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MARKET OUTLOOK OF COMMODITY TODAY

YESTERDAY BUY CRUDE  HIT FIRST TGT 2499 MADE HIGH OF 2500!!!!!!!!!!!!!!!!!

“SELL GOLD BELOW 25120 TGT 25010/24920”

 Gold: Gold continues to consolidate in a narrow range between 25200— 25100 levels. The intraday outlook for the counter will remain negative until prices stay below 25280. Prices will move lower towards 25050 levels in that case. A near term reversal in the counter will be seen once prices breakout above 25420 levels. A re-test of 24926/24740 levels is likely once prices start to trade below 25000 levels.

Silver: Silver will slide lower towards 33170/33030 levels if prices sustain below 33400 levels. The counter needs to break above 33620 to bounce towards 33800 levels. Any meaningful pullback rally will be seen only if prices close above 33800. The broader technical set-up for the counter remains negative.

MARKET OUTLOOK OF COMMODITY TODAY

YESTERDAY SELL SILVER FEB CONTRACT ALMOST HIT FINAL TGT 33620 MADE LOW OF 33537!!!!!!!!!!!!!!!!!

“BUY CRUDE ABOVE 2460 TGT 2499/2540”

Jan. Crude Oil prices closed down with a cut of 3% yesterday. A break below 2426 levels will see prices correct towards 2386/2370 zones. Failure to trade below 2426 will trigger a pullback rally towards 2498/2515 areas.

Natural Gas (Rs./Mmbtu): Jan. Natural Gas prices are trading with a gain of 4% currently. If the momentum persists then prices will rally into its resistance zones starting from 155 to 162. Sharp correction can be seen from between these areas. Failure to sustain at higher levels will see prices correct towards 146.80/144 levels.

Lead: Lead prices are trading above its immediate resistance at 116.65 levels. Prices can rally into next resistance zones between 118.20—119. Intraday view for the counter will stay positive until prices hold on above 115.90 levels. Sustenance below this support will push the counter lower towards 114.60 levels.

MARKET OUTLOOK OF COMMODITY TODAY

“SELL SILVER BELOW 34000 TG 33800,33620”

Silver: Silver prices are trading below its immediate support at 33850. Sustenance below this level will push prices lower towards 33424/33150 zones again. Buying at support can lead to a sharp intraday bounce in the counter. The pullback rally will advance further only once prices breakout above 34500.

Gold: Gold prices needs to breakout above 25250 to rebound towards 25397/25415 levels. Any major upside in the counter is likely only once prices register a daily close above 25415 levels. A break below 25050 will push prices lower towards 24740 levels again. The broader view for the counter will remain negative until prices stay below 26000 levels.

WEEKLY COMMODITY MARKET VIEW

BUY  crude oil  ABOVE 2500 TG 2550,2600 SL 25450

International   markets are currently trading on a good position as  ,HANGSANG,NASDAQ,FTSC,DAX,TAIWAN INDEX are in green whereas NIKKIE,KOSPI,CAC are to be watched in red . on other hand  the Multi Commodity Exchange ( MCX);  bullion’s and energy have gained although  base metals are the loser’s on last day of trading day(week) . Energy had gained lot at weekend session.

Gold prices up by 0.99 per cent on Thursday as investors continued  for the increased likelihood that the QUARTERLY GDP rates will increase with USA JOBLESS data hopes.

Gold futures for February 2016 contract, at MCX, were trading at Rs. 25212  per 10 grams, up by 0.99per cent after opening at Rs. 25,173 against the previous closing price of Rs. 25082 . It touched the weekly low of Rs. 25055 on Wednesday market after release of GDP DATA.

Copper futures for febuary2016 contract, at MCX, made weekly high on starting day itself with rate of 317.60. And touched the low of 312 on Thursdays market and given a return on rallies.

Else above from these, energy sector  had given much high return among all the three segments (bullion, base metal energy) on both crude oil as well as natural gas . NATURAL GAS had increased  from 118.20 to 135.20 cover of  17points return in a week for buyers. whereas crude oil is has pull backed from 2402 to 2540.

Apart  from all these  copper was the top losers of these week and natural gas& crude oil are being top gainer of the week .

