Monday, April 1, 2013

MCX Commodity Market Report Today 01 April 2013

Bullion: Gold futures were down on local bourses tracking the COMEX contracts which came under pressure after investors booked profits ahead of the long Easter weekend. Marginal gains in the rupee against the dollar also put pressure on local gold prices.

Metals: Base metals futures on MCX were trading lower tracking benchmark contracts on the London Metal Exchange, where prices declined on Eurozone economic concerns and profit booking ahead of the long weekend. Appreciation 
in rupee against the dollar also weighed on MCX base metal futures. A firm rupee makes import of dollar-denominated commodities cheaper.

Energy: Domestic crude oil futures were trading slightly higher due to bargain buying, but the upside was capped following a fall in benchmark contracts on the New York Mercantile Exchange and firm rupee against the dollar. NYMEX, crude oil futures declined today on Eurozone economic concerns and following a sharp rise in the US crude oil stocks.