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This service pack is specially designed for traders, who are trading in MCX Bullion(Gold , silver) i.e. all the commodity bullion. Under this package the service would be provided via mobile by sms during the market hours. On an average 60-70 Calls would be given per month.


This service pack is specially designed for traders, who are trading in MCX ENERGY (CRUDE OIL AND NATURAL GAS) i.e. all the ENERGY SCRIPS . Under this package the service would be provided via mobile by sms during the market hours. On an average 40-50 Calls would be given per month.

17 Apr 2013

Crude oil futures lower ahead of U.S. supply data

Mcx Crudeoil Tips

             Crude oil futures were lower during European morning hours on Wednesday, as investors looked ahead to closely-watched weekly supply data on U.S. stockpiles of crude and refined products from the U.S. Energy Information Administration later in the day.

On the New York Mercantile Exchange, light sweet crude oil futures for delivery in June traded at USD88.67 a barrel during European morning trade, down 0.4% on the day.

New York-traded oil prices fell by as much as 0.5% earlier in the session to hit a daily low of USD88.58 a barrel. Nymex oil futures fell to USD86.41 a barrel on Tuesday, the weakest level since December 17.

Oil traders awaited data from the U.S. government on oil and fuel supplies later in the day to gauge the strength of demand from the world’s largest oil consumer.

The report was expected to show that U.S. crude oil stockpiles increased by 1.3 million barrels last week, while gasoline inventories were forecast to fall by 0.8 million barrels.

After markets closed Tuesday, the American Petroleum Institute, an industry group, said that U.S. crude inventories fell by 6.6 million barrels last week, compared to expectations for an increase of 1.35 million barrels, while gasoline stocks rose by 0.25 million barrels.

The U.S. is the world’s biggest oil consuming country, responsible for almost 22% of global oil demand. 

Oil prices have been under pressure amid concerns over the global economic outlook and its impact on future oil demand.

On Tuesday, the International Monetary Fund cut its 2013 forecast for global growth to 3.3%, down from its January projection of 3.5%. It also trimmed its 2014 forecast to 4.0% from 4.1%.

Elsewhere, on the ICE Futures Exchange, Brent oil futures for June delivery was flat to trade at USD99.93 a barrel, with the spread between the Brent and crude contracts standing at USD11.26 a barrel.

London-traded Brent futures fell to a nine-month low of USD98.02 a barrel on Tuesday, amid growing concerns over the euro zone’s economic outlook. 

The IMF said Tuesday the euro zone remains the weakest part of the global economy. The 17 countries using the euro accounted for about 12% of world demand last year.

Courtesy :

Gold slides again in Asia after rebounding in U.S.

Mcx Silver tips

                       Gold futures are again trading to the downside in the early part of Wednesday’s Asian session after rebounding during Tuesday’s U.S. session as traders resist the temptation to go bargain-hunting with the yellow metal. 

On the Comex division of the New York Mercantile Exchange, gold futures for June delivery slid 1.26% to USD1,369.85 per troy ounce in Asian trading Wednesday after settling up 1.64% at USD1,383.45 a troy ounce in U.S. trading on Tuesday. 

Gold futures were likely to test support USD1,322.25 a troy ounce, the earlier low, and resistance at USD1,494.95, Monday's high. 

The yellow metal rebounded in the U.S. Tuesday following its worst one-day performance in 30 years, but Tuesday’s gains were modest in comparison to Monday’s plunge that took bullion to a new two-year low. Economic data points published in the U.S. Tuesday were decent though not spectacular and that may have kept skittish traders from more fully embracing precious metals. 

In U.S. economic news, the U.S. Labor Department said the consumer price index fell 0.2% last month after a 0.7% increase in February. Excluding volatile food and energy prices, the CPI rose 0.1% last month. 

The U.S. Census Bureau said housing starts increased 7% last month from February to a 1.036 million seasonally adjusted annual rate. That is the first time in nearly five years monthly housing starts have eclipsed 1 million. In March, building permits fell 3.9% from February, to a 902,000 annual rate. 

Following an unprecedented 12-year bull market, gold is off 20% this year and residing in bear market territory. On Monday, Bank of America Merrill Lynch said bullion could fall to US1,200 per ounce. 

Elsewhere, Comex silver for May delivery fell 1.04% to USD23.383 per ounce while copper for May delivery rose 0.10% to USD3.307 per ounce.

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