MCX - Metal Review
Spot Gold prices declined around 0.3% and were hovering around $1338.90/oz till 3.45 pm IST today. The yellow metal prices experienced declines mainly onthe back of strength in the US Dollar Index (DX) today. The DX appreciated against a basket of six currencies and was trading at 77.65 till 3.45 pm IST. The
European equities were trading in the red in the afternoon trade. However, domestic equities comprising the Sensex and Nifty rebounded strongly in the
closing session. On the MCX platform, gold prices slipped slightly by 0.2% and were trading around Rs19,569 till 3.45 IST today.
Copper prices slumped sharply by 1.8% on LME, touching an intra‐day low of $8140/tonne till 3.45 IST today. The red metal prices were trading at $8170/tonne around the same time. Copper prices witnessed sharp declined mainly due to strength in the DX today. Moreover, poor sentiments in the global
equity markets also kept the red metal prices under check. Copper inventories jumped by 475 tonnes to reach 368,500 tonnes on the LME warehouse today.
On the MCX, copper prices dropped sharply by more than 1.5% and were hovering at `367.50/kg today.
Crude oil prices declined by almost 1% on the Nymex and were hovering at $81.45/bbl till 3.45 pm IST today. Strength in the DX coupled with poor sentiments in the global markets today exerted downside pressure on oil prices today. However some oil ports in France continue to remain closed following
the ongoing strike. On the MCX, crude oil prices declined around 0.7% and were trading at Rs3649/bbl till 3.45pm IST today.
Click & Get FREE - Commodity Tips, MCX TIPS, NCDEX TIPS
