live MCX Tips | Profitable news and Updats

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Market Outlook

Gold and silver are trading sideways to bearish today on MCX as bank holiday of mostly abroad market including USA & GBP. In future US   Federal Reserve hinting at a couple of more hikes in interest rates in 2017, our experts are expecting gold price to further weaken in coming months. Base metals are also trade bearish as a mute demand of china. Crude oil trade sideways to bullish today and remained steady last week, as the market has provided no substantial surprises and oil price consolidation continued. Traders and other market participants have adopted a wait and see

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Fundamental News

Precious metals gold and silver traded in the red with marginal losses in morning trade on Monday on account of weak demand from jewellers, investors, retailers and industrials

Base metals fell across the board on Monday on concerns about demand growth in China as the government continues a crackdown on soaring house prices and pollution.

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Gold showed sideways movement and found the important support level of 26900. Now if it will sustain below the important support level of 26850 then 26600 will act as next support level. On the other hand 27300 will act as a major resistance

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Silver showed bearish movement and found the important support level of 38300. Now if it will sustain below the important support level of 38300 then 37800 will act as next support level. On the other hand 39000 will act as a major resistance level.

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Crude showed sideways to bullish movement and found the important resistance level of 3626. Now if it will close above the important resistance level of 3630 then 3700 will act as next resistance level. On the other hand 3590 will act as a major support level.

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Copper showed bearish movement and found the important support level of 371. Now if it will close below the important support level of 367 then 360 will act as next support level. On the other hand 372 will act as a major resistance level.

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