Monday, July 4, 2011

MCX Commodity Market Report Today | FREE MCX Tips

Bullion counter may open on positive note tracking firm prices in electronic markets. Gold can also witness short covering after last week meltdown as its prices can test 21800 while silver can also bounce back to 52,000 levels in MCX. Base metals may continue its upside momentum tracking firm prices in SHFE. Copper extended gains on Monday after data last week showed that U.S. manufacturing grew at a surprisingly strong pace in June. Crude oil may remain sideways and lack of movement can be seen as NYMEX will remain closed due to holiday in US. Domestic market prices will trade in range of 4,200-4,280. 
  • Precious metals are trading marginally higher on COMEX today. 
  • Base metals are trading marginally higher on International bourses today. 
  • Crude oil is trading stable on NYMEX today.
Copper for three-month delivery on the LME advanced $31.25 or 0.3% to $9,430 a tonne.

Crude oil for August delivery
added 40 cents, to $95.34 a barrel on the New York Mercantile Exchange. In London, Brent crude oil for August delivery rose $0.07 to $111.84 a barrel on the ICE.