Upcoming week of market session will remain too volatile session as there are many events to be seen in these week as  crude oil inventories, natural gas inventory, base metal expiries, m3 money supply and many more

Gold resistance 25350,25500,25740 support 25140,25050,24920

Copper resistance 315,321,325 support 311,307,303

Lead resistance 118,119.55,121 support 114.40,113.20,111.10

MARKET OUTLOOK OF COMMODITY TODAY

YESTERDAY SELL GOLD FEB CONTRACTALMOST HIT FINAL TGT 25020 MADE LOW OF 25055!!!!!!!!!!!!!!!!!

MCX Feb Gold prices shed 184 points in the past session and ended in a negative zone. Overall bearish outlook remains unchanged and further fall is possible towards 24930 & 24770 levels. Hence, any bounce can be utilized to sell at 25165 levels.

SELL Around 25165 TGT 24930/24770 SL 25293

MCX Jan Crude oil has intact temporary uptrend by violating its falling trend-line resistance at 2430 levels and ended well above the same. In today’s session we expect that the oil price to extend the gains towards 2537 & 2586 levels. However, downside support lies at 2465 levels.

BUY Around 2465 TGT 2537/2586 SL 2426

MARKET OUTLOOK OF COMMODITY TODAY

“SELL GOLD BELOW 25200 TG 25100,25020 SL 25300”

Gold: Gold prices closed with a gain of 1.21% yesterday. Momentum above 25420 levels will push prices higher towards 25525/25623 levels. Intraday outlook for the counter will stay positive until prices stay above 25200. A decisive breakdown below this support will push prices lower towards 25080 levels.

Silver: We expect Silver prices to test its immediate resistance between 34500—34600 zones. A daily close above 34600 will open upside targets of 35150/35390 levels in the counter. Intraday dips will find support until prices hold on above 33870 levels. A decisive breakdown below this level will push prices lower towards 33450/33300 levels.

Crude Oil (Rs/Bbl):

MARKET OUTLOOK OF COMMODITY TODAY

Gold: Gold prices closed with a gain of 1.21% yesterday. Momentum above 25420 levels will push prices higher towards 25525/25623 levels. Intraday outlook for the counter will stay positive until prices stay above 25200. A decisive break down below this support will push prices lower towards 25080 levels.

Silver: We expect Silver prices to test its immediate resistance between 34500—34600 zones. A daily close above 34600 will open upside targets of 35150/35390 levels in the counter. Intraday dips will find support until prices hold on above 33870 levels. A decisive break down below this level will push prices lower towards 33450/33300 levels.

Copper: Copper can move higher until prices sustain above 312 levels. Momentum above 318 will see prices advance towards 320.50/321.65 levels. Fresh selling can come in as prices approach higher levels. A daily close below 312 will see prices correct towards 306.50/305 levels.

Zinc: We reiterate that Zinc needs to sustain above 101.50 for prices to advance higher towards 102.40/103 levels. Sustenance below 99.75 will push prices lower towards 98.65/97.90 levels. Traders can look to go long if prices start to show momentum above 101.50 levels today.

MARKET OUTLOOK OF COMMODITY TODAY

Natural Gas (Rs./Mmbtu): Natural Gas prices are trading down with a cut of 3.27% currently. Prices can now test its major support at 112.30 levels from here on. Intraday outlook for the counter will remain negative until prices stay below 120. Intraday rallies towards 118—119 zones can be sold into by traders. Any major reversal in the counter is likely only above 123.50.

Crude Oil (Rs/Bbl): Crude Oil prices will weaken further if prices start to trade below 2300 levels. Prices will correct towards 2278/2245 levels in that case. The counter needs to sustain above 2340 levels will see prices bounce towards 2370/2380 levels. A break above 2380 is required for prices to rebound further towards 2440 areas. The broader technical outlook for the counter remains negative.

COMMODITY MARKET WEEKLY OUTLOOK

SELL GOLD BELOW 25000 TG 24700,24400 SL 25350

International   markets are currently trading on a dull (NIKKIE,HANGSANG,KOSPI,NASDAQ,CAC) where at the Multi Commodity Exchange ( MCX); five of the six indices are trading lower. Lead and copper had gained at weekend session.

At the MCX, MCXCOMDEX was trading around  20% down ,MCXMETAL was trading at 40%up.MCXENERGY 25%down  and MCXAGRI was trading at 20%.

Gold prices fell by 1.02 per cent on Thrusday as investors continued to brace for the increased likelihood that the Federal Reserve will raise interest rates for the first time in nine years when it meets next week.

