Friday, January 03, 2014

MCX Tips Today : Gold, Silver, Aluminium

Precious metals traded flat as U.S markets remained closed on new year's eve. However,

prices jumped on Thursday morning as bargain hunters resurfaced after prices plunged to a 

six-month low, but optimism over the global economic outlook and the imminent end of the 

U.S. Federal Re-serve's monetary stimulus could cap gains. Talks that Chinese buyers 

returned to buy gold also supported prices, but physical dealers attributed the rally to the thin 

market at the start of the new year.

The MCX SILVER rate touched an intraday high of Rs 45670 and an intraday low of Rs 45290. So 

far 15120 contracts have been traded. SILVER MCX prices have moved up Rs 3676, or 8.78 percent 

in the February series so far. MCX SILVER was trading at Rs 46511 up Rs 176, or 0.38 percent. The 

SILVER rate touched an intraday high of Rs 46630 and an intraday low of Rs 46273. 

MCX SILVER prices have moved up Rs 3511, or 8.17 percent in the April series so far.

MCX GOLD was trading at Rs 29241 up Rs 136, or 0.47 percent. The GOLD rate touched an

intraday high of Rs 29330 and an intraday low of Rs 29150. So far 8912 contracts have 

been traded. GOLD MCX prices have moved down Rs 205, or 0.70 percent in the February series so 


MCX Calls:

>> Buy MCX Aluminium Jan between 110.80 - 111.40, SL - 107, Target - 117 / 120 
>> Buy MCX Gold around Rs 28500 with the stop loss below Rs 28350 for the target of Rs