Monday, August 1, 2011

MCX Commodity Market Updates and Tips Today

In Bullions MCX Gold and Silver are trading flat for the day. They can move upward in coming days as our research analyst said. MCX Gold October contract can dip lower towards 23,350 while silver Sep contract can test 57,000 in near term. If we talk about the Base Metals, all base metals are trading positive for the day. Crude oil may open on positive note tracking firm opening in international markets. MCX Crude oil may bounce back to 4350 in domestic bourses.

MCX Gold is currently trading at Rs. 23355, it is trading down by Rs. 164 for the day. MCX Crude Oil Aug is currently trading at  Rs. 4307, it is trading up by Rs. 70 for the day. All Base Metals in MCX are trading marginally positive for the day. 

  • NYMEX crude oil gains almost $2 Monday on optimism about US debt deal. 
  • NYMEX natural gas fell 5.8% marking its second weekly decline.
  • Base metals continued to trade mix amid mixed global cues. 
  • Copper prices hit three month high of $9895 at LME to end the session 1.6% higher at $9830 a ton. 
  • Aluminium and Nickel prices too rose seeking support from higher copper prices. 
  • Lead and Zinc ended on lower note with Lead prices noting decline of 2.86%.  
FREE MCX Tips, Commodity Trading tips, MCX Gold & Silver Live Prices, NCDEX Agri Commodity updates............