Gold futures for February 2016 contract, at MCX, were trading at Rs. 25,080  per 10 grams, down by 1.02 per cent after opening at Rs. 25,606 against the previous closing price of Rs. 25,679. It touched the weekly low of Rs. 24740 on thrusday market.

Copper futures for febuary2016 contract, at MCX, made weekly high on starting day itself with rate of 319.45. And touched the low of 302.75 on thrusday’s market and given a high return on rallies.Else above from these, energy sector also had given high return on both crude oil as well as natural gas . NATURAL GAS has fallen from 135 to 115 purely 20points return in a week for sellers. Wheras crudeoil is seen in both trend bull as well as bear and ended with the rate of 2292 of dec month series. Now jan contract is going to start from Monday market which had given closing of 2402.

MARKET OUTLOOK OF COMMODITY TODAY

YESTERDAY SELL GOLD FEB CONTRACT HIT FINAL TGT 25000 MADE LOW OF 24741!!!!!!!!!!!!!!!!!

Gold: Gold prices will move lower only on a decisive break down below 25150 levels. Until then counter will take support around 25200 and rebound towards 25450/25500 levels. A decisive break down below 25150 will push prices lower towards 25000/24950 levels. A daily close above 25500 will see prices rally towards 25747/25850 levels.

Silver: Silver rallied towards 34460 levels once prices broke out above resistance at 33750. Dips will find support between 33800—33700 zones. Sustenance below 33700 will push prices lower towards 33500/33350 levels. A re-test of 34500 levels will be seen once prices start to show momentum above 34200. A daily close above 34500 will open upside targets of 35000/35370 levels.

Crude Oil (Rs/Bbl): Crude Oil prices have retraced back to its support around 2327 levels. Sustenance below this level will push prices lower towards 2278/2250 levels. The counter needs to show momentum above 2375 to rebound towards 2426/2450 levels again. Until then, intraday rallies will face resistance between 2360—2375 zones.

Natural Gas (Rs./Mmbtu): Natural Gas prices will move higher only once prices breakout above 123 levels. Momentum above this level will trigger a pullback rally towards 126 levels. Failure to sustain above 123 will see the downtrend resume towards 117.10/113 levels. Next major support is placed around 113 areas.

MARKET OUTLOOK OF COMMODITY TODAY

YESTERDAY SELL GOLD FEB CONTRACT ALMOST HIT FINAL TGT 25110 MADE HIGH OF 25141!!!!!!!!!!!!!!!!!
“SELL GOLD FEB CONTRACT 2LOTS BELOW 25200 TG 25100,25000”

Gold: Gold prices will move lower only on a decisive break down below 25150 levels. Until then counter will take support around 25200 and rebound towards 25450/25500 levels. A decisive break down below 25150 will push prices lower towards 25000/24950 levels. A daily close above 25500 will see prices rally towards 25747/25850 levels.

Silver: Silver rallied towards 34460 levels once prices broke out above resistance at 33750. Dips will find support between 33800—33700 zones. Sustenance below 33700 will push prices lower towards 33500/33350 levels. A re-test of 34500 levels will be seen once prices start to show momentum above 34200. A daily close above 34500 will open upside targets of 35000/35370 levels.

Zinc: A decisive break below 97.90 will push Zinc prices towards next support between 96.50—96 zones. A decisive breakout above 99 will push prices higher towards 100.10/100.60 levels again. A daily close above 101 will be positive for the counter. Counter will rally towards 103.05/103.60 levels in that case.

 Lead: Lead prices can correct up to 107.60—107.15 zones. Intraday pullback rallies towards 111/111.50 levels is likely but selling can drag prices lower. We don’t expect to break below 107 levels. A sharp bounce is likely if prices enter 107.50—107.15 areas.

Thu, Dec 17 UPCOMING DATA:

TODAY MARKET OUTLOOK FOR COMMODITY

“SELL GOLD FEB CONTRACT 2LOTS BELOW 25300 TG 25200,25110”

GOLD: Gold prices are expected to trade sideways to up for a pullback. One can buy around 25200 with a stop loss below 25030.

GOLD S3 S2 S1 24800 25000 25200 R1 R2 R3 25320 25450 25600

SILVER Silver prices are expected to test 34000-100. One can buy around 33400 with a stop loss below 33000.

SILVER S3 S2 S1 32800 33150 33500 R1 R2 R3 33850 34150 34500

COPPER Copper prices are likely to trade sideways from 305 – 315. One can buy with a stop loss below 305.

