Friday, June 24, 2011

MCX Commodity (GOLD, COPPER, CRUDE) Report Today

Gold futures settled sharply lower Thursday, tracking a broad commodities sell off to break a seven-session winning streak as prices of crude oil fell more than 4% and the U.S. dollar strengthened. Precious metals are trading marginally higher on COMEX today. We expect prices to remain under pressure on account of dollar weakness. Base metals are trading higher on International bourses today. We expect a bounce back in the prices in the following session; hence each rally should be considered as a good selling opportunity.  Crude oil is trading higher on NYMEX today. We expect prices to remain under pressure on account of release of emergency oil stockpiles coordinated by the International Energy Agency.

Gold for August delivery fell $32.90, to $1,520.50 an ounce.
MCX Gold August contract is currently trading at Rs. 22396, it fell by Rs. 325 in yesterday's trade.  

Silver for July delivery is trading marginally $35 an ounce, it was down by $1 yesterday. 

MCX Silver July is trading at Rs. 52470, it is down by Rs. 234 for the day.

All Base Metals in MCX are trading marginally positive for the day.

MCX Crude Oil July is trading at Rs. 4139, it is trading flat for the day.

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