Commodity updates 30 March 2016, Trading Tips for MCX Silver

Gold surged more than 1% on Wednesday bouncing off one-month lows from the previous session, buoyed by a softer dollar and Federal Reserve chair Janet Yellen’s remarks that the U.S. central bank should be cautious in raising interest rates.

Copper dipped on Tuesday as the dollar strengthened ahead of a speech by Federal Reserve chair Janet Yellen who could signal interest rate hikes later this year.

Crude futures edged down sharply on Tuesday, ahead of the American Petroleum Institute’s weekly inventory report, paring some losses following dovish remarks from Janet Yellen on the Federal Reserve’s intentions to maintain a gradual path for future interest rate hikes.

BUY SILVER MAY ABOVE 36750 TARGET 37000/37250 WITH STOPLOSS OF 36490. Technically Silver had taken crucial support from 36300 on yesterday and even gave close above it. While ADX, CCI, Money flow index and MACD indicate some profit booking opportunity in it. So, traders should go for buy on lower level strategy.

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