MCX & NCDEX Commodity Market Updates Today

MCX Commodity Market Updates:-

Gold prices may trade with negative bias as the positive equity markets reduced the safe haven appeal of the yellow metal. Gold can test 27,000 in domestic market. Base metals may also trade on positive path tracking firm international markets. Copper may trade in range of 410-420 in near term. Crude oil may trade in range of 3,950-4,100 in near term.

NCDEX Agri Commodity Market Updates:- 

Pepper futures may remain firm. The global price of black pepper on Monday shot up to an all-time high, as Vietnam quoted USD 7,050 per ton for the 500 Gl grade, up from its asking price of USD 5,600 per ton for the same grade just a month earlier. Cardamom futures may trade with a bearish bias.

Guar complex may trade higher as special Cash Margin of 5% imposed on the Long side on all running contracts of Guar gum has been withdrawn with effect from beginning of day, Monday, Aug. 29, 2011. Chana futures may trade sideways on account of profit booking from higher levels. Soybean futures may trade sideways. Refined soy oil futures may try to test the resistance of 655 levels owing to high demand during festive season and buoyant crude oil prices.

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