MCX SUPPORT & RESISTANCE LEVEL
Bullion Gold On Thursday, spot gold prices rose half a percent to close at $1303.3 per ounce on account of weak dollar and uncertainty about the outcome of a tight U.S. presidential race. On the MCX, gold prices declined by half a percent to close at Rs.30487 per 10 gms. Free MCX Tips
GOLD DEC FUTURE
Silver Spot silver prices declined by 0.7 percent on Thursday to close at $18.3 per ounce in contrary to the rise in gold prices and profit booking at higher levels. On the MCX, silver prices declined by 1.7 percent to close at Rs.43348 per kg.
SILVER DEC FUTURE
Outlook On an intraday basis, we expect gold silver prices to trade volatile on account of uncertain environment with regards to the US presidential race. Besides, the FED has also kept the rates unchanged in its recent meeting creating further uncertainty about the timing of the rate hike. On the MCX, gold prices are expected to trade volatile, international markets are trading lower marginally by 0.33 percent at $1299.2 per ounce. Commodity Tips
CRUDE OIL OCT FUTURE
Energy Crude Oil WTI oil prices declined by 1.5 percent on Thursday to close at $44.7 per ounce as investors reeled from a record weekly surge in U.S. crude inventories, and remained skeptical about whether OPEC can actually implement its planned output cap. On the MCX, oil prices are expected to trade sideways today, international markets are trading higher by 0.3 percent at $44.79 per barrel.
COPPER OCT FUTURE
Copper LME Copper Prices Traded higher by 0.8 percent at $4960/tonne as China’s Caixin October services PMI surged to 52.4, the fastest growth for business activity at services companies in four months. Earlier this week, China's official Purchasing Managers' Index (PMI) for October expanded at the fastest pace in more than two years. MCX copper prices traded higher by 1.1 percent to close at Rs.331.9 per kg on Thursday. Free Commodity Tips
INTERNATIONAL MARKET UPDATE
GOLD $ 1299.55.
SILVER $ 18.252,
CRUDE OIL $ 44.79,