Commodity Market Updates Today

MCX Commodity Market GOLD, SILVER, COPPER, CRUDE Updates:

Gold prices moved higher, paring earlier losses. Silver prices moved 2.4% higher, inline with the gains in the yellow metal.  MCX December Silver settled higher by 2.8% at Rs65,568/kg. Silver prices managed a high of Rs 65,690/kg and a low of Rs 63,998/kg. MCX December Silver is trading marginally lower by 0.17% today at Rs 65,459/kg.

Copper prices remained supported by prevailing supply threat in Indonesia,  where the labourers at Freeport McMoRan Copper & Gold mine are set to strike from September 15 to October 15 unless the firm meets their demands for a pay rise. Crude oil prices moved higher, underpinned by anticipation of a drawdown in US oil stockpiles.

NCDEX Commodity Market PEPPER, CHANA Updates:

Pepper futures may trade higher. Spot prices on matching demand and supply stayed steady at Rs 30,700 (ungarbled) and Rs 31,700 (MG 1) a quintal. Turmeric futures may remain downside. Spot turmeric dropped by Rs 100 a quintal further on Tuesday following poor demand. Chana futures may trade with a positive bias. Soybean futures may trade with weaker bias tracking lower quoting international prices.

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NCDEX Agri Commodity Market (Pepper, Guar, Chana) Updates

Bearish tone continues to prevail at pepper futures as traders continue to book profit at higher levels after the rates shot up on firm International markets amidst pick up in export demand. However, the traders are expecting the exports and domestic demand to remain good and to pick up further in the Festive season.

Guar Seed futures are trading lower, suffering some profit booking after a good upmove in last session. Lower export demand from the US and other countries was weighing down the prices. However, reports of heavy rains in the growing areas of Rajasthan kept apprehensions of fall in productivity for the standing crop.

Chana futures have gained some strength on reports of lower global production for pulses. Major producers for pulses namely Myanmar, Australia and Canada are likely to report a fall in pulses production due to adverse weather conditions. Back home, the festive demand too continued to support the rates at the lower levels.

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MCX Commodity Updates and Trading Tips Today

GOLD EASES AS INVESTORS SELL TO PLUG OTHER LOSSES.

COPPER DIPS AS ECONOMIC, DEBT CRISIS FEARS MOUNT.
DOMESTIC OIL AND OILSEED QUOTE STEADY.
CRUDE OIL DROPS ON CONCERN DEBT CRISIS TO LIMIT GROWTH, FUEL NEED.

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MCX Commodity Market Trading Strategies for Today

GOLD DROPS 2PC AS STOCKS RALLY; DEBT CRISIS LENDS SUPPORT.
CRUDE OIL GAINS ON FORECAST STOCKPILE DROP AS CYCLONE BUILDS IN GULF OF MEXICO.
COPPER FIRMS ON SUPPLY FEARS.
DOMESTIC OIL AND OILSEED TRADE STEADY.

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