Thursday, February 16, 2012

MCX Intraday Commodity Market Updates for Today 16 Feb 2012

MCX Bullions Updates (Gold and Silver Tips):
Bullion counter can trade with negative bias tracking strong greenback. Gold can trade in range of 28,050-28,400 while silver can trade in range of 55,500-57,000. Gold traded little changed on Thursday.

MCX Base Metals Tips (Copper Updates):
Base metals may remain under selling pressure tracking weak international markets and lack of any solution to Greece. All base metals are trading on a negative note today. MCX Copper is trading in the range of Rs. 410-418. Support for February copper is seen at Rs.404 while resistance is seen at Rs.416.

MCX Energy Tips (Crude Updates):
Crude oil can trade with positive bias in range of 4,980-5,100 in near term. Oil traded near a five-week high in New York after reports that Iran halted shipments to Europe and crude inventories declined for the first time in four weeks in the U.S., the world`s biggest consumer of the commodity.