Mcx Commodity News Today

Cash gold slipped 1 percent to its weakest in 10 months at $1,541.24 an ounce after a steep decline in equities and a disappointing U.S. private-sector job report prompted investors to cash in bullion to cover losses.

Gold, a traditional safe haven, also failed to capitalize on tensions in the Korean Peninsula, where North Korea has moved what appears to be a mid-range Musudan missile to its east coast, according to South Korea's Yonhap news agency.

COMMODITY MARKET OUTLOOK 04/03/2013

U.S. oil stockpiles climbed to the highest level in more than 22 years Copper, trading near the lowest price since August Gold declined the most in a month as physical demand ebbed Silver futures retreated to an eight-month low.

GOLD:

Trend updated for-Apr/04/2013.CMP-28826 Overall trend of the Gold is bearish for medium-long term .Currently Gold is in strong downtrend with good momentum and the trend is supported with good volume The open interest is not increasing with trend .. The Gold is now trading in overbought level. The Gold is now trading in overbought level. The oscillator is showing SELL signal For short term Gold is in HOLD SHORT position. Positionally Immediate support for Gold is 28675.Resistance for the Gold is 29556-29595-29630-29925-30189-30432-

Silver:

Trend updated for-Apr/04/2013.CMP-http://www.capitalheight.com/50722 Overall trend of the Silver is bearish for medium-long term .Currently Silver is in strong downtrend but volume is unsatisfactory The open interest is not increasing with trend . In last few days volume based selling happened in the Silver. The oscillator is showing SELL signal For short term Silver is in SELL position and closed below 1 month low with volume signals down breakout.Positionally Immediate support for Silver is 50221.Resistance for the Silver is 53432-53869-54281-55138-56396-57357-

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