/1160 stoploss 1134


  1. Copper prices are seen rebounding 8.4 percent as demand for the metal used in pipes and wiring expands amid signs of tightening supplies, Standard Chartered Plc forecasts.
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