11/02/2011 10:58:00 AM
Stuti Sharma
MCX Commodity Market Outlook|Live MCX Rates|Base Metal Tips|Bullion MCX Trend Today 2 November:
Precious Metals Trading Ideas (Gold Silver): Gold and silver prices are expected to trade lower today, taking cues from a stronger dollar and weak global market sentiments. Gold prices opened on weak note and ended lower as the dollar denominated metal
Crude Trading Ideas: Crude oil prices are expected to trade lower on the back of poor risk appetite in the global markets due to rising European economic risks coupled with a stronger dollar.
Base Metals Trading Ideas (Copper, Lead, Nickel, Zinc): Base Metals opened red on a stronger dollar and an unexpected slowdown in China’s factory activity with doubts over last week’s euro zone bailout plan further dampening sentiment. Some selling is seen in base metals today.
MCX Commodities:Support Resistance Levels-
Gold: Sup1-27350 Sup2-27270 Res1-27450 Res2-27520
Silver: Sup1-56500 Sup2-56000 Res1-57000 Res2-57400
Copper: Sup1-388 Res1-394
Nickel : Sup1-950 Res1-965
Lead : Sup1-100 Res1-101.50
Zinc : Sup1-95 Res1-97
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