MCX GOLD Tips and Updates For Today - 13 July 12

Physical gold traders in India took to the sidelines on Friday as prices recovered partially from their lowest level in a month, in line with overseas markets. However, a firm rupee kept the lid on gains.

At 1:40 p.m., the most-active gold for August delivery on the Multi Commodity Exchange (MCX) was 0.18% higher at Rs 29,274 per 10 grams, recovering form the previous session's low of Rs 29,161, a level last seen on June 8.

MCX GOLD Tips For Today
Buy around 29250 SL 29100 target 29550
Trading Levels:- R2 29800 R1 29500 S1 29000 S2 28800

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MCX Crude Oil Trading Tips

Oil prices rose above USD 87 a barrel Friday in international markets. Benchmark U.S. crude rose by USD 1.02 to finish at USD 87.10 a barrel in New York, while Brent crude increased by 35 cents per barrel to USD 101.42 a barrel in London.

In other futures trading, heating oil rose by 1.49 cents to end at USD 2.7882 per gallon and wholesale gas added a penny to finish at USD 2.8161 per gallon. Natural gas was unchanged, ending the week at USD 2.874 per 1,000 cubic feet.

In Domestic market, after last trading moves, prices are looking attractive for an upside push if it breaks above 4815 region consistently targeting levels of 4860/4895. On the flip side, prices have to splinter past 4775 region initially to test levels of 4745/4715 and even lower towards 4685 region.