The precious metals complex has again reported gains over the week with moderate gains in Gold and significant gains in Silver, as it seems those who have gone for spread trading have covered their positions in both the metals. Base metals were mostly higher as supply growth concerns overshadowed China demand-growth worries..........
At the Multi Commodity Exchange (MCX), COMDEX is trading down by 18.77 points, or 0.53%, at 3,498.68 after opening at 3,519.76. MCXMETAL is trading downward by 22.50 points, or 0.49%, at 4,579.70 after opening at 4,608.20. MCXENERGY is trading down by 21.82 points, or 0.67%, at 3,218.71 after opening at 3,241.78. MCXAGRI is trading down by 8.96 points, or 0.34%, at 2,596.33 after opening at 2,602.97.
At the Multi Commodity Exchange (MCX), COMDEX is trading down by 18.77 points, or 0.53%, at 3,498.68 after opening at 3,519.76. MCXMETAL is trading downward by 22.50 points, or 0.49%, at 4,579.70 after opening at 4,608.20. MCXENERGY is trading down by 21.82 points, or 0.67%, at 3,218.71 after opening at 3,241.78. MCXAGRI is trading down by 8.96 points, or 0.34%, at 2,596.33 after opening at 2,602.97.
Gold and Silver remained steady in the international market. However, temporary hike in margin by Shanghai Exchange ahead of the Dragon Boat Festival weighed on silver. Base metals in Shanghai fell as debt problems in euro zone loomed large over the markets. LME remained closed on Monday on account Spring Bank Holiday. Base metal complex in MCX was weak with nickel shedding more than one per cent. Crude oil edged lower on expectations that the OPCE may increase output in May.
