MCX Commodity Market News Updates Today 28 March 2013

Bullion: Gold futures were trading up on the local bourses tracking the COMEX futures that came under pressure after investors booked profits ahead of the Easter holidays this week. In the short term, the gold price is likely to be driven largely by news of developments in Cyprus. Silver futures were down on local exchanges due to weakness in COMEX futures. On COMEX, silver futures fell tracking the weakness in base metals. 

Metals: Base metals on MCX were trading lower tracking the same movement in the LME. Base metals are mostly lower on the London Metal Exchange Wednesday, drifting in thin trade as euro-zone jitters continue to depress investor sentiment.

Energy: Domestic crude oil futures were trading higher tracking gains in benchmark contracts on the New York Mercantile Exchange. The U.S. Energy Information Administration said commercial crude-oil stockpiles rose by 3.3 million barrels last week, surprising analysts that had expected a more modest 700,000-barrel increase and sending total stocks to a nine-month high of 385.9 million barrels. 

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MCX & NCDEX Commodity Market News Today

MCX Gold and Silver prices can trade sideways with positive bias. Gold faces resistance at 28700 in MCX. Base metals are expected to remain sideways with lack of clear direction due to Greece crises. Copper can trade in range of 370-395 in MCX. Crude oil has shown steady upside recently but profit booking at current levels cannot be denied. Crude Oil traded near the highest in three months.

Today all the sectors in MCX Commodity Market are trading at higher prices, only MCX Naturalgas is trading at lower prices. MCX Gold, Silver, Copper, Crude Oil and other base metals are trading positive OR higher prices today. We assume all are trading upside for the day.

NCDEX Agri Commodity Updates and Trading Tips
Pepper futures may remain in the bearish territory. Turmeric futures may trade sideways tracking weak spot markets. Cardamom futures may trade bearish due to ongoing harvesting season. Chana futures (Nov) may face some resistance near 3,500 levels.

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Commodity updates: Copper futures were trading in the red 22 May 2015

Commodity updates: Copper futures were trading in the red in the domestic market on Friday as investors and speculators stayed cautious over booking fresh positions in the industrial metal after a plunge in the sales of previously owned homes in the US signaled a cooling housing market recovery in the world’s biggest economy, clouding the demand outlook for copper.

Sales of existing US homes fell 3.3 per cent to a 5.04 million annualized pace in April from the previous month, data showed on Thursday.

At the MCX, Copper futures for June 2015 contract is trading at Rs 402.50 per 1 kg, down by 0.09 per cent after opening at Rs 402.60, against the previous closing price of Rs 402.85. It touched the intra-day low of Rs 402.20

Mentha oil futures erased last session’s bears and traded in strong mode during the early hours of trading on Multi Commodity Exchange [MCX] Monday on technical correction. 

Benchmark February contract in futures gained Rs 23.40 at Rs 1,090 a kg, budging in the range of Rs 1,094.40-1,075 a kg at 10:31 am IST. Volume of the contract stood at 812 lots so far.

Forward March contract traded Rs 23.60 up, at Rs 1,095 a quintal, and moved in the range of Rs 1,099-1,082. Volume of the contract so far was 233 lots.

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