Gold futures edge held steady on Friday, floating nearby one-week highest duration ahead of the release of data Nonfarm Payrolls U.S. later in the day after unemployment claims report on Thursday disappointed the market expectations.

Gold stabilized above $ 1,250 an ounce on Friday prior to a key U.S. employment report, after rising nearly 1 percent in the previous session after the European Central Bank announced actions to boost the economy of the euro zone.

Gold tends to take advantage of the ultra easy monetary policy, reducing the opportunity cost of keeping yield assets such as gold.

Spot gold was trading at U.S. $ 1253.70 an ounce at 0917 GMT, little changed from $ 1,253.29 on Thursday night. 
Comex Gold for delivery in August quoted at $ 1,252.80 a troy ounce during European afternoon trade, down 0.05%.

The August contract rising 0.72% was set on Thursday to close at $ 1,253.3 per troy ounce.

Gold futures edge were likely to find support at $ 1242.80 an ounce, the lowest since June 4 and resistance at $ 1,267.50, the high of May 28. low from June 4 and resistance at $ 1,267.50, the high from May 28.

Pressure as well as in the international market, gold prices in the domestic market have started to come down. MCX gold price has come down to Rs 25,900.

MCX Gold August fututes prices was trading at Rs 25960 down Rs 15, or 0.06 percent. The Gold price hit an intraday high of Rs 25988 and an intraday low of Rs 25915.

Economists surveyed by Reuters have returned an average forecast of nonfarm payrolls increased by 218,000 last month as U.S. employers are likely to keep a solid pace of recruitment, employment returned to its previous-recession level .

Odds are followed closely a barometer health of the U.S. economy. A strong reading likely need to reassure Investors should note that the Federal Reserve will continue to decreasing its friendly monetary stimulus program of bullion, gold mining.

News By Economictimes
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Gold prices in the domestic market has come to a low of 10 months. The MCX gold is trading below Rs 27,000.

The prices of gold dropped by more than 0.42 percent at 26,844 rupees per 10 grams in June futures trade today as profiteers engaged in cut positions in tandem with a weak global trend where precious metal fell to over a 15-week low.

The gold rate touched an intraday high of Rs 26,970 and an intraday low of Rs 26,810.

100McxTips Commodity Advisory said, " In the international market gold touched a three-month low of. Gold prices in the international market is under $ 1265. Support of $ 1270 was down yesterday. The recovery in the U.S. economy and the growing a decrease in demand on gold pressure. It is believed that gold could break even level of $ 1,200.

At Comex gold for August delivery fell to a session low of $1,261.30 a troy ounce, the weakest level since February 7, before trimming losses to last trade at $1,264.70 during European morning hours, down 0.08%, or $1.00.

"A weakening trend in the foreign markets where gold fell throughout 15-week low as encouraging economic data from the United States backed the case of Federal Reserve to keep reducing of monetary stimulus, as demand in China showed signs of decline, weighed on precious metals in futures trade here.", 100McxTips added.

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Turnover of Commodity Exchanges declined by 69% to Rs 4.64 lakh crore in April of this year in the amount of slow trades in most commodities, the Forward Markets Commission (FMC) said.

Their business stood at Rs 14.77 lakh during the same month in the relevant year. Maximum fall was noted in bullions, followed by goods of energy, base metals and agri commodities, commodity markets regulator FMC said that the latest release of their data.
Business volume bullion down over 76 percent to Rs 1.68 lakh crore in April this year, compared to Rs 7.15 lakh rupees in the previous year, data showed FMC.

The stock business energy goods as crude oil fell by over 70 percent to Rs 1.04 lakh rupees from Rs 3.5 lakh rupees, whereas the business volume of the metals was reduced by 64 percent to Rs 95.195 million rupees from Rs 2.63 lakh million Rupees in the revision period.

Likewise the turnover in agricultural commodities declined by 35 percent to Rs 96.167 million rupees in April this year, from Rs 1.48 lakh million rupees in the same month of last year.

The researchers said that involvement in the futures markets for commodities has taken a beating because of the higher transaction costs and slower investor trust of after the non-payment of Rs 5,600 crore in exchange for cash NSEL.

FMC also said he addressed to all the national stock exchange not to charge any fee for the audit of its members and must develop internal capacity for this purpose.

There are five national exchanges - MCX, NCDEX, NMCE, ICEX and ACE, and 11 commodities exchanges regionally operating in the country.

News By Economictimes
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The commodity market regulator Forward Markets Commission (FMC) meet Multi Commodity Exchange (MCX) officials there on 6th May 2014 and examined the progress of the exchange in compliance of the order to cut the participation of parents FTIL 2%  from the current 26 percent. 

MCX departing director General and CEO Manoj Vaish met with officials of the FMC and discussed the progress of divesting, said an official here MCX, without elaborating.

The FMC wanted to get a vision and decision on the status of implementation of MCX in the implementation of the order "fit and proper" against Financial Technologies (India) Ltd (FTIL) and the steps taken in the audit report PwC in the bag.

