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Posted on 21 July 2012.
The MCX market is the leading exchange in India for commodities. It has been declared the 5th largest commodity exchange in the world, at least in terms of the number of contracts that were traded in the first half of 2011. Bullion trading is dealing in precious metals like silver and gold. India is one of the world’s largest importers of gold; this is because gold is the ultimate symbol of wealth in the Indian Culture. Created from a distrust of banks, Indians focus on accumulating gold instead of simple currency.
World politics can have a major impact in commodities trading and the MCX market. Recently the Indian Government has caused a great upheaval in the gold market; wanting to take advantage of their own people’s obsession with gold, the government of India has levied heavy taxes on the sale of gold and duties on importing it. The acts of the government have caused a major decline in the amount of value of gold trading; some people see this as a bad sign, but others will use this information to make huge profits. The people of India still want gold and after a self-imposed strike has lifted, the price of gold will skyrocket and savvy investors will rake in the profits.
Trend analysis is simply a must and deciding whether to trade in gold, silver, or platinum can have a large impact on how an investor trades. Silver is a fairly steady market and can offer smaller guaranteed returns, because it is considered the poor man’s metal; it has a high supply and an equal demand, which keeps product moving. The MCX market offers many new opportunities in commodities trading, especially when dealing with bullion.
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