MCX Gold prices closed at Rs. 26892 tested high of Rs 27175 per 10 grams and a low of Rs 26862 per 10 grams. Gold plummeted under Rs 26900 per 10 grams today and could extend the losses in evening trades. US dollar has gained further today and is quoting at a one month high of 1.0900 against the Euro.

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Daily MCX News letter
27th May 2015
DAILY MCX News letter

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PRECIOUS METALS:
MCX Gold prices closed at Rs. 26892 tested high of Rs 27175 per 10 grams and a
low of Rs 26862 per 10 grams. Gold plummeted under Rs 26900 per 10 grams
today and could extend the losses in evening trades. US dollar has gained further
today and is quoting at a one month high of 1.0900 against the Euro. Dollar is
holding its gains after orders for US durable goods dropped a seasonally adjusted
0.5% in April. Gold price breaks their support trend and felt downside; our
expectation price may go downside follow the strategy sells on high.
ENERGY
Crude Oil prices moved lower after two consecutive days of gains and ended the
session at Rs 3725 per barrel against Rs 3830 per barrel last week. Crude Oil is still
moving in a range of Rs 3900 and 3600 per barrel. The price tested a high of Rs
3841 per barrel on Tuesday and a low of Rs 3710 per barrel. For today’s trading
session follows the strategies buy on dips.
BASE METALS
Yesterdays MCX Copper June contract give some correction in upper side after a
week. Copper ended the day at Rs 394.40 per kg and made day low at 394.10 for
today follow the strategy sell on high.
MARKET WRAP

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PIVOT POINT
GOLD
SUPPORT1: 26720
SUPPORT2: 26480
RESISTANCE1: 27160
RESISTANCE2: 27390
SILVER
SUPPORT1: 37850
SUPPORT2: 37200
RESISTANCE1: 39100
RESISTANCE2: 39750
CRUDE OIL
SUPPORT1: 3660
SUPPORT2:3615
RESISTANCE1: 3775
RESISTANCE2: 3825
COPPER
SUPPORT1: 389
SUPPORT2: 386
RESISTANCE1: 398
RESISTANCE2: 402

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SELL GOLD JUN BELOW 26850 TARGETS 26700, 26550 STOPLOSS
27050.
PICK OF THE DAY

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