MCX Commodity Closing Prices:
Closing price for a commodity is the last traded price in MCX exchange on a particular trading day (You may see gold price as 19,000 as the last traded price and next day you may see 19,010). When you open the online commodity trading screen on the very next trading day, closing price that you see may be different for that commodity. It may be up or low or same as the last traded price of previous trading day. The reason is that, last traded price in MCX may not be immediately reflected on your trading screen on that trading day. In USA, the late hours trading after the regular trading session make the difference. Closing price is very important to analyze the trend of that commodity over time or to predict the current trend. When you analyze the closing prices, you will be able to predict support level and resistance level by which you can do intraday trading or positional trading.
MCX Closing Price
MCX History Data for popular Commodity Products ‹‹‹
Kitco Closing Price
››› Kitco History Data for New York Gold/Silver Spot - Closing Bid Price ‹‹‹
Several retail investors and financial institutions know about support level and resistance level and will wait for the price to touch the lowest price(strong support) to place long calls and they will start buying (long call) at the lowest prices.
When the prices move up, then also they buy since they know the resistance levels. At one stage, there will be more resistance and no support level. They will sell the commodity, book profits and exit.
Similarly investors will also wait for the commodity to touch the highest price (no support) and high resistance to place short calls. When there is no support level, they place short calls (sell first and buy later) at the highest price and when the price goes to the lower level, they buy it, book profits and exit. This can be better understood by the following example.
Around September/October 2009, natural gas was trading around 170 (Strong Support Level). Because of the low price, investors thought it was strong support level and they bought several lots. As the price went up higher and higher more investors bought natural gas since there was more support and less resistance. Another reason was due to beginning of the winter so that consumption of natural gas will be more. On January 06 2010, it was around 272 plus, where it had no support and investors sold it and booked profits.
Since there was no support, several investors placed short calls around 272 and natural gas prices started to come down and touched around 175 on April 19 2010, where it found good support level. Investors bought it, booked profit and came out.
Again due to the low price of 175 (strong support level) investors bought and it increased around 240 in July 2010. There was no support and again prices dropped to 175 around September 2010. When you read the closing price of commodities, you may be able to predict the trend and the price fluctuation in winter/summer season for natural gas.
If closing price continuously closes on the higher side, then you can predict that commodity is bullish. You should be very careful about placing a sell (short call) when the commodity is in upward trend. Since the investment demand will be more, you have to wait, watch and trade. Similarly if it closes on the lower side, then it is bearish. It is not advisable to buy the commodity in the bearish market. Wait for some time; at one stage, it will not go down and it will tend to climb up. In that situation, you can buy.
Please follow the link "MCX History Data for popular Commodity Products" which will open an Excel spreadsheet containing closing prices from 27th July 2010 for commodities like Gold, Silver, Aluminum, Lead, Zinc, Copper, Nickel, Crude Oil and Natural Gas on a particular date along with contract expiry. This spreadsheet is updated regularly which will provide you the most recent closing prices of the above mentioned commodities.
MCX Closing Price
››› MCX History Data for popular Commodity Products ‹‹‹
Kitco Closing Price
Kitco History Data for New York Gold/Silver Spot - Closing Bid Price ‹‹‹
Commodities Demo Account/Practice Account
Closing Prices of NCDEX Traded Products