COPPER S3 S2 S1 302 305 309 R1 R2 R3 312 315 317

NICKEL Nickel prices are expected to trade sideways from 565 – 595. One can buy with a strict stop loss below 565.

NICKEL S3 S2 S1 558 565 572 R1 R2 R3 580 588 597

TODAY MARKET OUTLOOK FOR COMMODITY

Gold: Gold prices are trading below its immediate support around 25300 levels. Prices can weaken towards 25190/25144 levels from here on. A daily close below 25150 will see prices re-test its recent swing lows at 24926 levels. Counter needs to breakout above 25320 levels to rebound towards 25450 areas again.

Silver: The outlook for silver will remain weak until prices trade below 33800 levels. Sustenance below 33380 will push prices lower towards 33150 levels. A sharp bounce cannot be ruled out in case prices test this support. Momentum above 33800 will help the counter rebound towards 34050/34200 zones.

Crude Oil: Dec. Crude oil prices managed to bounce from its swing lows at 2327 levels yesterday. Sustenance above 2475 will help the counter bounce further towards 2515/2540 zones. A re-test of 2327 levels will be seen only if the counter starts to trade below 2397 levels. Until then prices will trade between 2397 to 2540 zones.

Natural Gas : The view for Dec. Natural gas prices will remain negative until prices stay below 129 levels. Sustenance below 125.50 will push the counter lower towards

TODAY MARKET OUTLOOK FOR COMMODITY

Gold: Gold will retrace lower until prices stay below 25525 levels. A decisive break down below 25400 will see Gold prices slip towards next support around 25270 levels. Momentum above 25525 will help the counter rebound towards 25625/25700 levels again. We expect the counter to be range bound for today’s session.

Silver: We expect Silver prices to trade weak and move lower towards 33412/33250 levels over the coming sessions. Intraday resistance for the counter is seen between 34160—34292 areas. Pullback rallies into these zones will find resistance. A daily close above 34300 is required for a reversal in the counter.

Crude oil

MCX Dec Crude oil prices continued to maintain it’s broader down bias by forming lower bottoms on weekly charts. A sharp breakdown from the recent swing low 2577 levels renders that the bears remains unrest in the counter and further weakness is possible towards the falling channel support at 2110 levels, meanwhile 2007’s low of 2278 will also act as an immediate objective on downside. However, an oversold RSI in daily charts indicates some corrective pullbacks in the counter and one can utilize the same to create fresh shorts at 2473 levels.

Copper:

WEEKLY OUTLOOK FOR GOLD AND WEEKLY CHART

WEEKLY CHART FOR GOLD:

WEEKLY REVIEW:

Gold was headed for the seventh weekly drop in eight weeks as investors positioned for a looming U.S. rate hike. A robust dollar was limiting interest in gold. The greenback rebounded from a one-month low on Thursday, boosted by rate hike expectations. Outlook Weakness in oil is hurting bullion as a slide in oil could trigger fears of deflation, a bearish factor for gold, which is often used as a hedge against oil-led inflation. Short positions in COMEX gold futures and options are at record highs, while assets in SPDR Gold Trust, the top bullion exchange traded fund, are at their lowest since Sept. 2008.As the FOMC policy meet approaches the investors are turning more cautious on gold. For the day we recommend a Sell in gold.

The Outlook for Gold will remain negative until prices stay below 25600 levels intraday. A decisive break down below 25240 will push prices lower towards 25144/25080/25000 areas. The counter needs to trade above 25500 mark to rebound towards 25800/26000 levels.

TODAY MARKET OUTLOOK FOR COMMODITY

Gold: The Outlook for Gold will remain negative until prices stay below 25500 levels intraday. A decisive break down below 25240 will push prices lower towards 25144/25080/25000 areas. The counter needs to trade above 25500 mark to rebound towards 25634/25700 levels.

 Silver: Sustenance below 34150 will see silver prices weaken towards 34000/33850 zones. Intraday pullback rallies will face resistance between 34325—34400 zones. We expect the counter to trade in a range between 33850—34500 levels with a negative bias.

Nickel: Nickel prices will move higher once the counter breaks above 594 levels decisively. Prices will rally towards 601.50/610 levels in that case. The outlook for the counter will turn negative only if prices breakdown below 570. Until then intraday dips will find support between 579/575 zones.

 Aluminium: Aluminium prices can test resistance between 101.50/102.10 zones. The intraday outlook for the counter will remain positive until prices stay above 99.85 levels. A decisive breakdown below this support will see prices slip back towards 99 levels again.

