Everybody say that Gold is one of the most difficult marketplaces to trade and there is some fact to that – Gold doesn’t move like other marketplaces and if traders want to achieve success dealing it , they have to keep several things in mind. Over the a lot of tracking and examining the gold market we observed many effective guidelines and styles. We efficiently used them and are still implementing them for our gold and silver trades and we will discuss our knowledge on this page. It took a lot of examining, testing and using our own investment to ensure that these factors are really useful.
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After heavy tremendions this week, the move to sleep has stopped. After crossing $ 1230 in the global market yesterday, today it is trading near $ 1225. There is also a slight pressure from the upper level in silver. In fact, the recovery has started from the 5-week low level of the dollar, and that is why a bull and silver speed has been hit.
However, after the fall of yesterday, crude oil has recovered and it is trading with a slight increase. But despite this increase, Brent’s price is below $ 52. Copper is on the London Metal Exchange today and it has gone up to $ 5,900. This is showing the biggest weekly increase in the last five weeks. However, Zinc has gained the fastest 5 percent this week.
Soybean pressure is in the global market in agri commodity. At the same time, the recovery of the dollar has ended the rupee’s strength and today the rupee is trading with less than 0.25% weakness against the dollar. Currently MCX is trading 0.2 percent higher at 28,470 rupees. Silver is trading at 0.4 per cent and is trading at Rs 40,755. At the MCX, crude oil has jumped 0.5 percent to 3210 rupees. However, natural gas has come down 0.5 percent to Rs 191.1.
In the base metals, all the metals except the aluminum are showing up. Currently, on MCX, the copper is trading 0.2 per cent higher at Rs 388.5, while the move to aluminum is flat. Nickel has reached a peak of 672.2 with 0.8 per cent jump. Lead is trading 0.75 percent and is trading at Rs. 147.65. Zinc is trading at 0.75 percent with a strength of Rs 185.65.
There is a break on gold bullion. In fact, the dollar has been falling below the 5-week low level. In such a situation, gold is in a very small area. There is also sluggishness in silver. After yesterday’s fall, recovery in crude oil has come today. Although the business is extremely dull. Meanwhile, the initial edge of the metal has ended. Aluminum has come under pressure. Copper has also become weak. Although copper has seen the biggest gain of last 5 weeks on London Metal Exchange, with this week, Zinc has gained 5%.
Crude oil on MCX has gone up by 0.3 per cent to Rs 3205, while natural gas is falling more than 1 per cent to around 190 rupees. In the domestic market, the silver is trading at around Rs 40740 with an increase of 0.3 per cent, while gold is trading close to Rs 28,470 with 0.2 per cent increase.
Speaking of agri commodities, the two commodities of soybean and mustard are on radar today. There is pressure in both. Soybean is down in the domestic market where about 5 percent has broken during this month. There has been a decline of about 4% in the global market this week. In fact this year Brazil has record production of soybean. In this way, there is pressure on soybean prices in the whole world. On the other hand there are mustard. Its new crop has started in the incoming markets and the price is about 200 to 300 bucks below the MSP. In the markets of Jaipur, Kota, Bharatpur and Alwar soybean is sold from 3300 to 3400 quintals.
On turmeric on NCDEX, April futures are seen at a level of Rs 6538 with a slight increase of 0.09 per cent, while Soyabean’s April futures are trading around Rs 2,890 with flat moves, while Soya oil’s April futures rose by 0.3 per cent. With Rs 640 is seen close to Rs. The march futures of Mentha oil on MCX seem to be around Rs 1005, with a marginal increase of 0.05 percent. The same futures of crude palm oil have been trading around Rs 520 with 0.1 percent increase.
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