Commodity MCX Trend for The Day

Gold News
Gold prices continued to decline for a second consecutive day. Spot gold prices in the international markets were trading at $1400/oz, down by 0.5% at 4.00 pm IST. On the MCX, the February 2011 contract was down marginally by 0.2 percent as depreciation in the Indian Rupee cushioned sharp losses.

Stronger dollar and mixed sentiments in the global equities pressurized base metal prices on the LME today. But, on the MCX, the weaker domestic currency cushioned sharp losses in the metals pack. Zinc prices declined almost 1.5% on LME as well as on the MCX till 4.00 pm IST today. Falling LME inventories did not provide any respite to the zinc prices in the international markets today. The metal inventories declined by 650 tonnes to 632,175 tonnes today.

Out look for today
In the evening session, we expect oil prices to take cues from the inventory data to be released by the US Energy Department today. As per EIA polls, crude oil inventories are expected to decline by 1.3 million barrels. But the dollar is expected to remain strong today and this factor will continue to exert pressure on the commodity prices. Copper prices are expected to trade in the red on the back of a stronger US currency. But, tight supplies in the copper market would cushion sharp downside in the red metal prices. On an intra-day basis, gold prices are expected to decline but we expect prices to recover in the coming days as uncertainty in the Euro zone continues to persist.

Click here to get all MCX Tips , NCDEx Tips , Gold , Silver tips trend and other news  - MCX Tips  - NCDEX Tips

MCX Tips provided by me are source of knowledge and trading strategies for its clients and visitors. Free Commodity tips benefits the traders from the Live Markets commodity calls provided by us, and thus make huge money from the strategies we provide them. FREE MCX Tips are also provided by us on a one two trial days basis for the visitors to our website. MCX Commodities are a great and huge source of profit from Indian commodities traders. There are various commodities being traded on these exchanges ranging from Gold, Silver, Copper, Crude, Nickel, Aluminum, Zinc, Lead, and many more. We provide Daily MCX Reports, Daily Gold Reports, Daily Silver Reports, Daily Copper Trend,Gold reports, Silver reports and Copper Reports, Technical/fundamental Reports on Gold, Silver, Copper, Aluminium,Zinc, Nickel, Crude Oil and Natural Gas with a host of Agri Commodities like Mentha Oil, Cardamom, Potato, Potato Tarkeshwar, Chana, Guarseed, Jeera, Pepper as well as Trading Calls for all commodities on MCX and NCDEX . Apart form Commodity We have other services for Intraday Stock Tips, Free Share Tips, Nifty Tips, Nifty Future Tips, Nifty Option Tips, Free Nifty Tips, Equity Tips, Stock Cash Tips, Free Trading Tips. Register Today to Get Free Trial Stock Commodity Trading tips for Intra-day, Short Term & Long Term Investment on Mobile from Today 23rd December to Tomorrow 24th December 2013.

Twitter Delicious Facebook Digg Stumbleupon Favorites More

 
Disclaimer: The usage of this blog confirms to the policy that the investment in stock market has inherent risks and author or his clients may or may not be following the recommended tips.This Blog is not responsible for any errors, omissions or representations on any of our pages or on any links on any of our pages. Blog does not endorse in anyway any advertisers on our web pages. Please verify the veracity of all information on your own before undertaking any alliance.The author will not be held responsible for any loss incurred by following the advice.
Design by Free WordPress Themes | Bloggerized by Lasantha - Premium Blogger Themes | Grants For Single Moms