Friday, July 1, 2011

Today MCX Commodity Market Report For Bullions, Metals, Crude

Gold prices snapped the two session uptrend on Thursday. Copper prices concluded a hat-trick of positive closes on Thursday and jumped to their highest levels in two months. Crude oil prices moved higher on Thursday. 
  • Bullions may continue yesterday losses and can tumble further lower due to decline in safe haven demand and decline in crude oil prices. Spot gold was flat on Friday. 
  • Base metals may remain on volatile path. Copper may trade in range of 417-424 levels in MCX, while Nickel may trade in range of 1,035-1,060 in MCX. 
  • Crude oil can slip further and can trade in range of 4,150-4,300 in MCX.