Tuesday, September 13, 2011

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

Today, Gold is trading higher, supported by reports that China is considering buying Italian bonds, providing a glimmer of hope to the perennial Europe`s debt-crisis.

prices drifted 3.4% lower, depressed by the weaker tone in the yellow metal. COMEX October Silver registered a high of USD 41.6/ounce and a low of USD 39.8/ounce. On the domestic front, MCX December Silver settled lower by 2.1% at Rs 63,786/kg. Silver prices managed a high of Rs 65,358/kg and a low of Rs. 63,555/kg. MCX December Silver is trading 1.2% higher today at Rs 64,533/kg.

MCX Copper may note some gains tracking international markets, however the upside remains capped. Support for November copper is seen at Rs.412 while resistance is seen at Rs.424.

Crude oil pared earlier losses and managed to settle higher, as a rebound in Euro and the end of the trading session helped in the recovery of energy prices. Crude oil prices are expected to trade weak on account of gloomy global economic backdrop.

for Dec delivery added  $16.40, to $1,829.70 an ounce on the Comex. MCX Gold October is currently  trading at Rs. 27893, it is up by Rs. 100 for the day. Silver spot market is currently  trading at $40.81. MCX Silver Dec contract is currently trading at Rs. 64398, it is  marginally up by Rs. 621 for the day. Crude Oil for October delivery rose 76 cents today and is trading at  $88.95 a barrel. MCX Crude Oil Sep contract is currently trading at Rs. 4187, it is  up by Rs. 27 for the day. All Base Metals in MCX are trading marginally negative today.