MCX GOLD

FREE MCX TIPS FOR TODAY

SELL GOLD TG 18666 SL 19780 SELL SIVER SL 36880 TG 32380
BUY NAT GAS OCT ABV 158 SL 156 TGT 160.20-162.50-165.MCX

SELL REF.SOYA NOV @ 523 SL 526.20 TGT 520.20-517.80-514.50.NCDEX

SELL CPO BELOW 430 SL 433.50 TGT 427.60-425-421.50.MCX

BUY WHEAT NOV @ 1262 SL 1257 TGT 1268-1273-1280.NCDEX

SILVER(DEC) Trend Bullish:R2 36950,R1 36450,S1 35350,S2 34850 Strategy

COMMODITY NEWS

Gold recovered in Asian trade Wednesday as the dollar eased and on speculation of an immediate increase in demand.

Spot gold was seen trading at 1337.98 an ounce at 12.30 p.m Singapore time while December delivery gold on the Comex in Nymex was seen at $1337.74 an ounce.

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Platinum gained 0.3 percent to $1,668.50 an ounce at 2:33 while palladium rose 0.3 percent to $572.10 an ounce after reaching a nine-year high of $605.13 last week.

Silver rallied 0.8 percent to $23.5412 an ounce. The metal reached $24.92 on Oct. 14, the highest level for 30 years.

The greenback dropped against most major currencies Wednesday after rising 1.7 percent Tuesday. Dollar was at $1.3760 per euro from $1.3727 in New York Tuesday, when it earlier reached the strongest level since Oct. 5.

Analysts said gold has gained on speculation the Federal Reserve will next month announce asset purchases to revive the U.S. economy, in a measure known as quantitative easing.

On Tuesday, China’s rate increase sent gold prices tumbling, as investors fled the precious-metal market for the safety of cash.

Gold futures stumbled 2.6%, their worst one-day drop since early July, as the dollar strengthened following the move.

The most actively traded gold contract, for December delivery, settled down $36.10, or 2.6%, at $1,336 a troy ounce on the Comex division of the New York Mercantile Exchange on Tuesday. The front-month October contract also fell 2.6%, to $1335.10.
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