Daily Updates about Mcx Commodity Report by Money CapitalHeight.

Gold tumbled 19 percent this year, falling into a bear market last month, as some investors lost faith in the metal as a store of value and equities rallied on confidence that the U.S. economy is improving. U.S. data showed last week consumer sentiment and an index of leading indicators topped estimates, while Federal Reserve Bank of San Francisco President John Williams said the central bank may begin to cut monthly bond purchases from as early as this summer.

Silver, used in products from solar panels to batteries, also entered a bear market in April. Global photovoltaic installations rose at their slowest pace in at least six years in 2012, according to Natixis SA, citing a report by the European Photovoltaic Industry Association. Weak European solar-panel sales will constrain growth in industrial demand for silver, Natixis wrote in a May 16 report.

Natural Gas futures for May delivery on India’s Multi Commodity Exchange (MCX) is trading marginally positive and traders with risk appetite may sell with the stop loss above 233.

“For intra-day, support for natural gas futures is seen at 226 & 223 levels while resistance at 230 and 233 levels,” said Tarang Parmar, Research Analyst at Commodity Online.

“Traders with risk appetite may sell near 230 with stop loss above 233 and can wait for the targets of 226 and 224,” he added.

MCX natural gas futures for May delivery was seen trading up by 0.22% at Rs.226.50 as of 04.41 PM IST on Monday.

Commodity Outlook

Gold extends the biggest losing streak in four years. Natural gas advances on NYMEX gaining as much as 1.4%. Crude Oil fluctuates on concerns of Middle East instability. Copper tumbles on Comex as demand from Chine seen falling.

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