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Thursday 12 January 2017

Silver dips on weak global cues : 12 Jan 2017

Silver futures closed lower in the domestic market on Wednesday as participants engaged in trimming their positions taking weak cues from global market. Marketmen attributed the fall in silver prices at futures trade to a weak trend in the precious metals overseas and profit-booking by participants at existing levels.
At the MCX, silver futures for March 2017 contract closed at Rs 40,991 per kg, down by 0.26 per cent, after opening at Rs 41,037, against a previous close of Rs 41,096. It touched the intra-day low of Rs 40,570.

Gold futures closed higher in the domestic market on Wednesday with the U.S. dollar taking a turn lower as comments from President-elect Donald Trump fueled uncertainty in financial markets.
Gold is inversely influenced by moves in the dollar, as strength in the greenback makes assets priced in the currency, including most gold on the global markets, more expensive to buyers using other monetary units.
At the MCX, gold futures for February 2017 contract ended at Rs 28291 per 10 grams, up by 0.52 per cent, after opening at Rs 28,158 against a previous close of Rs 28,144. It touched the intra-day high of Rs 28,385.


Parag Patil is a technical analyst and trading system designer with stock excel programmer. I hope the articles and live chart of nse future and mcx on this Website will be as helpful and profitable to you . I try to update and post new articles tips everyday. My motto is to encourage the traders, so that they should able to understand the technique views behind the moment of stocks. I have deeply analyzed with many technical indicator with parameter and added to my amibroker afl. And even taken backtest report which is never being implemented. Any of the analyst expect me. Seeing all this you may understand that my views is more technical than commercial. If you are profited by my views I fill happy.

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