Gold premiums in India fell this week as a quick rebound in prices prompted consumers to postpone purchases, but buying interest

NEWS:

· In China remained strong ahead of the spring festival early next year.  Aluminium producer China Hongqiao Group said on Thursday it will cut annual capacity by 250,000 tonnes immediately, the latest

TODAY MARKET OUTLOOK FOR NATURAL GAS AND BULLION

Natural Gas: U.S. natural gas futures ended little changed on Wednesday as forecasts for continued weak heating demand offset declining production expectations and an early round of short covering after a price rout earlier in the week. In addition, traders noted the market held steady as they wait for the federal government to release a storage report expected to show utilities withdrew a near-normal 65 billion cubic feet of gas from inventories last week. Both the U.S. and European weather models forecast temperatures would remain well above normal through late December, keeping heating demand low. Thomson Reuters Analytics said it expected gas production in the lower 48 states to fall below year-ago levels on Wednesday for the seventh day in a row. Outlook: We expect Natural gas prices to trade sideways as weak demand could keep prices under pressure and short covering after slump in prices is likely to support the prices.

Gold: Failure to break below 25387 will see Gold prices consolidate between 25450—25400 levels and bounce back towards 25614/25700 levels again. Sustenance below 25387 will see prices weaken towards 25250/25150 levels. Any major upside is likely only on a daily close above 25800 levels.

Silver: Silver prices couldn't sustain at its intra day highs at 34799 levels yesterday. Any major downside in the counter is likely only if prices break down below 34150 levels decisively. Until then counter will find support between 34300—34150 zones. The counter will witness momentum only once prices trade above 34600. A daily close below 34150 will open downside targets of 33850/33600 levels for silver.

TODAY MARKET OUTLOOK FOR BASE METALS AND BULLION

From the base metals sector, the metals ended the day on a mixed note as the economic data from China continued to drive the market sentiment. The trade balance data from China indicated a rise in the imports of Copper while the exports for unwrought Al and Al products made a sharp rise, adding onto the pressure for the metal. The CPI data from China stood better than the expected levels however the PPI continues to remain weak raising questions over the sustainability of the recent gains in the metals sector. For the day, we do not have much economic data and therefore expect the metals to sway as per their respective fundamentals. Overall, we recommend selling Nickel, Aluminum from higher levels whereas suggest buying Copper from lower levels. In case of Lead and Zinc, we expect the metals to remain range bound for the day.

TODAY MARKET OUTLOOK FOR BASE METALS

Base metals pulled back from a two-week high on pressure from a stronger dollar and continued concerns about weaker global demand for the industrial metal. are also bracing for a slew of Chinese economic data, with inflation, trade, retail sales and industrial production reports all due this week. Today’s China’s trade balance came in a notch lower than expectations where the overall surplus came in at $54.10 billion, compared to an expected $63.30 billion. Also in Japan, third quarter GDP slumped 0.8% year-on-year compared to a 0.2% fall seen and fell 0.2% quarter on-quarter compared to a 0.1% drop expected. For the day we recommend a sell in all metals except All where a range bound trade can emerge.

MAJOR ECONOMIC DATA TODAY Major economic release for the day

COMMODITY NEWS AND UPDATE OF 07 DEC 2015

"BUY NICKEL DEC CONTRACT ABOVE 605 TGT 610/620 "

With the conclusion of major events last week, the focus now shifts back to macro-economic figures from the US this week. The FED chair Janet Yellen in a testimony to the JEC said that a rate hike is warranted given the improving economic situation, adding that incoming data over the next week needs to be checked before the final decision can be made. Given that the rate hike is more or less priced in, commodities are unlikely to suffer a major shock when and if the eventual rates are hike in the Dec 15-16 meeting. Yellen also mentioned that subsequent rate hikes would be delayed as we go ahead. The major shocker last week was the OPEC meeting where not only did the cartel keep production steady, it actually removed the collective quota potential paving way for further supplies. With the inclusion of Indonesia into the group and further supply coming in from Iran going into next year, oil can only go down further.

