Gold Silver Crude Oil Copper Trading Idea Today

MCX India Trading TipsGold MCX India Trading Ideas

Gold trading range for the day is 26021-26559. Gold dropped as the dollar strengthened on renewed expectations that the Federal Reserve will raise U.S. interest rates for the first time in nearly a decade. Gold failed to maintain those gains after a Fed official emphasized that a rise had only been postponed. SPDR gold trust holdings dropped by 0.18% i.e. 1.19 tonnes to 675.80 tonnes from 674.61 tonnes.

Silver MCX India Trading Ideas

Silver trading range for the day is 34572-36496.Silver dropped after a sell-off in the commodities market, on lingering concerns over slower economic growth in China. St. Louis Fed President James Bullard and Atlanta Fed President Dennis Lockhart both made the case for higher U.S. interest rates later this year. Silver trust dropped by 0.54% i.e. 53.41 tonnes to 9928.16 tonnes from 9981.57 tonnes.

Crude Oil MCX India Trading Ideas

Crudeoil trading range for the day is 2976-3104. Crude oil prices fell under pressure from uncertainty over whether global demand will be enough to erode a sky-high surplus. API reported that US crude stockpiles fell 3.7mbls last week, with stocks at the Cushing, Oklahoma delivery point down almost 500,000 barrels.China’s implied oil demand rose 10.2 percent from a year earlier to 10.75 million barrels per day (bpd) in August.

Copper MCX India Trading Ideas

Copper trading range for the day is 329.9-355.5. Copper prices dropped after China increased copper imports in August but not enough to impact a swelling global surplus. China imported 12 percent more copper in August than in the same month a year ago, at 262,691 tonnes of refined metal.At the same time, a monthly surplus has appeared, of 2,000 tonnes in June, compared with a 43,000 tonne deficit in May, ICSG said.

 

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