Mcx Metal Market Report: 13th December 2019

Insignia Consultants

New Delhi

Friday, 13 December 2019

TIME 8:35 AM IST                         

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MCX METALS MARKET REPORT

Gold February and silver March rose yesterday to a high of 38068 and 44630 yesterday and then crash and closed lower. Nearing of US-China trade deal was the cause.  Gold and silver rose initially as they were trading below cost in MCX.  European central bank chief press conference boosted gold and silver bulls. “Punctured” is the word I will use after gold and silver prices crashed like a pack of cards after news on nearing of US-China trade deal.

MCX DAILY PEFORMANCE
	Closing Price
MCX FUTURE	12-Dec-19	11-Dec-19	%gain/loss
Gold February 2020	37,544.00	37,699.00	-0.41
Silver March 2020	43,926.00	43,825.00	0.23
Crude oil Dec 2019	4,200.00	4,156.00	1.06
Natural Gas Dec 2019	163.30	160.50	1.74
Copper Dec 2019	441.95	442.05	-0.02
Zinc Dec 2019	182.70	181.25	0.80
Lead Dec 2019	153.20	153.85	-0.42
Nickel Dec 2019	1,020.70	1,014.30	0.63
Prices of MCX futures are in Indian rupees above)

Today focus will be on impact of UK election results on Brexit and signing of US-China trade deal and official statement from both nations. Remind you that the actual trade deal is yet to be signed. Copper and industrial metals if they rise today will zoom. Crude oil is bullish at the moment. Intraday volatility will be like yesterday in gold and silver.
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Disclaimer: Any opinions as to the commentary, market information, and future direction of prices of specific currencies, metals and commodities reflect the views of the individual analyst, In no event shall Insignia Consultants or its employees  have any liability for any losses incurred in connection with any decision made, action or inaction taken by any party in reliance upon the information provided in this material; or in any delays, inaccuracies, errors in, or omissions of Information. Nothing in this article is, or should be construed as, investment advice. All analyses used herein are subjective opinions of the author and should not be considered as specific investment advice. Investors/Traders must consider all relevant risk factors including their own personal financial situation before trading. Websitewww.insigniaconsultants.in. Prepared by Chintan Karnani

Disclosure: Members, employees, directors, clients and all other people associated with “Insignia consultants” do trade in MCX metals and energies. They may or may not have positions on the trading strategies mentioned in this report. They may also have open positions in MCX metals and energies futures in trading strategies other than those mentioned in this report.

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NOTES TO THE ABOVE REPORT

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