Wednesday, July 6, 2011

Today MCX Commodity Market Report (Bullions, Metals, Crude)

Bullions may open on firm note tracking positive international cues. Gold may trade in range of 21,800-22,100 and silver may trade in range of 52,500-53,500 in domestic market. Base metals may open on flat note amid mixed movement in SHFE. Copper may also trade in range of 426-430. Energy prices may trade in firm path tracking firm international cues as it can test 4,400 in domestic market. 
  • Gold prices rallied by around two percent on Tuesday. 
  • The yellow metal prices jumped despite the strength in American green back.
  • Copper prices extended their uptrend for a sixth straight session on Tuesday as investors continued to pile up hefty positions in the base metal.  
  • Crude oil prices rose more than 2 percent on Tuesday.
Trading Strategies :-
  1. MCX Gold August contract is currently trading at Rs. 22036, it is trading marginally positive for the day. 
  2. MCX Silver Sep is currently trading at Rs. 53833, it is trading up by 1.33% for the day. 
  3. MCX Crude Oil July contract is currently trading at Rs. 4236.