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Get Latest Mcx Trading Tips For Investors

Market Outlook

MCX Gold price was slight volatile on Friday. For upcoming session, if price sustains below 34700 then this momentum can take price towards next psychological support level of 34500 as well as bearish trend will remain continue. MCX Crude oil fell from higher levels and retests its major support level of 3850 and if price trades below this level in upcoming week then we expect more downside movement towards next support level of 3800. MCX Copper continue with bearish trend and close around its major support level of 445 and if price sustains below this level then 440 will act as a next important support level and higher side it has resistance at 450.

Fundamental News

Gold bulls are wagering they have little to lose in their bets for a Fed rate cut, to the extent that a better-than-expected Q2 GDP hasn’t dissuaded those long on the yellow metal in anticipation of the first U.S. monetary easing in a decade.

Oil prices inched up on Friday, on track for a weekly increase, boosted by upbeat U.S. economic data and concerns over the safety of oil transport around the Strait of Hormuz.

Gold showed sideways to bearish movement and found the major support level of 34700. Now if price sustains on lower level then it will test next support level of 34500. On other side 35000 will be major resistance level.

Silver showed sideways to bearish movement and found the major support level of 41000. Now if price sustains on lower level then it will test next support level of 40700. On other side 41700 will be major resistance level.

Crude oil showed sideways to bearish movement and found the major support level of 3820. Now if price sustains on lower level then it will test next support level of 3750. On other side 3920 will be major resistance level.

Copper showed sideways to bearish movement and found the major support level of 445. Now if price sustains on lower level then it will test next support level of 440. On other side 452 will be major resistance level.

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