Thursday, June 16, 2011

MCX Commodity (GOLD, COPPER, CRUDE) Report & Tips Today

At the Multi Commodity Exchange (MCX), COMDEX is trading up by 7.53 points, or 0.22%, at 3,381.10 after opening at 3,373.61. MCXMETAL is trading upward by 10.35 points, or 0.23%, at 4,444.73 after opening at 4,434.48. MCXENERGY is trading up 15.78 points, or 0.52%, at 3,076.28 after opening at 3,072.42. MCXAGRI is trading down by 13.11 points, or 0.51%, at 2,539.71 after opening at 2,556.57.

Gold prices advanced for second successive day as investors took refuge under the safe haven after a slew of frail US economic reports augmented worries that US economic growth is stumbling while fresh worries over Greece's debt situation too supported the prices of bullion. Copper prices receded on Wednesday, a session after spurting almost three percent, as investors choose to book profits amid the growing perception that the US economy is cooling coupled with highly uncertain global setup. Crude oil prices tumbled on Wednesday, losing over 4 percent in a day and posting its lowest closing since February 22. Series of weak economic data weighed heavily on the crude.

Gold futures for August delivery advanced by $1.80 to settle at $1,526.20 an ounce, after trading as high as $1,535.70 and as low as $1,514.50, on the Comex division of the New York Mercantile Exchange. 

Copper futures for September delivery slipped 3.45 cents to settle at $4.1390 per lb, after trading in the range of $4.1305 to $4.20, on the Comex metals division of the New York Mercantile Exchange.

Benchmark crude for July fell $4.56, or 4.59 percent, to settle at $94.81 a barrel, the lowest settlement since front-month crude closed at $93.57 on Feb. 22 on the New York Mercantile Exchange.