Earlier, FMC warned MCX not be renewed the contracts or allow new contracts and optionally remove his license to run the stock if the exchange did not fulfill their orders.

FMC hosted the meeting after the FTIL efforts promoted by the employer Jignesh Shah, to sell a 24 percent stake in MCX seemed to have hit temporarily road blockage, with the prospective tenderers including Reliance Capital, by requiring that PwC audit results be shared with them.

Reliance Capital, which is analyzes buying participation in MCX, has also called on FMC to cancel all agreements between the bag and the FTIL.

The FMC, which came into performance of the enterprise the National Spot Exchange Group (NSEL), following a crisis payment of Rs 5,600 crore, had issued a warrant in December claiming FTIL "ineligibility" to maintain stake than 2 percent in MCX. Currently, the promoters hold 26 percent in the commodity exchange.

The FMC had asked to MCX take specific action to ensuring that FTIL decreases its shareholding to 2 percent in Exchange. Although FTIL established MCX, no longer controls the exchange after the order of the FMC.

News By Economictimes
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Gold prices declined by Rs 195 to Rs 30,390 per ten grams in Delhi today as auspicious Akshaya Tritiya could not conjure up any significant support for the bullion metal cart.

Silver also fell for the third consecutive day by losing Rs 430 to Rs 41,650 per kg.

Traders said a weakening trend in precious metals overseas after the Federal Reserve proceeded with cuts to stimulus amid signs of a recovery in the U.S., reducing demand for safe haven put particular pressure on gold prices here.

Buy gold picks up especially at this time of year, though India celebrates Akshaya Tritiya. The saying is - Gold and gold jewelry bought and worn on this day signify never diminishing good fortune.

While gold has been better performance in the past decade, it has lost some shine over the last year and the tendency is likely to continue given that the world economy had begun to show signs of recovery.

But in contrast to the West, buying gold in India has always once been driven more by feelings and Akshaya Tritiya is a good opportunity in which it is said that purchasing gold bring wealth.

Gold trading indeed important and must be part of a diversified overall portfolio, but analysts are advising to cut back their positions in the wake of falling the prices of gold internationally.

The price of gold in the Indian market is higher than the world market owing to the additional duties set by the UPA government to curb the bulky current account deficit.

News By Economictimes
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The prices of gold traded near a one-week low on Thursday after the Federal Reserve's decision by to diminish their monthly buying program bonds at $ 10 billion for the fourth successive meeting.
On the Comex division of the NYMEX, gold for delivery in June took place in a narrow range between $ 1,285.10 per troy ounce and $ 1,293.10 an ounce.
Gold quoted at $ 1286.90 per ounce during early European morning trade hours, down 0.69%, or $ 9.00. Futures fell by 0.03%, or 40 cents an ounce on Wednesday to close at $ 1295.90.
The prices of gold were likely to find support at $ 1268.40 per troy ounce, the low of April 24 and resistance at $ 1306.60, the high of April 28. The Federal Reserve said Wednesday that it decrease its bond purchases by $ 10 billion to totaling of $ 45 billion a month, in a widely expected decision. The Federal Reserve also stated that the interest rates would be kept on hold at historic lows for a "substantial time" after the bond buying program ends later this year.
The U.S. central bank admitted that the first quarter growth was far weaker than expected, but said that the moment had started to pick up the last few weeks.
Data showed Wednesday data showed the U.S. economy expanded at an annual pace of 0.1% during the first three months of the year, far short of expectations of a 1.2% expansion.
The investors now glanced forward to jobs in the U.S. closely-Friday report for April, which was expected to show the rebound in the labor market continues.
News By Investing.com
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In household markets, MCX gold have been trading around Rs 28,500. Throughout the first week, gold futures prices have declined drastically around 4.5 per cent. But still gold spot markets have been selling up to Rs 30,000.
Rupee against the dollar has opened weak today. On Friday last week rupees has increased the strain by poor IIP data. Sell-off in the silver has dominated. MCX silver is down to Rs 47,000. The fall in international market is visible pressures in the domestic market.


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Silver Imports in India are on track to meet a record this year, wedding and festival season on raises the purchase of the precious metals rather than traditional gold, made it more understaffed and pricier by formal measures taken to reducing the trade gap.
The increase in the purchase is unlikely of provoking a crisp policy response from authorities, as in for gold since the value of silver that imported is much less than the gold and thus it is not critical to the trade balance.  In accordance with metals consultancy GFMS, India imported 4,073 tonnes of silver between January and August more than twice as many 1,921 tonnes in 2012 as a whole, when a rise of prices the demand peak seasonal injured. The record was set of 5,048 tons in 2008.

In other hand,  gold & Silver imports declined by more than 80 percent to $ 0.8 billion in September as a result of a series of steps made by the government to curb inbound shipments for precious metals, a development that will help to reducing the current account deficits records. India, as well the world's biggest buyer of gold, has increased the duty on imported gold three times this year, bringing it to by 10 percent, and in July the government has said that importers that a one fifth of your purchases will must give the export back, leaving only 80 percent for household use.

