Tuesday, July 5, 2011

Today MCX Commodity Market Report and Trends

Bullions may open on firm note tracking positive international cues. Gold may test Rs. 22,900 and silver Rs. 52,000 in domestic market. Spot gold held steady on Tuesday. Base metals may open on flat note amid mixed movement in SHFE. Copper rose on Monday as market sentiment brightened in the wake of solid US manufacturing data last week. Energy prices may also trade flat waiting for further economic data and European news. U.S. crude futures edged up on Tuesday to remain above USD 95 a barrel.

Gold futures moved higher on Tuesday after a warning by ratings agency Standard. Copper prices surged to its highest in more than two months on Monday. Crude prices moved higher on Monday, though the US markets were closed for the Independence Day public holiday.
  • MCX Gold August contract is currently trading at Rs. 21755, it is trading flat for the day. 
  • MCX Silver July is currently trading at Rs. 50280, it is down by Rs. 280 for the day.
    MCX Crude Oil July contract is currently trading at Rs. 4230. 
  • All Base Metals in MCX have opened marginally negative in today's morning  session.
  • Lead and Zinc are down by 0.5%. 
  • Copper is trading flat for the day.