Wednesday, August 3, 2011

MCX Commodity Market (Bullions, Metals, Crude) Updates

Bullions may continue yesterday gains tracking firm international markets. Gold surged to a fresh record high on Wednesday. Base metals may open on sideways with negative note. LME copper fell on Wednesday. Crude oil can also open in red tracking weak opening in international markets.

Gold spot added $40, to $1,659 an ounce on the Comex yesterday. It is currently trading at $1654. MCX Gold October contract settled at Rs. 23806, it registered a gain of Rs. 299 for the day. All Base Metals in MCX are likely to open on a weak note today. Crude-oil futures on Tuesday settled at their worst level in five weeks after U.S. stocks sold off, raising concerns about the demand for oil. Crude  oil for Sep delivery declined $1.10, to end at $93.79 a barrel on the NYMEX.

Commodity trading tips, MCX updates, MCX Gold & Silver Live Prices, NCDEX Agri commodity tips