Commodity Market Trading Advisory 100McxTips.com, Offers Some Trading Ideas for MCX.

• MCX Gold ( December futures ) : Buy - 29200 , Target - 29 600 , with a stoploss - 29050
• MCX SILVER ( December futures ) : Sell - 49600 , with a stoploss - 49 990 and Goals - 48 562
• MCX Crude oil (OCT futures ) : Sell - 6459 , with a stoploss - 6499 and target - 6365
• MCX Natural Gas (OCT futures ) : Sell - 232.50 , target - 227 , with a stoploss - 236
• MCX Aluminum (OCT Futures ) : Buy - 114.50 , target - 117 , with a stoploss - 113
• MCX Nickel (OCT Futures ) : Buy - 860 , Goals - 890 , with a stoploss - 840

100McxTips.com  also offers for  newbie traders  MCX Trial Tips, Visit Here.

At MCX Gold futures prices up 0.8% to Rs 29,000/10 gm today as a profiteers broadened their positions on back to reassert global trends.
At the MCX, gold for February 2014 delivery  increased by Rs 228, or 0.79 percent at 29,000 rupees/10 grams, with a turnover of of 11 lots. 
In a similar manner on metal for delivery in Gold  December rose by 226 contracts rupees or 0.69 percent at 29,290 rupees/10 grams, with a trade volume of 638 lots. Market observers told that the increase in gold futures was particularly in line with a firm trend into foreign markets as a partial government shutdown took seventh day, spurring speculation that the political deadlock may encourage the Fed to prolong incentive.

MCX Trading Tips for Today. By MCX Commodity Advisory (100McxTips.com)

MCX Gold Trading Tips (December futures): Buy - 29300, with a stop-loss - 29 190 and Goals - 29 430

MCX Copper Trading Tips (Nov futures): Sell - 458, with a stop-loss - 464 and Goals - 448

MCX Crude oil Trading Tips (OCT futures): Sell - 6420, with a stop-loss - 6455 and target - 6350


For Trial Sure shot bullion, base metals & energy commodity trading tips visit us at www.100McxTips.com.

Today beginning with decline in gold & silver. due to stronger rupee MCX gold is around 1 per cent at about Rs 29,900. Silver fell by 1 per cent at Rs 48,000. Gold and a silver are also vulnerable to to international exchange. Crude oil has seen plummeting in domestically market. MCX crude oil is down 1.5 per cent fall to Rs 6,400.
Today offloading trend in base metals. MCX Copper is 1 per cent fall to Rs 450. Zinc, lead, aluminum, nickel is in the 1 to 0.5 per cent decline.




At MCX, Commodities delivery Open market  prices  – As on Oct 4, 2013

• COPPERM 29-NOV 2013, Opening Price: 452.80, High: 452.80, Low: 450.00
• COPPER 29-NOV 2013, Opening Price: 452.30, High: 452.30, Low: 449.70
• SILVER 05-DEC 2013, Opening Price: 48201.00, High: 48201.00, Low: 47990
• SILVERM 30-NOV 2013, Opening Price: 48512.00, High: 48512.00, Low: 48000
• SILVERMIC 30-NOV 2013, Opening Price: 48650.00, High: 48650.00, Low: 48150
• ZINCMINI 31-OCT 2013, Opening Price: 115.00, High: 115.00, Low: 114.10
• ZINC 31-OCT 2013, Opening Price: 115.00, High: 115.00, Low: 115.00
• LEADMINI 31-OC T2013, Opening Price: 127.05, High: 127.25, Low: 126.20
• LEAD 31-OCT 2013, Opening Price: 127.00, High: 127.00, Low: 126.20
• ALUMINIUM 31-OCT 2013, Opening Price: 111.10, High: 111.10, Low: 111.10
• ALUMINI 31-OCT 2013, Opening Price: 111.60, High: 111.60, Low: 111.20
• NICKELM 31-OCT 2013, Opening Price: 842.10, High: 842.10, Low: 839.50
• NICKEL 31-OCT 2013, Opening Price: 841.20, High: 841.20, Low: 839.00
• GOLDGUINEA 31-OCT 2013, Opening Price: 24100.00, High: 24100.00

For Today India Stocks Market Future Intraday Tips By 100McxTips

• Tata Motors DVR is a 'BUY' call with a target of Rs 185 and a stop loss of Rs 169.
• Cairn India is a 'BUY' call with a target of Rs 340 and a stop loss of Rs 328.
• Tata Motors DVR is a 'BUY' call with a target of Rs 185 and a stop loss of Rs 172.
• L&T Ltd is a 'BUY' call with a target of Rs 860 and a stop loss of Rs 810.
• Jindal Steel Ltd is a 'BUY' call with a target of Rs 255 and a stop loss of Rs 235.
• Bajaj Auto Ltd is a 'BUY' call with a target of Rs 2,170 and a stop loss of Rs 2,080.
• SAIL is a 'BUY' call with a target of Rs 60 and a stop loss of Rs 52.

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