Wednesday, August 10, 2011

MCX Commodity Market Updates & Report Today

Gold prices face stiff resistance near USD 1,780 in COMEX and it can dip towards USD 1,720-1,700 in near term. Silver can trade in range of 56,500-58,500 in MCX. Base metals may remain on positive note tracking firm international markets. Crude oil may open gap up in MCX tracking positive international markets. MCX Gold October contract is currently trading at Rs. 25742, it is up by Rs. 11 for the day. All Base Metals in MCX are trading on a positive note for the day. MCX Crude Oil Aug is trading at Rs. 3690, it is up by  Rs. 27 for the day.

• NYMEX crude trades higher Wednesday after 2.5% slide yesterday.
• Higher equity markets and API report support crude oil price. 
• NYMEX natural gas trades little changed after 1.5% gain yesterday. 
• Dip buying and recovery in crude oil supports natural gas price.

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