Saturday, July 9, 2011

Today MCX Commodity Market News (GOLD, COPPER, CRUDE OIL)

Gold prices climbed higher on Friday, as investors took shelter under the safe haven after a weaker than expected US employment data for June quashed hopes. The yellow metal prices rose for the fifth straight session. Copper prices weakened on Friday. Crude oil futures took a nasty blow and plunged sharply by around two and half a percent, their biggest on Friday. Crude oil prices for the week bounced back from four-month lows and settled with over a percent gains.

Bullions may open on flat note tracking mixed overseas cues.  
Base metals may open on flat note amid mixed movement in SHFE. 
In Domestic Market:-
Gold may trade in range of 22100-22300.
Silver may trade in range of 53,500-55,000. 
Copper may trade in range of 430-440.
Crude oil can trade in range of 4,300-4,400.