It’s very hard to decide which direction bullion commodities will go now because Shanghai-based bullion bank said, “If Trump is to perform some military action against North Korea, gold will definitely reach $1,300.” After Trump’s victory bullion commodities are going upside and metal commodities are going down. Look at the broad-based ETPs heatmap to understand last week games and that’s clearly indicating Precious Metals & Energy was positive and Industrial metals was weak.
Above COMEX market wrap-ups can help you to understand the MCX previous week movement. You may see last week Top Gainers & Top Losers below to get how that impacted:
| TOP GAINERS | TOP LOSERS | |||||
| Silver | 1192 | 2.88% | Nickel | -30.1 | -4.58% | |
| Silver mini | 1183 | 2.86% | Nickel mini | -30 | -4.57% | |
| Silver micro | 1178 | 2.85% | Copper | -9.85 | -2.62% | |
| Gold | 725 | 2.53% | Copper mini | -9.7 | -2.58% | |
| Gold mini | 708 | 2.47% | RBDPMOLEIN | -13 | -2.39% | |
| Gold petal | 54 | 1.86% | Aluminium | -2.65 | -2.11% | |
| Crude oil mini | 62 | 1.85% | Alimini | -2.6 | -2.07% | |
| Crude oil | 61 | 1.82% | Zinc | -3.35 | -1.95% | |
| Gold guinea | 396 | 1.70% | Zinc mini | -3.35 | -1.95% | |
| Cotton | 80 | 0.39% | Cardamom | -21.3 | -1.53% | |
| Natural gas | -2.9 | -1.38% | ||||
| CPO | -4.9 | -0.94% | ||||
| Lead | -0.45 | -0.31% | ||||
| Lead mini | -0.45 | -0.31% | ||||
| Mentha oil | -3 | -0.30% | ||||
Previous week MCX Top Three Gainers(in Mega) was Silver (2.88%), Gold (2.53%) & Crude oil (1.82%) and Top Three Losers(in Mega) was Nickel (-4.58%), Copper(-2.62%) & RBDPMOLEIN(-2.39%).
GOLD & SILVER – BEST FOR INTRADAY TRADING
Moneymunch received so many comments & emails about Gold & Silver next moves. As per reader request, I should say 29000 to 29800 levels range are a trap for short-term/long-term investors. You must keep playing intraday trading between this range. If gold will break this range then my email will come in your inbox.
But if we talk about Silver then I should say buy at/above 42700 level after closing, for 43000-43400 levels.
CLICK BELOW “READ MORE” BUTTON TO READ CONTINUE… MCX GOLD, SILVER, CRUDE OIL, NICKEL & LEAD TECHNICAL REPORT…
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