Wednesday, June 8, 2011

MCX Commodity market hot news and trading tips today

MCX Gold may remain afloat or even register modest gains as weakness in rupee shifts advantage to the local gold from imports. Precious metals are trading lower on COMEX today. We expect prices to remain under pressure on account of weak dollar and slowing economic growth. Base metals are lower on International bourses today. We expect further depreciation in the prices due to slow economic growth in U.S. Crude oil is trading lower today. We expect prices to continue their downward trend as it is  expected that OPEC members will agree to raise global oil supplies

At the Multi Commodity Exchange (MCX), COMDEX is trading down by 18.77 points, or 0.54%, at 3,440.81 after opening at 3,456.74. MCXMETAL is trading downward by 43.60 points, or 0.96%, at 4,490.91 after opening at 4,527.13. MCXENERGY is trading down by 7.54 points, or 0.24%, at 3,160.09 after opening at 3,165.75. MCXAGRI is trading up 4.65 points, or 0.18%, at 2,590.18 after opening at 2,584.22.