Evening Update - Dec 07, 2015

Gold Dec down by 0.04%, Copper up 0.92%

Gold futures bounced off six-year lows in spite of a strong dollar, as an optimistic U.S. jobs report paved the way for the Federal Reserve to lift short-term interest rates later this month at a highly-anticipated meeting. Gold Dec 15 contract was down by 0.04% to Rs.25281.00 per 10 gram. Gold Feb 16 contract was down by 0.15% to Rs.25423.00. Gold April 16 contract was down by 0.39% to Rs.25477.00 per 10 gram. Goldguinea Nov 15 contract was down by 0.61% to Rs.20127.00 per 8 grams while GoldPetal Nov 15 contract was down by 0.28% to Rs.2504.00 per gram.

Silver Dec 15 contract was up by 0.74% to Rs.34081.00 per kg. Silver Mar 16 contract was up by 0.52% to Rs.34713.00. Silver May 16 contract was also up by 0.81% to Rs.35103.00 per kg. 

Crude futures fell considerably on Friday, as OPEC declined to cap its production ceiling after the divided group was unable to agree on a strategy to curb the continuing oversupply on global energy markets at a contentious meeting in Vienna. While Friday's decision was not unexpected, the ambiguous policy statement may create further instability on worldwide markets as the leaders left Austria seemingly without any strategy for rescuing prices from near-record lows. Instead, OPEC leaders demurred at the semiannual meeting, opting to wait at least six months to update its production quota when it meets next in June. Gold likely gained support at $1,046.20, the low from Dec. 3 and was met with resistance $1,110.70, the high from Nov. 7.

Commodity Market News on Gold,Silver

GOLD IS ON FIREEEEEEE !!!!!!!!!!!!!!!!!!!!!!!

HIT FINAL TGT 25220 MADE LOW OF 25157

MCX SILVER March contract was trading at Rs 34312 up Rs 56, or 0.16 percent. The SILVER rate touched an intraday high of Rs 34325 and an intraday low of Rs 34150. So far 4015 contracts have been traded. SILVER prices have moved down Rs 3871, or 10.14 percent in the March series  MCX GOLDM January contract was trading at Rs 25136 down Rs 34, or 0.14 percent. The GOLDM rate touched an intraday high of Rs 25250 and an intraday low of Rs 25066. So far 3751 contracts have been traded. GOLDM prices have moved down Rs 1664, or 6.21 percent in the January series 

Natural Gas and gold slips ahead of weekly storage data

Natural Gas futures plunged by over 1.7 per cent in the domestic market on Wednesday as investors and speculators exited positions in the energy commodity tracking a weak trend in the overseas market amidst caution ahead of the weekly US storage data which may signal the strength of the fuel in the world’s biggest economy.

Yellen comments

Gold futures ended lower in the domestic market on Wednesday as investors and speculators exited positions in the precious metal tracking weakness in the overseas market after Fed Chair Janet Yellen indicated that the world’s top central bank is on track to raise interest rates for the first time in almost a decade this month, curbing the lure for the bullion as a store of value.

Yellen stressed that the world’s biggest economy is ready for higher borrowing costs, while a bullish US private payrolls report for November which showed that the US private sector added most workers in five months also bolstered the case for policy tightening.

gold slumped to a near-six-year low on Thursday after comments from Federal Reserve chair Janet Yellen virtually cemented the case for a US rate hike this month, while the strength in the dollar also pressured the metal.

MCX Gold and silver April contract gains

SELL FEB GOLD@ 25415 TGT 25320-25220

MCX GOLD December contract was trading at Rs 25169 up Rs 100, or 0.40 percent. The GOLD rate touched an intraday high of Rs 25218 and an intraday low of Rs 25152. So far 302 contracts have been traded. GOLD prices have moved down Rs 1930, or 7.12 percent in the December series .

MCX GOLD February contract was trading at Rs 25370 up Rs 107, or 0.42 percent. The GOLD rate touched an intraday high of Rs 25424 and an intraday low of Rs 25354. So far 2049 contracts have been traded. GOLD prices have moved down Rs 1060, or 4.01 percent in the February series .

MCX SILVER December contract was trading at Rs 33621 up Rs 141, or 0.42 percent. The SILVER rate touched an intraday high of Rs 33670 and an intraday low of Rs 33550. So far 351 contracts have been traded. SILVER prices have moved down Rs 5499, or 14.06 percent in the December series .

MCX SILVER March contract was trading at Rs 34328 up Rs 123, or 0.36 percent. The SILVER rate touched an intraday high of Rs 34387 and an intraday low of Rs 34300. So far 1073 contracts have been traded. SILVER prices have moved down Rs 3855, or 10.10 percent in the March series .