Wednesday, May 2, 2012

MCX Gold and Silver Tips, NCDEX Tips, Copper & Crude Updates 02 May 2012

Gold along with silver can trade sideways with mixed bias as Gold can trade in range of 29,000-29,500 and Silver July contract can trade in range of 56,500-58,000 in near term. Base metals counter can trade with mixed bias and as some profit booking can be seen after recent rise. Copper may trade in range of 445-455 while Lead may trade in range of 113-115 and zinc in range of 107.5-109 in near term. Crude oil can trade with positive bias in range of 5,550-5,650 in MCX.

NCDEX Agri Commodity Market Updates Today:
Cardamom futures are expected to trade sideways. Pepper futures may trade bearish due to lack of demand at the spot markets. Turmeric prices are expected to trade on negative note. Turmeric futures (May) is expected to break 3,500 levels. Jeera futures prices are projected to continue the positive trend.