Commodity Updates: Silver and Copper Trend Today

Precious metals have to face decline today amd gold and silver commodities are trading lower on domestic commodity market. MCX Gold (Dec contract) has slip down to 30820 level after a decline of more than 130 points while silver has dipped 0.60% to trade around 59300 level. On Charts, silver is trending downwards and facing the immediate support level of 59000 level below which, it may stumble some more.

All base metals have seen a downfall today . Copper, Aluminum, Zinc and Lead are in decline mode. Copper is trading near 420 level and if it trades below 418, prices can witness a downside till 414-412 level while above the level of 424.60, copper looks bullish.

MCX Copper (November Futures)- Sell below 418 Targets- 414-412 while buy above 423.50

MCX Gold (December futures): Sell - 30780, Target - 30700-30650, stoploss – 31000

else buy above 31050, targets- 31150-31300

MCX Crude oil (November Futures): Buy on dips- 4650-60, Target - 4700-4750, stoploss - 4630


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